Qatar focused on developing the healthcare sector
28/04/24
Qatar`s healthcare sector is expected to increase at a compound annual growth rate (CAGR) of 5.2 percent by 2028 according to data by Fitch Solutions.
Analysts predict such figures based on recently completed world class infrastructure and budgeted ongoing development planned for the upcoming year. Most importantly the healthcare sector is a priority of the the government over the medium term.
Demonstrating this, the healthcare allocation from the 2024 budget amounts to 11% of Qatar`s total budget of QAR 200.9 billion (USD 55.1 billion). This percentage is consistent with last year’s allocation for the sector and aligns with the healthcare goals of the States National Vision 2030. Such goals include the enhancement of access to care, an increase in research and development and continued work to the digitise the industry.
This year, the government is primarily focussing on infrastructure required to host numerous events and mega platforms in upcoming years. As a result, investment in Qatar’s Medical City, a medical complex situated in the capital city Doha and managed by Hamad Medical Corporation (HMC), will concentrate on speciality secondary and tertiary care. This includes the enhancement of Qatar’s National Cancer Hospital and the establishment of a psychiatric hospital among other projects.
In further healthcare news, Qatar’s pharmaceutical supply chains will undergo a fundamental transition thanks to a joint initiative between the GS1 Qatar Office, an entity operating under the umbrella of Qatar Development Bank (QDB) and the Ministry of Public Health (MoPH).
The iniative will see a global system introduced to regulate and track commercial drug circulation by implementing a two dimensional barcode and serial coding system for locally manufactured and imported pharmaceuticals. The joint initiative will enhance the performance and efficiency of Qatar’s pharmaceutical supply chain.
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