MarkNtel Advisors presents a comprehensive research report on the Egypt Healthcare Market Size, Share, Analysis, Future expected to reach CAGR of 10.79% by 2028. delving into a thorough analysis of the industry's changing dynamics, growth drivers, challenges, key trends, and lucrative opportunities. This study aims to provide stakeholders in the market with detailed insights, enabling them to make informed and strategic decisions that will yield higher revenues in the coming years. With a focus on delivering value, the report covers a wide range of aspects, ensuring a holistic understanding of the market landscape.
Unlocking Market Insights: Exploring Key Aspects in the Egypt Healthcare Market Report (2023-2028)
- It analyzes the fluctuations in revenue across different segments and geographical regions, considering the evolving trends and purchasing patterns of end-users.
- The report highlights key developments, including the introduction of new services, expansion of product portfolios, revenue generation strategies of major players, stakeholder investments, and the role of governments.
- Additionally, it offers an unbiased overview of market trends, innovations, technological advancements, and fluctuations, as observed by industry experts.
- To ensure reliable data generation and analysis, the report utilizes tools such as SWOT (Strengths, Weaknesses, Opportunities, Threats) and PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis.
- The competitive landscape section of the report showcases the dynamic strategies employed by leading players to enhance profit margins and expand their market presence across different regions.
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Market Dynamic
Key Drivers: Launch of Universal Health Insurance Plan to Boost the Market Growth
Since the historical years, the Egypt government has been constantly focusing on providing quality healthcare cost-competitive medical services to residents to improve access to healthcare. As a part of the initiative, in 2018, the government launched a Universal Health Insurance (UHI) plan, 2032, to increase the adoption of advanced healthcare facilities among individuals.
Due to the high medical cost of treatment, the economically poorer section often abstains from availing the medical services, which in some cases contributes to a higher disease burden in the country. Hence, with the implementation of the plan, around 55.6 million populations were covered under the insurance scheme, according to the Government of Egypt. This notably resulted in an increased demand for healthcare services among the citizens.
Hence, the initiative of the Government of Egypt to provide healthcare subsidies is anticipated to have a significant impact on the healthcare market and would drive the need for cost-competitive efficient medical services in Egypt during 2023-2028.
Growth Restraints: Unavailability of Skilled Manpower to Widen the Gap Between the Demand for Healthcare Services
As immigration activities increase in Egypt, the healthcare sector is experiencing a shortage of physicians. This has led to a significant decline in the demand for domestic healthcare services. According to the Egyptian Medical Syndicate, between 2018-2019, more than 10,000 doctors resigned from public healthcare institutions in Egypt to earn a competitive salary in other countries such as the US, the UK, etc., resulting in a shortage of secondary care staff in the country. For instance:
- In 2019, the Egypt Ministry of Health reported a dearth of specialized medical staff reporting just 103,000 doctors for over 100 million of the population. This data suggests an average of 10 doctors per 10,000 citizens, while the global average is 32 doctors per 10,000 citizens.
The factors contributing to the high immigration rates shortage of skilled manpower are low salaries, undesirable working conditions, lack of equipment supplies, and exposure. Hence, the difficulty in retaining skilled medical staff is a prominent factor that has hindered the Egypt Healthcare market.
However, presently, domestic healthcare companies such as Saudi German Hospital, As Aslam International hospital, among others, are considering hiring skilled medical staff from India, the US, etc. Additionally, domestic healthcare firms are focusing on providing the medical staff with competitive salaries training activities. Hence, this would mitigate the present healthcare hindrance in Egypt in the upcoming years.
-Cleopatra Hospital Group
-Saudi German Hospital
-As-Salam International Hospital
-Katameya Clinic Hospital (KCH)
-EL Nozha International Hospital (NIH)
-Wadi ElNeel Hospital
-Arab Contractors Medical Center
-Ganzouri Specialized Hospital
-Others
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Segmentation Unveiled: Analyzing Egypt Healthcare Market's Expansion and Mapping Demand, and Distribution across Geographies
By Type of Hospitals
-Government
-Non-Government
-By Specialization
-General Hospitals
-Specialized Hospitals
By Disease Type
-Diabetes
-Cancer
-Cardiovascular
-Neurological
-Respiratory
-Bone Skeletal
-Eyes Nose Throat (ENT)
-Others
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On the geographical front, the Egypt Healthcare Market expands across:
By Regions
-Cairo
-Dakahlia
-Giza
-Alexandria
-Others
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