Healthcare & Life Sciences - Industry - MEA Market, Share and Trends 2023-2028
Summary of Healthcare & Life Sciences
The healthcare and life sciences industry in the Middle East and Africa (MEA) region has seen steady growth over the past decade that is driven by rising incomes, aging populations and increased focus by governments on healthcare infrastructure and access.
Increasing privatization and public-private partnerships to improve healthcare access and quality– especially in Gulf Cooperation Council (GCC) countries like: Saudi Arabia and UAE which spend heavily on healthcare.
The Middle-east and Africa’s Healthcare and Life Science market size was valued at $ 378 billion in 2023 and is expected to expand at a CAGR of 4.97 % during the forecast period & reaching $ 507.36 billion by 2029.
Rising lifestyle diseases like diabetes and heart disease with economic growth and changing lifestyles requiring better diagnosis and treatment options. Growing medical tourism industry as patients travel to access high-quality affordable care – especially in countries like: Israel, South Africa, Jordan and UAE.
Investments in telemedicine and digital health to improve access to care in remote regions and reduce costs. Countries like Egypt, South Africa, Kenya lead in e-health in the region. Import dependence for pharmaceuticals and medical devices leading countries to establish domestic manufacturing capabilities through special economic zones, joint ventures and licensing deals.
Recent Trends and Insights
The healthcare and life science industry in the Middle-East and Africa is estimated to be worth $378 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.97 percent to reach $507.36 billion by 2029.
The GCC healthcare market will likely grow the fastest given higher incomes and government focus. Saudi Arabia’s market alone is set to grow to USD 44 billion by 2026. The hospital sector accounts for the largest share of healthcare expenditure in the region followed by pharmaceuticals.
Investments into digital health and telemedicine solutions have accelerated since the COVID-19 pandemic. The Middle East telehealth market is forecast to grow at over 25% CAGR from 2022 to 2028.
Many countries like Saudi Arabia, UAE, Egypt, Kenya are encouraging public-private partnerships to develop healthcare infrastructure and introduce more efficient delivery models. Countries are working towards universal access to healthcare. The UAE mandated health insurance for all citizens and residents from 2014. Saudi Arabia aims to increase share of population with health cover from 66% to 100% by 2030.
High quality yet affordable care has driven medical travel to the region – especially Israel, Jordan, South Africa and UAE – which see thousands of medical tourists annually. With changing lifestyles, non-communicable diseases like: cardiovascular disease, diabetes, cancer are rising rapidly requiring improved preventive care and access to medicines.
Product Insights
The MEA pharmaceuticals market was valued at USD 40 billion in 2021. By 2026— it could reach nearly USD 60 billion registering a high single digit growth rate. While most countries in the region rely heavily on imported drugs, efforts are underway to manufacture more medicines locally through licensing deals, joint ventures and development of special economic zones.
Biologics, oncology medicines, orphan drugs for rare diseases are growing rapidly in line with global trends. Saudi Arabia, South Africa, Egypt– lead the region in pharmaceutical consumption.
The Middle East and Africa medical device market reached USD 10.7 billion in 2021 – growing at over 5% annually in recent years. Orthopedics, patient monitoring, ultrasound devices see strong demand. By 2027— the market could exceed USD 14 billion. UAE, Saudi Arabia and South Africa account for over half the region’s medical device sales.
As with pharmaceuticals, most devices are imported with companies like GE, Siemens, Philips, Medtronic among the top players. However, local production is being encouraged through favorable regulations and government incentives.
Key services include— online consultation, mHealth apps, remote patient monitoring and e-pharmacies. Increasing digital health investments and smartphone penetration underpin growth.
Key Companies
Some major players within this vast domain of industry are
- AstraZeneca
- Roche
- Sanofi
- GSK
- Novo Nordisk
- Al Borg Laboratories
- King Faisal Specialist Hospital and Research Centre
- Mediclinic Middle East
- Aster DM Healthcare
- NMC Health
Regional Analysis
Israel and UAE lead in telemedicine adoption. South Africa, Saudi Arabia, Egypt, Kenya also present high growth opportunities as infrastructure improves. The GCC healthcare market is projected to grow to USD 104 billion by 2026 driven by rising incomes, aging populations, and government focus on healthcare.
Saudi Arabia’s market alone could reach USD 112 billion by 2026. Its Vision 2030 plan aims to increase life expectancy from 74.5 years to 80 years with healthcare reforms. UAE healthcare infrastructure is among the best globally attracting medical tourists. Dubai aims to expand medical tourism contribution to GDP from ~2% to ~5% in the next decade.
The Sub-Saharan Africa healthcare market will expand at 6%+ CAGR this decade— touching USD 259 billion by 2030— as countries strengthen health systems.
South Africa is the largest healthcare market driven by high rates of chronic conditions and medical insurance coverage. The East Africa market is also growing rapidly with countries like Kenya using innovative delivery models like telemedicine to improve access.
Egypt is looking to grow its medical tourism industry and become a regional pharma manufacturing hub. Medical device sales could grow 10%+ annually in the coming years. Jordan has world class healthcare infrastructure attracting 250,000+ medical tourists annually. Its medical device market is projected to reach USD 360 million by 2025.
Market Segmentation
By Type:
- Pharmaceuticals
- Medical Devices
- Healthcare IT
- Diagnostics
- Biotechnology
By End User:
- Hospitals and Clinics
- Research Laboratories
- Diagnostic Centers
- Others
By Enterprise Size:
- Large Enterprises
- SMEs
By Country:
- Saudi Arabia
- Iran
- United Arab Emirates
- Israel
- Egypt
- Iraq
- Qatar
Our Methodology
We have offered a well-founded review of the regional Middle-east and Africa’s healthcare and life sciences market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.
Primary Research
Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.
We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.
We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.
Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.
Quantitative Analysis
Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.
Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.
Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.
We value your investment and offer free customization with every report to fulfil your research needs.
Frequently Asked Questions
The MEA Size of the Healthcare & Life Sciences Industry is USD 378 Billion in 2023 and is expected to grow to USD 507.36 Billion by 2029
The CAGR of the Healthcare & Life Sciences Industry Market in MEA is 4.97%
The Saudi Arabia region accounts for 25% of the total market share of the Healthcare & Life Sciences Industry Market
The key players in the Healthcare & Life Sciences Industry Market in MEA are Saudi German Health, NMC Health, Mediclinic International, Al Borg Medical Laboratories and Medcare Hospitals and Medical Centres. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.
The factors driving the Healthcare & Life Sciences Industry Market in MEA are Healthcare Infrastructure Development, Diseases Burden, Medical Tourism, Public-Private Partnerships and Digital Health Adoption. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.
Summary of Healthcare & Life Sciences
The healthcare and life sciences industry in the Middle East and Africa (MEA) region has seen steady growth over the past decade that is driven by rising incomes, aging populations and increased focus by governments on healthcare infrastructure and access.
Increasing privatization and public-private partnerships to improve healthcare access and quality– especially in Gulf Cooperation Council (GCC) countries like: Saudi Arabia and UAE which spend heavily on healthcare.
The Middle-east and Africa’s Healthcare and Life Science market size was valued at $ 378 billion in 2023 and is expected to expand at a CAGR of 4.97 % during the forecast period & reaching $ 507.36 billion by 2029.
Rising lifestyle diseases like diabetes and heart disease with economic growth and changing lifestyles requiring better diagnosis and treatment options. Growing medical tourism industry as patients travel to access high-quality affordable care – especially in countries like: Israel, South Africa, Jordan and UAE.
Investments in telemedicine and digital health to improve access to care in remote regions and reduce costs. Countries like Egypt, South Africa, Kenya lead in e-health in the region. Import dependence for pharmaceuticals and medical devices leading countries to establish domestic manufacturing capabilities through special economic zones, joint ventures and licensing deals.
Recent Trends and Insights
The healthcare and life science industry in the Middle-East and Africa is estimated to be worth $378 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.97 percent to reach $507.36 billion by 2029.
The GCC healthcare market will likely grow the fastest given higher incomes and government focus. Saudi Arabia’s market alone is set to grow to USD 44 billion by 2026. The hospital sector accounts for the largest share of healthcare expenditure in the region followed by pharmaceuticals.
Investments into digital health and telemedicine solutions have accelerated since the COVID-19 pandemic. The Middle East telehealth market is forecast to grow at over 25% CAGR from 2022 to 2028.
Many countries like Saudi Arabia, UAE, Egypt, Kenya are encouraging public-private partnerships to develop healthcare infrastructure and introduce more efficient delivery models. Countries are working towards universal access to healthcare. The UAE mandated health insurance for all citizens and residents from 2014. Saudi Arabia aims to increase share of population with health cover from 66% to 100% by 2030.
High quality yet affordable care has driven medical travel to the region – especially Israel, Jordan, South Africa and UAE – which see thousands of medical tourists annually. With changing lifestyles, non-communicable diseases like: cardiovascular disease, diabetes, cancer are rising rapidly requiring improved preventive care and access to medicines.
Product Insights
The MEA pharmaceuticals market was valued at USD 40 billion in 2021. By 2026— it could reach nearly USD 60 billion registering a high single digit growth rate. While most countries in the region rely heavily on imported drugs, efforts are underway to manufacture more medicines locally through licensing deals, joint ventures and development of special economic zones.
Biologics, oncology medicines, orphan drugs for rare diseases are growing rapidly in line with global trends. Saudi Arabia, South Africa, Egypt– lead the region in pharmaceutical consumption.
The Middle East and Africa medical device market reached USD 10.7 billion in 2021 – growing at over 5% annually in recent years. Orthopedics, patient monitoring, ultrasound devices see strong demand. By 2027— the market could exceed USD 14 billion. UAE, Saudi Arabia and South Africa account for over half the region’s medical device sales.
As with pharmaceuticals, most devices are imported with companies like GE, Siemens, Philips, Medtronic among the top players. However, local production is being encouraged through favorable regulations and government incentives.
Key services include— online consultation, mHealth apps, remote patient monitoring and e-pharmacies. Increasing digital health investments and smartphone penetration underpin growth.
Key Companies
Some major players within this vast domain of industry are
- AstraZeneca
- Roche
- Sanofi
- GSK
- Novo Nordisk
- Al Borg Laboratories
- King Faisal Specialist Hospital and Research Centre
- Mediclinic Middle East
- Aster DM Healthcare
- NMC Health
Regional Analysis
Israel and UAE lead in telemedicine adoption. South Africa, Saudi Arabia, Egypt, Kenya also present high growth opportunities as infrastructure improves. The GCC healthcare market is projected to grow to USD 104 billion by 2026 driven by rising incomes, aging populations, and government focus on healthcare.
Saudi Arabia’s market alone could reach USD 112 billion by 2026. Its Vision 2030 plan aims to increase life expectancy from 74.5 years to 80 years with healthcare reforms. UAE healthcare infrastructure is among the best globally attracting medical tourists. Dubai aims to expand medical tourism contribution to GDP from ~2% to ~5% in the next decade.
The Sub-Saharan Africa healthcare market will expand at 6%+ CAGR this decade— touching USD 259 billion by 2030— as countries strengthen health systems.
South Africa is the largest healthcare market driven by high rates of chronic conditions and medical insurance coverage. The East Africa market is also growing rapidly with countries like Kenya using innovative delivery models like telemedicine to improve access.
Egypt is looking to grow its medical tourism industry and become a regional pharma manufacturing hub. Medical device sales could grow 10%+ annually in the coming years. Jordan has world class healthcare infrastructure attracting 250,000+ medical tourists annually. Its medical device market is projected to reach USD 360 million by 2025.
Market Segmentation
By Type:
- Pharmaceuticals
- Medical Devices
- Healthcare IT
- Diagnostics
- Biotechnology
By End User:
- Hospitals and Clinics
- Research Laboratories
- Diagnostic Centers
- Others
By Enterprise Size:
- Large Enterprises
- SMEs
By Country:
- Saudi Arabia
- Iran
- United Arab Emirates
- Israel
- Egypt
- Iraq
- Qatar
Our Methodology
We have offered a well-founded review of the regional Middle-east and Africa’s healthcare and life sciences market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.
Primary Research
Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.
We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.
We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.
Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.
Quantitative Analysis
Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.
Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.
Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.
We value your investment and offer free customization with every report to fulfil your research needs.
Frequently Asked Questions
The MEA Size of the Healthcare & Life Sciences Industry is USD 378 Billion in 2023 and is expected to grow to USD 507.36 Billion by 2029
The CAGR of the Healthcare & Life Sciences Industry Market in MEA is 4.97%
The Saudi Arabia region accounts for 25% of the total market share of the Healthcare & Life Sciences Industry Market
The key players in the Healthcare & Life Sciences Industry Market in MEA are Saudi German Health, NMC Health, Mediclinic International, Al Borg Medical Laboratories and Medcare Hospitals and Medical Centres. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.
The factors driving the Healthcare & Life Sciences Industry Market in MEA are Healthcare Infrastructure Development, Diseases Burden, Medical Tourism, Public-Private Partnerships and Digital Health Adoption. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.
Summary of Blockchain
The blockchain market in the MEA region is expected to grow from $ 2.4 billion in 2023 to $ 23.28 billion by 2029 at a CAGR of 42.65 % from 2023 to 2029. The BFSI industry is leading the market in terms of technology adoption and use cases wherein blockchain solutions are being implemented in payments, remittances, identity management, fund processing, dispute management, risk management and many other applications.
The blockchain industry in the Middle East and Africa (MEA) region is still in early stages of development but has seen rapid growth and adoption in recent years. MEA governments are investing heavily in blockchain infrastructure and innovation hubs to drive economic diversification. The UAE and Saudi Arabia lead blockchain adoption.
Financial services is seeing the most blockchain adoption— with experiments in central bank digital currencies (CBDCs), cross-border payments, loyalty programs and remittances using blockchain rails.
Smart city applications like digital IDs, supply chain tracking and energy trading show strong potential for blockchain adoption across the region. Regulatory uncertainty remains a key challenge.
Recent Trends and Insights
MEA blockchain startups raised over $210 million in venture funding in 2022 that is a 200% annual increase as global crypto firms take interest in regional infrastructure projects. The MEA region is witnessing a surge in blockchain adoption, with successful use cases in various industries that are ranging from BFSI to healthcare and supply chain management.
Central banks across the GCC are piloting CBDCs for domestic and cross-border use. The Saudi Central Bank aims to have the world’s first multi-currency CBDC platform. The UAE leads global CBDC experiments – its Project Aber CBDC aims to settle transactions in under 2 seconds. The project could save banks $3 billion a year.
Blockchain is enabling financial inclusion for the unbanked in Africa – Kenya’s M-PESA mobile money service runs partly on blockchain and serves 50 million users. Dubai adopted blockchain-based digital IDs for residents and visitors in 2021. The ID gives access to over 5,000 public and private sector services in Dubai.
The BFSI sector is seen to be held back due to limitations and obsolete aspects of the mainframe computing technology; however, with the BFSI industry moving into the advanced age of real-time transaction processing— blockchain is a principal facilitating technology.
Product Insights
Enterprise blockchain platforms like Hyperledger Fabric, R3’s Corda and Quorum are preferred for commercial deployments in the region over public chains. Regional blockchain infrastructure providers like UAE’s Norbloc and Egypt’s Block Gemini offer plug-and-play solutions for institutions to build applications.
Startups like UAE’s Dltledgers and Saudi’s NU Tech are building blockchain middleware to help firms integrate the technology into existing systems. Crypto asset trading platforms like Rain in Bahrain and BitOasis in UAE facilitate retail participation in Web3 services.
Blockchain solutions is heavily implemented in payments, remittances, identity management, fund processing, dispute management, risk management and plenty other applications. IBM holds a prominent place in the market as a blockchain solution provider for various industries. For instance— with the help of IBM’s Blockchain platform, banks can create secure, low-cost, and high-volume cross-border payments. There are numerous examples of the successful implementation of blockchain in the BFSI sector.
Through APIs and torrent sites— some of these created ledgers can be accessed. In order to prevent tampering with current and also past transactions the database is cryptographically secured.
Key Companies
Some major players within this vast domain of industry are
- IBM
- Accenture
- Microsoft
- Chain, Inc.
- Circle Internet Financial Limited
- Deloitte Touche Tohmatsu Limited
- Digital Asset Holdings, LLC
- Global Arena Holding, Inc. (GAHI)
- Ripple
Regional Analysis
The UAE and Saudi Arabia account for over 50% of the MEA’s blockchain investments – smart cities and fintech adoption are government priorities. Africa sees grassroots crypto adoption – South Africa, Kenya, Nigeria and Ghana have the highest wallet ownership driven by freelancers getting paid in crypto.
Qatar, UAE and Saudi Arabia are global leaders in CBDC development – over 10 currency corridors are being explored for cross-border settlements using CBDCs. Government services like— customs clearance, health records, company registrations are being rapidly moved to blockchain platforms across the GCC.
The BFSI sector is expected to drive the MEA blockchain market during the forecast period. The adoption of blockchain technology in the banking, financial services and insurance (BFSI) industry offers a systematic client identification system based on distributed ledger technology. Blockchain allows banks and insurance companies to have a well-maintained decentralized data, which helps prevent hacking by cyber-criminals.
The MEA is poised to be a leading global blockchain hub as governments invest in infrastructure and enable adoption across sectors like finance, trade and governance. Regulatory clarity should further accelerate enterprise blockchain adoption.
Market Segmentation
By Type:
- Public blockchain
- Private blockchain
- Consortium or hybrid blockchain
By End User:
- BFSI
- Retail & e-Commerce
- Healthcare & Life Sciences
- Transportation & Logistics
- Government
- Media & Entertainment
- Travel & Hospitality
- Others
By Enterprise Size:
- Large Industries
- Small & Medium Industries
By Country:
- Saudi Arabia
- Iran
- United Arab Emirates
- Israel
- Egypt
- Iraq
- Qatar
Our Methodology
We have offered a well-founded review of Middle-east and Africa’s regional Blockchain Industry market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.
Primary Research
Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.
We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.
We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.
Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.
Quantitative Analysis
Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.
Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.
Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.
We value your investment and offer free customization with every report to fulfil your research needs.
Frequently Asked Questions
The MEA Size of the Blockchain Industry is USD 2.4 Billion in 2023 and is expected to grow to USD 23.28 Billion by 2029
The CAGR of the Blockchain Industry Market in MEA is 42.65%
The Saudi Arabia region accounts for 26% of the total market share of the Blockchain Industry Market
The key players in the Blockchain Industry Market in MEA are Emirates NBD, Commercial Bank of Dubai, National Bank of Ras Al-Khaimah, Bank of Khartoum and Access Bank. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.
The factors driving the Blockchain Industry Market in MEA are Remittances, Financial inclusion, Trade finance, Identity management and Regulation. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.
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