Investments in MedTech
The Middle East is the newest area of interest for MedTech investors. In this region, the healthcare sector is growing slowly, and the government is also investing their money there in technology, thereby facilitating quality care for patients.
This article will walk you through some factors that lead to growth of healthcare sector in the middle east.
Emerging Demand for Medical Devices
The phenomenal increase in demand for medical equipment is taking place throughout the Middle East, primarily due to increased chronic diseases. This is because cases of diabetes and cancer in this region have increased significantly, mainly because of lifestyle changes and an aging population. Additionally, people in this region are now increasingly informed about developments in medical technology.
Increasing demand for medical technologies, such as advanced imaging, diagnostic, and minimally invasive surgical instruments, is being seen. The policies of the government for improving the healthcare infrastructure, increasing health awareness, and growing disposable incomes have driven this trend.
Some examples of modern technologies brought here that drew a large amount of investment throughout the Middle East include high end imaging equipment, diagnostic tools in the medical field and minimally invasive surgical instruments amongst others.
Introducing Home Healthcare Services
In the last five years, home health care has been one of the attractive investment opportunities in health-investment areas, especially with reforms in insurance regulation as well as rising acceptance of health applications and services worldwide. This is regarded as falling within the ambit of home healthcare, which can further be divided into two broad categories.
These include: the first relates to medical services that are provided at a patient’s home and made possible through doctors, nurses, home health aides, and attendants, and the second pertains to medical services provided with the use of telehealth services where a patient connects virtually through an application or device for consultancy or monitoring of the patient’s condition.
Development of Specialized Centers of Excellence
Future investment in the health sector in the middle east is likely to be driven by a quest to bridge the quality gap in the delivery of health services as opposed to a demand-supply gap in the physical infrastructure where most middle eastern countries have invested heavily already. We have observed a radical trend in certain countries in which a significant portion of future projects center on one or a few specialties to serve the purpose of building Center of Excellence (CoEs).
CoEs are specialized health facilities focused on delivering quality care by multidisciplinary teams. They can charge premium prices as compared to their general hospital counterparts due to the quality and technologically advanced services they can offer.
Role of Biotech
The most important development in the life sciences undoubtedly is the growing demand for biotechnology-based medicinal products. The past ten years have seen sales of biological medications, or biopharmaceuticals, grow at a pace significantly faster than any other areas of the international pharmaceutical industry. In our age and time, there is no one-to-one-fit solution, and biopharmaceuticals will be the area of research that will break the rule of the perfect shift toward customized care.
Telemedicine Emerges as a Capital Investment
Telemedicine has attracted the highest investment by venture capitalists in the last two years. To penetrate rural areas, telemedicine service providers have been providing a 360-degree solution that supports patients.
Essel, a health tech startup in MENA, raised $1.7 million; this is as the firm looks to extend its presence across the Middle East with increased investment in product development and growth in headcount. The company presents an avenue through which people can reach out and consultants who bring solutions to their problems.
Digital Innovation Reshaping the Middle East Healthcare
The reports published by the Organization for Economic Corporation and Development indicate that investment in digital health systems could improve performance and health outcomes in the Middle East. From AI-driven remote patient monitoring to telemedicine and blockchain security, the Middle East is building a healthcare system that not only is efficient and accessible but also patient-centered.
With the power of technology, they can create an all-inclusive and sustainable health model for the world.
Conclusion
The middle eastern healthcare sector is transforming quickly with the surge in demand for medical devices, home healthcare services, and telemedicine. This is accompanied by the emergence of specialized Centers of Excellence and growth in biotechnology. Governments and private investors see an opportunity in MedTech towards eradicating both chronic diseases and infrastructure gaps and are thus opening the doors to innovation and personalized care.
Modern healthcare technologies are transforming the region, so it is positioning itself as a growth platform for MedTech investments, thus offering opportunities towards sustainable growth with better health outcomes. This investment will probably allow for future-ready medical solutions to reach across the Middle East, cutting across boundaries to improve the quality of its citizen’s life.
