MENAâs healthcare services market stood at $226.97 billion in 2023 and is projected to grow to $241.13 billion this year, reaching $412.25 billion by 2032, according to Fortune Business Insights.
Meanwhile, the GCC has been experiencing a significant surge in healthcare investments. According to an HSBC Kuwait report citing Alpen Capital, as of March 2023, the region was home to 161 ongoing healthcare projects valued at $53.2 billion. Saudi Arabia led the way, with 19.2% of these projects under construction in the kingdom at the time.
Other key developments have resulted in new entries to this yearâs Top 100 Healthcare Leaders list. Notable among them is Saudi Arabiaâs Health Holding Company, the state-owned entity led by Nasser Al Huqbani, which is set to absorb the Ministry of Healthâs assets and manage healthcare clusters across the kingdom, and Mazen Fakeeh who led the listing of the Fakeeh Care Group on the Saudi Exchange in June 2024. The sector also saw Hasan Jasem Al Nowais leading the launch of M42 in the U.A.E. in April 2023, following the merger of Mubadala Health and G42 Healthcare.
This yearâs list features 51 leaders based in the U.A.E., 23 in Saudi Arabia, eight in Egypt, four each in Qatar, Kuwait, and Morocco, three in Jordan, two in Tunisia, and one each in Algeria and Lebanon.
Representing a comprehensive health ecosystem across the region, the list includes 33 pharmaceutical companies, 31 leaders of groups operating hospital facilities, 13 leaders of diversified businesses, five heads each in medical devices and technology, and three leaders of major pharmacy chains.
1 Shaista Asif
Cofounder & Group CEO
Company: PureHealth Holding
Nationality: Pakistani
Residence: U.A.E.
Category: Diversified
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Celebrating Emirati Businesswomen and Entrepreneurs on Emirati Women's Day
As part of the U.A.E.âs annual Emirati Womenâs Day celebrations, the Abu Dhabi Business Women Council and the Abu Dhabi Chamber hosted an event on August 28, 2024, under the theme âWe Collaborate for Tomorrow,â celebrating the role and achievements of Emirati women.
THE MIDDLE EAST'S TOP 100 HEALTHCARE LEADERS 2024
MENAâs healthcare landscape is evolving towards integration, marked by the rise of fully comprehensive ecosystems. Industry giants are setting future trends, driven by systems that thrive on data abundance, accessibility, and intersectoral collaboration.
SCOUTING FOR OPPORTUNITIES
Ayman Cheikh-Lahlou, Chairman and CEO of the Morocco-based Cooper Pharma, took the helm of the family-owned pharmaceutical company in 2005 and has seen business boom over nearly 20 years. Now, heâs exploring expansion opportunities in new markets.
TURNING THE TIDE
Irina Zaporozhets, President and General Manager for Eli Lilly Suisse S.A. in the META region is driving expansion, focusing on innovation and patient-centric care. As she navigates regional challenges, her commitment to expanding access to medicine remains at the forefront.
Supercharging AI
Armed with a newly raised 640 million, GROQ thinks it can challenge one of the worldâs most valuable companies with a purpose-built chip designed for Al from scratch.
How Technology is Accelerating Digital Equality in Diverse Markets
The rise of smartphones and digital technologies has transformed our daily lives, contributing to the evolution of connected consumers.
Rare Fortune
Money manager JAMES LITINSKY turned a bad junk bond bet into a $400 million fortune. His MP Materials operates a strategic mine and will begin manufacturing supermagnets for electric vehicles next year.
The State of Mental Health in the Middle East
While mental health awareness is on the rise, the Middle East faces some challenges in providing care. Still, we're seeing some progress.
Big Breakthroughs
From gene therapy to nasal sprays, these were some of the most significant healthcare breakthroughs in the last year.
MENA's 5 Most Valuable Healthcare Companies 2024
The combined market cap of 57 healthcare companies listed on MENA's stock exchanges hit $83.7 billion on August 13, 2024, with the top five companies accounting for about 62.4% of the total market cap. These are MENA's five most valuable healthcare companies in 2024.
