Why Starting a Business in Dubai’s Healthcare Sector is Still Deemed Profitable?KWSME
Dubai has always been one step ahead of its peers. That is because the Ruler of Dubai, His Royal Highness Sheikh Mohammed bin Rashid Al Maktoum wants the city to be an icon— a success story that everyone would want to replicate. Dubai has a stellar infrastructure that is the envy of others, not only that, but it is the purveyor of world-class healthcare services. That has transformed Dubai into the most sought after medical facility operating in the Middle East.
Dubai Healthcare City (DHCC) Dubai is dedicated to healthcare and hospice and is the world’s largest medical free zone. It is home to several best clinics and first-rate hospitals. The district houses a hundred sixty medical establishments that include private clinics, outpatient centers, two world-class hospitals, and ninety diagnostic laboratories. It also has doctors, nurses and other medical professionals over a hundred fifty plus specialties with licensed professionals from almost ninety countries.—hence making it the ideal place for entrepreneurs eager to make their mark and grab a slice of this fast-growing market.
Recently, as part of encouraging foreign investment in the healthcare industry, DHCC is set to welcome doctors, dentists, and other medical professionals from ten new countries.
That will increase the existing number of licensed professionals currently practicing in Dubai to a whopping 4,500! And the revised investment guide issued by the Dubai Health Authority has only reinforced these benefits immensely.
The Main Objectives of the Revised Health Investment Guide
Dubai Healthcare City (DHCC) is garnering plenty of attention and buzz in recent times– and it is clear as day why foreign entrepreneurs are flocking in to invest in this sector as Dubai’s healthcare sector is projected to exceed twenty-eight billion dollars by 2021.
The government is positive that with the support of foreign investors, their health sector can continue its expansion and will be the number one provider of sustainable healthcare in the world.
DHCC’s Health Investment Guide concentrates on the benefits of investing in the medical sector and gives a brief overview that outlines the amenities the health system of Dubai has to offer with the additional details of inpatient volumes and spending as well. The guide also informs investors about the stringent quality check that the authorities have implemented on services provided. Also, it gives them crucial information that is relevant to their investment plans.
The Salient Features of Dubai Health Investment Guide
The Dubai Health Investment Guide has different sections.The first segment details the growing demand for healthcare in Dubai and points towards the factors that have played their role in it. Factors like:
- growing population because of a diverse and robust economy
- stable investment climate that entices foreigners to stay in Dubai
- Escalated tourism
- 45 percent of the UAE’s population above 60 years of age and thus need constant medical support
- Visitors who are coming to Dubai exclusively for availing the top-notch medical services.
The other segment of the guide summarises the health regulations that the establishments need to follow and any changes that are relevant to investors.
Furthermore, it also gives a breakdown of the investment required to start different types of medical facilities. It also highlights the investment priorities and needs for outpatient care units, transplant centers, maternity homes, and acute inpatient beds and vital care beds.
These details are provided by the guide to give all the information to the investors so that they can make an informed decision. Dubai can be an efficient option to reap profits if you are looking to start a business in Dubai.
The Perks of Investing in Dubai’s Healthcare Industry
Dubai is at the forefront of healthcare in the MENA region. It is also the first city of the Middle East, whose private sector is heavily invested in the healthcare industry. In line with the vision of Sheikh Mohammed Bin Rashid Al Maktoum, the Ruler of Dubai, Private sector healthcare is responsible for seventy-five percent of outpatient services and manages over sixty-five percent of inpatient services in the country.
Dubai also possesses the excellent infrastructure and a business-friendly as well as a competitive environment that sets it head and shoulder above the rest.
Taking into consideration the recent investment initiatives launched by the government and other entities related to the government, the UAE especially offers immense investment opportunities for the private sector.
Health Sector’s Massive Expansion in the Past Several Years in Dubai
The health and fitness sector of Dubai has witnessed rapid growth from the past years, with numerous licensed health facilities growing to three thousand two hundred by May 2018 from about two thousand nine hundred facilities in 2014 with an approximate growth rate of four percent.
This expansion also includes private clinics and hospitals, pharmacies, drugstores, diagnostic centers and labs, and dental centers.
The increase in population, rising utilization of health services primarily in the private sector, and the implementation of mandatory health insurance by the government are the driving factors behind this rise in demand.
DHA’s Investment Plan for the Next Five Years
Dubai Healthcare Authority plans to invest in the following departments:
- Ambulatory care
- Fetal Medicine
- Cutting-edge cancer clinics
- Mental health
- Innovation in Primary care
- Infectious management and cure
- Chronic disease management
- Diagnostic health and remote monitoring
- Tertiary care for diabetes, oncology and cardiology
- Rehabilitation and physical therapy
- Long-term and extended care
- Home-base care
Healthcare is among the booming industries of Dubai. So If you are looking to set up business in Dubai, our business setup consultants will help you with it as they are well-versed in the art of business incorporation. They will make the entire process really easy as KWS Middle East is one of the best consultants in the Middle East.
In case of any queries, feel free to contact us – we’d be glad to assist.