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Mon 8 Apr 2013 10:06 AM

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Healthcare spending in Gulf seen rising to $79bn

New report says public health spending has grown by nearly 8% during previous years

Healthcare spending in Gulf seen rising to $79bn
(Photo for illustrative purposes only)

Spending on health care across the Gulf countries is forecast to reach about $79bn by 2015, as populations increase and governments invest oil revenue to boost their health care, Arab News reported, citing a survey by Kuwait Financial Centre (Markaz).

Public health expenditure per capita has grown at an average of 7.9 percent across GCC states from 2000-2009, according to the survey by Markaz. Public health expenditure in GCC countries is between 63 percent and 80 percent of total health expenditure.

GDP per capita in the GCC has grown at an average of 6 percent between 2000 and 2009, according to the survey.

An earlier survey by Frost & Sullivan had forecast the GCC total healthcare expenditure tripling to $133.19bn by 2018 from $46.12bn in 2011 assuming an a compound annual growth rate (CAGR) of 10.3 percent from 2010 to 2018 due to its expanding population, higher incidence of lifestyle diseases, and deeper insurance penetration.

Saudi Arabia is spending more than US$500bn on its infrastructure to meet the growing demand for its growing population and Kuwait, the UAE and Bahrain are all expanding their health care facilities.

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