UAE market for wellness products set to grow further at a rapid pace driven by population increase, higher disposable incomes and rising health and wellness conscious lifestyle

Dubai, May 28, 2008: Gulf Med FZE, the wholly-owned subsidiary of Gulf Drug Establishment owned by Dr Hasan Al Moosa family - the pioneering pharmaceutical and healthcare entity established in Dubai in 1969, today announced partnering with the US-based HoMedics, global leader in personal wellness solutions, to cater to the increasing demand for affordable personal health care and wellness products in the region.

Under the terms of the partnership, the UAE-based company, Gulf Med FZE, will be the sole distributors for HoMedics products for the UAE, Qatar, Oman, Bahrain and Jordan. For HoMedics, the partnership offers a debut foray into the Middle East market where health care market is growing at a rapid pace.

Addressing a press conference, Dr. Zeyad Al Moosa, Managing Director of Gulf Med FZE, said: "Personal wellness market is a relatively new category in the Middle East health care sector, but with the rise in disposable incomes, increase in population and a fast emerging health and wellness conscious lifestyle, the demand for personal wellness products and solutions is set to grow exponentially in the coming years." 

UAE in Focus

Elaborating on the partnership, he said that initially Gulf Med will focus on the UAE market, which is the second largest health care market after Saudi Arabia, and develop other GCC markets in the second phase.

 "Over the years, the UAE has witnessed significant expansion in health care and wellness facilities, which in turn has positively catalysed the appeal for healthy living.  The total health care market is reportedly estimated to touch US$12 billion by 2015 from the current over US$3 billion and wellness products and services sector will have a salient role to play in this growth market," Dr. Zeyad said, adding that the potential for growth has also exponentially increased with the UAE gradually becoming a destination for health care and wellness. 

"According to our studies, the market for wellness products such as the ones HoMedics specialises in is   growing in the UAE. However, our aim is to exploit the potential and develop the market more by increasing the awareness on this area of health care. Gulf Med will not only look at increasing the market share but also to influence the consumer towards improving the quality of life," he added.

Gulf Med had done soft marketing and road shows of HoMedics products in the UAE in partnership with leading pharmaceutical/retail outlets and the results have been extremely encouraging.

"Significantly, the idea of personal wellness has trickled down from the rich to middle-income segments of the population, expanding the market further. In this context our partnership with HoMedics will enable us to offer affordable, easy-to-use,  personal wellness products  which can be used at home (or office)  with minimum time investment and is a significant opportunity to  contribute to healthy living and spread the adage `Health is wealth' further," Dr. Zeyad added.

Middle East Debut  

Commenting on the partnership with Gulf Med, Mr. Stuart Burrows, the International Sales Manager of HoMedics said the Middle East now offers a robust market for health care and wellness products compared to a few years ago with increased spending power.

"It is significant to note that the demography of the region is dominated by a lion's share of youth population. Combined with increased spending power, thanks to booming economies, the lifestyle aspirations of majority  now encompasses healthy body and mind as well, offering us  an excellent opportunity to enter the market," said   Mr. Burrows.

HoMedics offers an assortment of wellness products across the world, from state-of-the-art digital blood pressure monitors to sound spas, sleep products, relaxing massaging recliners and luxurious neck or shoulder massagers to super-accurate scales.

"We are glad that we are joining hands with one of the pioneering pharmaceutical and health care entities in the whole of the region and together we would be able to offer cutting-edge wellness products to the discerning customers of the region," Mr. Burrows added.

-Ends-

Gulf Med FZE
Established in 2002 Gulf Med FZE is a wholly owned subsidiary of the oldest and pioneering health care and pharmaceutical company, Gulf Drug Establishment, established in 1969 in Dubai.  Located at the Dubai Airport Free Zone, Gulf Med has a portfolio of 800 products, representing 6 principals from across the world. These principals include Honeywell, Golden Technologies, Argentum Medical, Owen Mumford and Softacare. See www.gulfmedfze.com

HoMedics
HoMedics is the innovative leader in self-care, wellness and personal health products and offers an extensive line of personal wellness items designed to restore the balance between mind, body and soul.

To see the full range of products see www.homedics.com

For more information, Please contact:
Jayakrishnan B/Zoheb Bashir
JamQ Communications FZ LLC
Phone: (O) 00971 43298313/(M) 00971 50 3629823/6962042

© Press Release 2008