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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
James McMillan - Senior Associate - Commercial / Regulatory
Andrew Moroney - Senior Associate - Commercial
Ujjwal Ashok - Intern - Commercial
The proliferation of cutting-edge technology in the fields of sports science and sports injury prevention/rehabilitation has increased substantially in recent years. Embracing such technology has, in turn, significantly boosted the sports medicine market, which is expected to surpass US$9 billion by 2025, with an annual compound growth rate of six percent from 2019-2025 .
This increased demand for sports medicine related services can be attributed to a host of factors, such as:
North America dominates the global sports medicine market, accounting for almost 50.5 percent of the market. This is primarily due to the high incidence of sports participation and related injuries, which has created a demand for innovative sports science products and technologies, prompting increased government investment and funding in regenerative medicine.
The European sports medicine market is the second largest market, followed by the Asia Pacific region. The MENA sports medicine market is currently smaller; however, it is set to grow at an accelerated pace.
Continual advancements in sports science research and development has resulted in numerous innovative technologies. Such technologies help maximise the ability of athletes to train and perform at a high-level, thereby reducing the otherwise vast costs incurred by sports teams and athletes on injuries alone. Some examples of theses technological developments are:
The benefits of real time player data collection are that it gives coaches extra information on which to base their decisions, such as the optimal time to make substitutions or changes in strategy.
One major obstacle for clinics considering whether to offer state-of-the-art sports science diagnostics and technologies is the current high cost of the equipment. The UAE has emerged as a go-to sports science/rehabilitation destination by prioritising investment in such equipment and the provision of treatment.
The UAE government has played a significant role in proactively driving medical tourism by introducing new initiatives and incentives such as:
Such initiatives have helped the UAE medical tourism industry grow at a healthy annual rate of 5.5 percent to reach a staggering AED 12.1 billion in 2018 . This rate of growth is showing no signs of slowing down and is set to reach AED 19.5 billion by 2023.
There are numerous examples of cutting-edge clinics opening in the UAE in recent years, which demonstrates the burgeoning potential of the local sports science industry, such as:
Those interested in setting up healthcare establishments and/or working as medical professionals within the UAE are required to obtain a licence to practise professionally and, additionally, a licence to set up the health establishment from the authority concerned, depending on the nature of establishment.
For example, healthcare professionals intending to carry on healthcare services and/or run a healthcare establishment in Dubai must:
In its endeavour to constantly advance health care services, the DHA is in the process of framing certificate of need policies and guidelines for facilitating needs-based investments in healthcare by not creating a situation which could result in an oversupply and therefore the possible redundancy of health facilities, which would be much to the detriment of the customers and investors alike.
Overall, the growth potential of the healthcare industry in the UAE looks extremely bright due, in large part,to a government that is proactive in both its policy-making to attract medical tourists and its significant investment in the sector. The sports science and sports injury prevention/rehabilitation sectors are well set to prosper as a central part of this wider trend.
Al Tamimi & Company’s Healthcare Practice includes lawyers from our Sports & Events Management team who regularly advise on laws and regulations impacting the healthcare sector. For further information, please contact firstname.lastname@example.org.
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