Recent years have witnessed an increasing growth of forward-looking innovations and transformations within the healthcare industry, including emerging biotech and healthtech startups and initiatives, AI, robotics, and digital integration and automation.
CB Insights reported a contraction of 57% in the digital health sector in 2022 compared to the previous year, recording $25.9 billion in funding deals, but MENA’s Healthtech startups raised $124 million through 53 deals in 2022, according to Wamda.
The GCC is continuing to build a comprehensive health ecosystem, with intensified activity in public-private partnerships. In 2022, Saudi Arabia’s healthcare expenditures were estimated to have reached $20.7 billion, nearly 8% of its budget in 2022, and $21.5 billion, 7% of its budget in 2023, according to the Saudi Ministry of Health. The U.A.E. dedicated 8.09% of its federal budget to healthcare and community protection in 2022.
In 2022, the Saudi Stock Exchange saw three listings of healthcare companies: Scientific and Medical Equipment House Co. in February 2022, and Nahdi Medical Company and Al-Dawaa Medical Services Company in March 2022. Abu Dhabi’s ADX also witnessed the listing of Burjeel Holdings in October 2022, which boosted Shamsheer Vayalil’s net worth to reach $2.3 billion in February 2023.
Our 2023 list of the Middle East’s Top 100 Healthcare Leaders features 101 of the region’s most influential healthcare heads across pharmaceuticals, medical facilities, technology, medical equipment, and healthcare investment, all playing an influential role within MENA’s healthcare ecosystem in 11 countries. The U.A.E. dominates with 44 entries, followed by Saudi Arabia with 26 and Egypt with eight.