Author – Tristan Hawkey
The healthcare sector in the United Arab Emirates (UAE) is driven by digital innovation and technological advancements. The health tech market in the UAE is projected to reach a value of $11 billion by 2025, highlighting the sector’s growth and potential. Supporting this market growth is a federal budget of 5.2 Billion AED ($1.4 Billion) dedicated to healthcare and community protection against illness.
The UAE is unique in its private/public partnerships that allow global private companies to contribute towards the UAE’s healthcare sector. As part of being a resident in the UAE you are legally required to have medical insurance. This compulsory rule results in a thriving medical sector. Combined with a strong digital health solution, medical tourism and advanced biotechnology, the Emirates has become a global health hub. Below, we discuss opportunities for UK SME’s and exporters in the UK Health Sector.
Digital Health Solutions and Technologies
The UAE’s healthcare facilities are making substantial investments in technology to enhance their services. This encompasses the integration and utilization of robotics, artificial intelligence (AI) in diagnostic and treatment processes, and the advancement of cutting-edge medical tools such as wearables and virtual reality. UK SMEs specializing in health tech, telemedicine, and health informatics can explore partnerships and collaborations to introduce their innovative solutions to the UAE healthcare market.
In 2023, the market size of medical devices in the UAE reached approximately GBP 1.51 billion (AED 7.1 billion). Projections for the forecast period from 2024 to 2030 anticipate a Compound Annual Growth Rate (CAGR) of around 8.87%. The demand for cutting-edge medical equipment and devices in the UAE and wider GCC region is on the rise.
The increasing demand for advanced devices, coupled with the rising incidence of lifestyle and chronic conditions like obesity and diabetes, contributes to the heightened demand for medical devices within the healthcare sector. UK exporters specializing in manufacturing and supplying innovative medical technology can find substantial opportunities in this growing market.
Pharmaceuticals and Biotechnology
The UAE is actively working to enhance its pharmaceutical and biotechnology capabilities. The expertise of UK healthcare professionals and service providers is highly regarded. For instance, UK companies can explore collaborations, licensing agreements, or direct exports to meet the increasing demand for high-quality medicines and biopharmaceutical products & services, as well as contributing to the overall enhancement of the healthcare ecosystem in the region.
The healthcare sector in the UAE and the wider GCC region is a beacon of opportunity for UK SMEs and exporters. Arab Health 2025 is poised to be a pivotal event for UK SMEs looking to make inroads into the UAE, as it represents a strategic entry point for those seeking to explore and capitalize on opportunities across the wider GCC healthcare market. As the healthcare landscape continues to evolve, the collaboration between the UK and the UAE offers immense potential for mutual growth and innovation. Through thoughtful navigation and a deep understanding of the market, UK SMEs can play a pivotal role in shaping the future of healthcare in the Middle East.