GCC Healthcare market to grow by 78%

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The GCC healthcare market is showing rapid progress as it is re-defining the healthcare industry with its wearables, machine monitoring and patient record digitisation.

At the GITEX Technology Week’16, both the established technology firms and startups will showcase their latest developments which will help in revolutionising GCC healthcare market.

GITEX Technology Week

GITEX is the largest technology marketplace and exchange in the Middle East and Africa. It is held every year
in the month of October at Dubai World Trade Centre. The technology week consists of five days which are divided in exhibition, technology leaders’ conference and GITEX Startup Movement.

Every year, from over 140 countries, more than 15000 technology professionals, entrepreneurs, public sector officials and enterprise leaders take part in it. GITEX showcases latest technologies and provides splendid opportunities to business to bloom.

This year, GITEX Technology Week will be running from 16 to 20 October.

GCC Healthcare market

According to the financial analysts, Ardent Advisory, GCC is investing more than 2 billion dollars in new patient-management technologies and 28 billion dollars in the construction of 37 mega-hospital projects.

When it comes to the growth of GCC healthcare market, according to Alpen Capital, the market is set to grow by 78% – taking a leap from 40 billion dollars in 2015 to 71 billion dollars in 2020.

Speakers at GITEX Healthcare include Jessica Federer, Chief Digital Officer of global pharmaceutical company Bayer; Alan Boehme, Chief Technology Officer of The Coca-Cola Company and Dr Timothy Low, Chief Executive Officer of Singapore’s innovative Farrer Park Hospital.

New wave of technology

Technology has left its mark in every market; healthcare does not remain distant to it either.

Shahid Azim, co-founder of United States-based healthcare startup Quanttus, who is going to speak at GITEX commented, “Shortly, people will be able to use wearables to measure and understand personal risk and monitor real-time results of making healthy choices. With the GCC’s high rate of technology adoption, the region could become global leaders in using wearable technology to transform personal healthcare.”

He will also be discussing ‘Q heart’ at the GITEX week. ‘Q heart’ is Quanttus’ recently launched consumer medical wearables, analytics platform and mobile analytics app. Users of the device can log in their heart rate blood pressure and label how they felt while performing every activity.

Wearable shipment growth

Tractica, a market intelligence firm, anticipates that the world will be seeing a new wave of technology in the form of healthcare wearables – shipments of the wearables will grow to 97.6 million by 2021 from 2.5 million in 2016.

The system is powered by the latest technology which includes a wristband for patient (it has vital information for nursing staff) which allows doctors to view patient records digitally from anywhere and anytime. It not only saves time but also minimises the range of human error.  

At GITEX Startup Movement, from more than 40 countries, 400 entrepreneurs will be introduced to 250 global investors. The startups will show how the innovative healthcare solutions can personalise the healthcare industry in the ever so growing market.

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