KFH: Kuwait's health care fastest growing industry

Health care is the fastest growing industry in Kuwait because of increasing demand for up-to-date treatment coupled with growing average of age of people, a specialized report said Friday. Kuwait health ministry is the administrator, organizer and financer for almost all health care services in Kuwait in addition to purchase of medications and medical equipment, the report by Kuwait Finance House (KFH) said. Kuwait spends 2.8 percent of its gross domestic product (GDP) on health care compared with 3.4 percent in Saudi Arabia and 8.9 percent in Jordan, noted the report. Kuwait medicine market grew by 9.9 percent last year to reach 301 million Kuwaiti Dinars (KD) (USD 1.06 billion), said the report and anticipated the market to grow to KD 421 million (USD 1.48 billion) by the year 2017. KFH predicted that health care in Kuwait to be subjected to major reforms amidst plans to establish a new company that would build health insurance hospitals. This company, added the report, was part of the development plan of Kuwait with the objective of providing quality medical services for expatriates. The company, it went on, planned to build three hospitals in Al-Jahra, Farwaniya and Ahmadi governorates in addition to 15 clinics in different parts of Kuwait. This huge project, said the report, would create jobs for 1,400 doctors, 4, 000 nurses and technicians as well as providing 1,600 beds.