Qatar's private healthcare expenditure is expected to grow at 8.8% in the next 10 years, faster than the 5.8% in public healthcare, offering abundant opportunities, according to a BMI Report.
The healthcare expenditure in Qatar is slated to grow steadily from QR15.4bn in 2016 to QR27.1bn in 2026; representing a compound annual growth rate of 5.8% in local currency and US dollar terms.
The report forecast the private healthcare expenditure in Qatar to grow at a faster 10-year CAGR of 8.8% in local currency and US dollar terms, at which point the private sector will account for around 20% of total health expenditure in the country - up from 15% in 2016.
The healthcare spending growth is expected to outpace gross domestic product growth over the forecast period, reflecting Qatar's increased focus on the healthcare sector development.
The report also noted that Qatar's budget for this year includes an allocation of QR24.5bn for the healthcare sector, representing 12.3% of the total allocation, a small increase on 2016 when the budget was QR20.9bn, corresponding to 10% of total expenditure.
As part of the country's National Health Strategy, the Supreme Council of Health developed a 20-year blueprint (2013-33) for improving healthcare across the country. The Qatar Health Facilities Master Plan will make up a significant component of this roadmap, responsible for the planning and delivery of new health infrastructure projects, it added.
In a major expansion program, the Hamad Medical Corporation (HMC) will open seven new hospitals in Qatar creating more than 1,100 hospital beds by the end of December 2017.
In the biggest boost to hospital bed numbers in Qatar, the equivalent of almost 60 new beds each month will be created in specialties where there is a high demand for services, enabling more patients to access care at these state-of-the-art hospitals, reported Qatar Tribune.
The seven hospitals are Communicable Diseases Center, Women's Wellness and Research Center (WWRC), Ambulatory Care Center, Qatar Rehabilitation Institute, and three Industrial Area hospitals.