The healthcare sector in the Middle East and North Africa (MENA) region is witnessing a phase of significant growth. A recent report by Fitch Solutions suggests that that the MENA region’s healthcare market is projected to grow from US$ 185.5 billion in 2019 to US$ 243.6 billion with an 11.7% compound annual growth rate (CAGR) at constant exchange rates through to 2023. MENA’s healthcare market will post a five-year CAGR of 6.6% in US dollar terms. The report suggests that urbanisation, ageing demographics and a rising burden of chronic diseases will rapidly boost the demand for healthcare in the MENA region. With governments attempting to diversify their economies and reduce their vulnerability to oil price volatility, the private sector is likely to take on some of the healthcare burden, including projects through public-private partnerships. In line with these predictions, Al Masah Capital data suggests that the MENA healthcare market will be worth US$ 144 billion by 2020, while the private sector’s share in healthcare spending is expected to reach 33% by 2020.

SNZ work with healthcare players to develop and execute growth strategies in MENA Region that will help them achieve full potential. We help our clients identify strategic options that strengthen their foundation, evaluate their options and implement their chosen path; for strategies that include the rapid-growth emerging markets, we help our clients understand the complexity of the MENA Region market and identify critical success factors, such as how to design locally relevant product offerings.

Facts about MENA Healthcare Sector:

·             Healthcare market to be worth US$ 144 billion by 2020 and US$ 243.6 billion by 2023

·             Healthcare market to grow at CAGR of 11.7% through to 2023

·             Private sector’s share in healthcare spending is expected to reach 33% by 2020

·             Shortage of physicians could rise to 150,000 by 2020

·             Medical device market to grow at a CAGR of 9.3% between 2018-2023

·             Medical technology market set to grow

               (Source: Fitch Solutions)