The study said Qatar offers the perfect example of how a collaborative approach brings together innovative ideas, sound investment and essential support to enable a promising project to flourish. Qatar Science & Technology Park (QSTP) offers a dedicated free zone for technology and innovation, where entrepreneurs and start-ups are empowered to realize their full potential and achieve sustainable growth.
The study added that Droobi is another QSTP success story, providing the worlds first suite of bilingual (Arabic and English) digital therapeutic programmes using a host of best-in-class technologies. It integrates technology, healthcare professionals, data analytics and the science of behavior change to help people manage their chronic diseases more effectively and reduce the risk of developing other diseases.
It pointed out that foreign investors will find a valuable and competitive business climate in Qatar, backed by a stable and resilient economy, pro-business regulations and a vibrant knowledge ecosystem. The country's strategic investments in healthcare institutions, skilled talent and world-class tech infrastructure pave the way for remarkable growth and innovation in the healthcare sector. The global healthcare industry is on the cusp of a significant transformation, with projections indicating that health spending could almost triple to $30 trillion by 2050, according to the Institute for Health Metrics and Evaluation.
The study outlined that the increased demand for healthcare has been driven by several factors. The pandemic significantly heightened awareness of personal health and well-being; people are investing more to prevent and manage the rise in health challenges. Technological advancements have made health products more accessible, while remote work and lifestyle changes now allow people to focus more on themselves, adding that GCCs medical tourism revenue is projected to grow to $2.1bn this year, recording a CAGR of 8.9% since 2017. The study noted that over the next 10 years, digital infrastructure, virtual care, remote patient monitoring and AI will account for approximately 30% of hospital investments in the region.
The study said that with a projected market growth of $8.6bn in the Middle East by 2032, the GCC is progressively fostering the advancement of research in areas such as precision medicine.
Source: Qatar News Agency
