Why this is important to Wisconsin businesses: The government is investing heavily in hopes of creating a regional hub within the Middle East.
The United Arab Emirates (UAE) is at the forefront of the region’s life sciences sector thanks to its National Vision of achieving world-class, internationally recognized health care infrastructure. Its government is committed to continuously and strategically improving the quality of health care and laboratory services in the country.
Thus far, the UAE has conducted more than 3 million coronavirus tests, and ranks first globally in COVID-19 screening per capita. The emirate of Abu Dhabi has launched an initiative called Hope Consortium, which aims to distribute 6 billion COVID-19 vaccine doses around the world. It provides a complete supply chain solution to address the transport of vaccine, demand planning, sourcing, training and digital technology infrastructure, aiming to make the vaccine rapidly available across the world.
The emirate of Dubai has a dedicated free zone for the life sciences industry called Dubai Science Park. It is a community focused on sciences, energy, and environmental sectors. The free zone comprises 350 companies, with 3,700 professionals. Despite experiencing an marked upward growth, the UAE life sciences sector is still far from becoming the hub it would like to be. The local government realizes this and is setting aside funds for local entrepreneurs, small and midsize enterprises, and startup training and development to encourage growth in this sector.
Marwan Abdulaziz, managing director at Dubai Science Park, said the U.S. has 5,000 scientists per million, compared to the Middle East rate of 1,000 scientists per million. The region has a need innovation and expertise in the areas of vaccines, pharmaceuticals and biotech.
The UAE and Saudi Arabia are also driving the growth of in vitro diagnostic products using next-generation sequencing technology. The UAE life sciences sector is set to grow significantly in the coming years as a pharma hub to cater to the wider Middle East region, creating more opportunities for Wisconsin companies in the market.
Relevant trade shows include:
June 21-24, 2021
Medlab Middle East
June 28-July 1, 2021