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Healthcare Market in Oman is expected to reach $2bn by 2015

MuscatCorporate advisory company Alpen Capital announced that due to population growth, rising levels of lifestyle-related diseases and increased health insurance; the healthcare market in is expected to be worth US$2bn by 2015. Sameena Ahmad, managing director of Alpen Capital, said “Growth in the sultanate’s industry will mirror growth of the population – and the subsequent rise in diseases typical of the region. We estimate demand for healthcare in the region to grow due to a rapidly growing population, rising income levels and increased insurance penetration. The change in disease mix with an increased prevalence of lifestyle-related diseases is also expected to drive per capita spending on healthcare”.

Also according to the report, in 2009 Oman‘s healthcare sector reached a value of US$1.2bn as a result of a compounded annual growth rate of 21% between 2004 and 2009. Sanjay Vig, managing director of Alpen Capital in Dubai, said “(Soaring) healthcare costs and the resulting burden on finances, means governments across the region are (actively pursuing reforms and policy measures) to promote participation of the private sector. GCC healthcare sector offers attractive opportunities as reforms gather pace and the market opens up further”.

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