The GCC healthcare construction market is set to register strong growth in the coming years due to rising population and per capita incomes. The contractor awards for the GCC hospital construction projects are expected to increase from US$ 5,850 million in 2014 to US$ 7,300 million in 2015. The Kingdom of Saudi Arabia (KSA) is projected to remain the largest market in the region with the UAE and Qatar expected to be the fastest growing markets for the sector.
The UAE is one of the most developed markets in the GCC region. Healthcare spending in the UAE is expected to reach US$ 10.8 billion by 2015. The UAE government is also liberalising policies to attract foreign investments, in order to improvise the healthcare standard and boost the healthcare industry.
The largest healthcare market in the GCC by far however is Saudi Arabia, as it accounts for more than half (52.3%) of the region's market. The country’s healthcare industry has been witnessing significant growth due to rising population, prevalence of lifestyle and infectious diseases, longer life expectancy and government initiatives for improving healthcare infrastructure.
Oman, Qatar and Bahrain are equally investing in healthcare, allocating budgets and adding more hospital beds over the next five years.
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