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|15 October, 2018

$11.5bln in UAE digital health start-ups: Arab Health Report

Market is ripe for new healthcare start-ups and entrepreneurs looking to make their mark on the industry

Image used for illustrative purpose. Robotic equipment holding a syringe in a laboratory.

Image used for illustrative purpose. Robotic equipment holding a syringe in a laboratory.

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DUBAI - Arab Health, an exhibition for healthcare and trade professionals in the MENA region, has outlined the role of tech start-ups in playing a more vital role in the healthcare industry in areas such as personalised medicine and more efficient technology-enabled care models.

The report, titled 'Technology: Accelerating Innovation Across Healthcare', revealed that digital health start-ups are said to have raised US$11.5 billion in 2017, up 27 percent from 2016, exponentially increasing the pace of digital innovation in healthcare.

"The market is ripe for new healthcare start-ups and entrepreneurs looking to make their mark on the industry. Over the years, we have seen growing interest in new products and innovations that will contribute to shaping the future of healthcare. Hospitals, medical device manufacturers and service providers across the globe are facing increasing pressure to innovate in order to become competitive," said Ross Williams, Exhibition Director of Arab Health.

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The report outlines the positive impact of technologies such as artificial intelligence, AI, virtual reality, wearable technologies, 3D printing and drones as an agent for transformation in healthcare.

According to Research and Markets, the global wearables medical devices market will reach US$14.41 billion by 2022, up from US$6.22 billion in 2017 at a compound annual growth rate of 18.3 percent during the forecast period. With similar strong growth predictions in all markets, cost savings and quality improvements in healthcare are increasingly emerging from innovative solutions.

The Innovation Hub will feature the Innovation Showcase allowing visitors to explore healthcare technology including AI, disease management, home care devices, mobile device accessories, and telemedicine platforms, to name a few.

In the report, Thom Soutter, Director of Business Development, Synapse Medical Services, said, "Technology is at the forefront of any lean innovation that is required to disrupt outdated models that are costing healthcare spend, and innovation and telehealth advancements cannot come soon enough. A shift towards preventative methods is needed more than ever as an alternative to curative medicine where appropriate. Healthy lifestyle apps, telehealth and patient engagement through technology will be the key." Working alongside government entities such as UAE Ministry of Health and Prevention, Dubai Health Authority, Department of Health Abu Dhabi, and SEHA, Arab Health will host the new Innovation Hub - an area at the show for attendees to immerse themselves in the latest healthcare innovations.

The Innovation Hub will also be the platform for the inaugural Innov8 Talks at Arab Health.

Organised by Informa Life Sciences Exhibitions, the 44th Arab Health Exhibition and Congress takes place from 28th – 31st January 2019, at the Dubai World Trade Centre, and will welcome more than 4,150 exhibiting companies from 66 countries and more than 84,500 attendees from across the globe.

© Copyright Emirates News Agency (WAM) 2018.