(MENAFN) A report by Sharjah Investment and Development Authority (Shurooq) predicted the Gulf emirate's healthcare sector to grow by 9.3 percent over the next four years, Arabian Business reported.
Marwan bin Jassim Al Sarkal, CEO of Shurooq, said the sector would see a big growth, driven by giant projects and state-of-the art medical facilities currently being set up in the emirate, most notably the Sharjah Healthcare City (SHCC).
He added that by 2016, the sector would be worth more than USD1.77 billion, up from just over USD1.22 billion this year.
Shurooq's study divided the healthcare sector into two-sub sectors - healthcare services and pharmaceuticals.
The study estimated the demand for healthcare services at USD734.9 million this year.
Pressure is growing on the emirate's 15 hospitals accommodating 898 beds as the emirate's population is growing, and the study estimated that Sharjah will need additional 633 beds over the next five years.
It also showed that there are only eight pharmaceutical manufacturers in the UAE, including one in Sharjah and 275 pharmacies across the emirate, adding that more were needed.