By Vinod Kumar (UAE):
Arab Health 2024 has made a grand return to Dubai, drawing healthcare leaders, innovators, and visionaries from around the globe. The event, renowned as an international meeting point, aims to facilitate knowledge exchange, inspire with proven solutions, and drive positive change, fostering a robust and sustainable environment in the healthcare industry.
With India actively participating in this global convergence, a team of over 20 manufacturers specializing in medical devices and healthcare equipment is poised to seize the opportunities presented at Arab Health 2024. This gathering serves as an invaluable platform for stakeholders to share information, showcase products, exchange services, and collaborate on ideas aimed at advancing health-related Millennium Development Goals and other developmental initiatives in the Middle Eastern region.
A report by the Boston Consulting Group and B Capital highlights the anticipated growth of the Indian healthcare industry, estimating its value to reach $37 billion (Rs 3.08 lakh crore) by 2030. Globally, the medical devices market is projected to soar to $718.92 billion by 2029, with India’s medical devices market projected to reach USD 50 billion by 2025.
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) is a pivotal factor in the bilateral trade trajectory, aiming to elevate it to a staggering US$100 billion by 2030. In the realm of engineering, the UAE ranks among the top three export destinations for Indian engineering products, constituting around 5 percent of India’s global engineering exports. The bilateral trade between India and the UAE reached a substantial USD 77.63 billion during 2022-2023, reinforcing India’s position as one of the largest trade partners for the UAE.
The 2024 edition of Arab health is set to host over 3,450 exhibitors from 70 countries, attracting nearly 68,000 healthcare professionals from more than 180 countries. This convergence provides a unique opportunity for businesses to establish new connections, strengthen relationships with existing clients, and explore avenues for furthering business opportunities in the region.Arab Health stands out as the largest gathering of healthcare and trade professionals in the MENA region, playing a vital role in bringing together policy drivers, thought leaders, and healthcare professionals through trade and innovation. From cutting-edge imaging equipment to revolutionary developments in surgery and prosthetics, Arab Health remains the heartbeat of healthcare in the Middle East.
As the UAE faces the challenges of a growing urban and working population, the rapid evolution of the healthcare sector is imperative to meet the nation’s ever-changing needs. With aspirations to become the medical tourism hub of the Middle East and reduce the number of patients seeking critical treatment abroad, the UAE places significant importance on procuring world-class medical devices. Given India’s flourishing medical devices industry, the UAE emerges as a crucial destination for Indian exporters seeking to contribute to the development of the UAE’s medical infrastructure. Arab Health 2024, therefore, becomes a pivotal platform for Indian exporters to showcase their prowess and forge meaningful collaborations in the global healthcare landscape.