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GE Healthcare forecasts Middle East health spending to double in ten years
Source: BI-ME , Author: BI-ME staff
Posted: Thu January 22, 2009 12:00 am
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UAE. GE Healthcare is putting the spotlight on some key healthcare challenges faced by the Middle East region through its participation at Arab Health 2009, the premier healthcare expo in the region to be held from 26-29 January  at the Dubai International Convention Centre.

With increasing regional trends of lifestyle diseases such as obesity, stress, diabetes and cardiac-related problems, it is imperative that policy makers, healthcare providers, practitioners, the various other stakeholders and the public take a concerted and joint approach in order to improve the standard of health care, which will ultimately benefit the local population.

GE Healthcare’s focus on 'Early Health' and advanced diagnostic solutions at Arab Health complement the efforts of governments in addressing concerns of growing demand on healthcare facilities and rising medical bills. 

According to a report issued by McKinsey & Co demand for overall healthcare is projected to grow 240% by 2025, with cardiovascular treatment needs expected to grow 419%.

Cardiology will account for nearly 24% of all healthcare costs followed by infectious diseases, maternal and paternal conditions, digestive diseases, genitourinal disorders, cancers and other diseases. The number of outpatient and inpatient visits is expected to grow 350% in the UAE, Kuwait and Saudi Arabia.

This highlights affordability as one of healthcare’s primary concerns. Richard di Benedetto, President and CEO, GE Healthcare International, EAGM (Eastern & Africa Growth Markets) region, said he expects state healthcare spending in the Middle East to double over the next ten years.

“Healthcare is increasingly on the agenda for governments across the region,” said di Benedetto. “Today, whether you’re in Saudi Arabia, the UAE or Turkey, healthcare is a national priority and is high on the agenda.”

Governments across the region are also encouraging the involvement of the private sector. A number of countries have recently launched mandatory insurance schemes for all residents. Nations are also actively courting international healthcare providers to invest and establish a presence in dedicated clusters and free zones.

“The appearance of sustainable funding mechanisms is one of the key drivers of change in the healthcare sector,” said di Benedetto. “Earlier, you only had government funding. The rise of the middle class, and their increasing demand for quality in-country services, is changing the landscape.”

“At the same time, diseases are increasing, and taking a toll on national economic performance. Cardiovascular disease in particular has a significant impact on the economically active population – the ability to go back to work after a week is very low, which has a considerable impact on GDP growth.”

Conversely, says di Benedetto, a 10% increase in life expectancy leads to a 0.4% increase in GDP growth every year, supporting GE Healthcare’s vision of 'Early Health' that can bring social as well as economic returns.

“The potential is tremendous: It’s both better health for citizens, which means improved quality of life for longer, improved wealth creation and life-long learning, more productive workers, and more incentive for foreign investment and education.”

A holistic approach to healthcare delivery is crucial to meet the rising healthcare demand. Health risk factors, ageing, population growth and medical inflation contribute to the rise in healthcare costs. McKinsey & Co recently modeled disease trends in the six Gulf Cooperation Council (GCC) countries and projected that the total number of hospital beds is expected to rise from 68,250 in 2006 to 114,450 by 2015 and 161,750 by 2025.

Several new innovative technologies and clinical images will on display in the GE Healthcare stand at the exhibition in the Dubai International Exhibition Centre. GE Healthcare is positioned to help transform the Middle East healthcare industry by bringing to the market innovative products, services and solutions that have the potential to enable healthcare professionals to detect diseases earlier and treat patients more effectively based on better informed decisions.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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