OMAN HEALTH 2024 - International Exhibition of Health Products and Equipment, Sports & Fitness, and Medical Services

OHEC is closely aligned with the Oman Vision 2050 plan which focuses on ensuring excellent health and productivity of the nation’s citizens through establishment of a well-organised, equitable, efficient, and responsive healthcare system. Oman's continuing reliance on imports for the bulk of the country's requirement of medicines, pharmaceuticals and surgical consumables opens up promising opportunities for private sector and foreign investment. With heavy investments in the health sector over the last decade, the Sultanate of Oman aims to create a modern sustainable healthcare system. To continue focusing on improving quality of care, the healthcare expenditure in Oman is forecast to grow at a CAGR of 4.7% between 2022 and 2027 to reach US$ 6.1 billion, the fastest in the GCC region. The Ministry of Health (MOH) in Oman has been actively investing in healthcare infrastructure and services to ensure the delivery of high-quality healthcare to its citizens and residents. According to reports from Fitch Solutions, the Omani healthcare market is projected to grow at a compound annual growth rate (CAGR) of 5.9%, reaching a market value of OMR 1.6 billion (USD 4.3 billion) by 2025. This growth is attributed to ongoing investments in both public and private healthcare services. In January 2023, the MOH initiated 19 investment projects, 11 investment opportunities, and 14 empowerment projects. The private sector's contribution to total healthcare spending is expected to increase steadily, rising from 12.1% in 2020 to 12.3% by 2025 and further to 13.2% by 2030. This uptrend is influenced by the implementation of the country's mandatory private health insurance scheme in 2021 and the expanding portfolio of Public-Private Partnerships (PPPs), aligning with Oman's 2040 Vision. Consequently, multinational healthcare and pharmaceutical companies are poised to explore opportunities in Oman, a nation characterized by high incomes, a surge in non-communicable diseases (NCDs), and rapid urbanization. The demand for improved healthcare services is expected to surge in Oman as the population is projected to reach 5.4 million by 2027. To meet the growing patient population, the bed requirement in Oman is anticipated to grow at a CAGR of 3.2% through 2027, the highest among GCC countries. This translates to a need for over 1,237 new beds, reaching a total capacity of 8,493 beds.

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