Shot in the arm for $12bn regional pharma market
[2008-4-7]
The Middle East's pharmaceutical market - estimated to be worth more than $12bn - can expect a major boost from moves to liberalise regional economies and the introduction of mass health insurance, according to industry analysts.
'Both these trends are leading to huge investment taking place in both the private and public health sectors with major benefits to the pharmaceutical industry,' said Simon Page, Group Director of Life Sciences at IIR Middle East, organisers of the Pharmaceutical and Biotechnology Middle East (PABME) exhibition and conference to be held on 27 to 29 April 2008 at the Dubai International Exhibition Centre.
The spur from market liberalisation and health insurance are not the only driving factors for the region, however. 'The Middle East is striving to become increasingly self-sufficient in pharmaceutical production,' Page added. 'The number of pharmaceutical manufacturers now operating in the Middle East is estimated to be over 450 and they are also determined to grab a share of the global export, research and contract manufacturing markets.'
Research studies indicate that by 2020 the global pharmaceuticals market will be worth about $1.3 trillion. In the US and Europe, however, market growth is slowing to under 5% because of factors such as the declining cost of drug treatment for major therapies and uncertainty over safety.
In contrast, in emerging economies such as the Middle East pharmaceutical markets continue to grow at between 10% and 15% a year, driven by greater access to generics and innovative new medicines as primary care improves and more people are covered by health insurance.
'Unfortunately, another one of the reasons is that the people of the developing world are becoming more like their counterparts in the developing world,' Page said. 'In the developing world, chronic diseases are the leading cause of death and that is a pattern that is becoming more prevalent every year in regions such as the Middle East as people get older, more overweight and less physically active.'
A major regional indicator is diabetes. The number of people with diabetes in developing countries back in 1995 was 84 million. By 2025 the figure is expected to hit 228 million with India, the Middle East and South East Asia bearing the worst of the burden, according to a report by Price Waterhouse Coopers.
Within the Arabian Gulf, major initiatives are taking place in the pharmaceutical industry fueled by 100% ownership and generous benefits for overseas companies setting up. Examples include Saudi Arabia's $534m King Fahd Medical City in Riyadh and the launch of Dubai Biotechnology and Research Park (Dubiotech), the Middle East's first dedicated life sciences hub which will cover 30 million square feet upon completion.
More than 100 companies from over 25 countries in the Middle East, Asia, Europe, the Americas, Africa and Australasia will be exhibiting at PABME. Running alongside will be a series of high-level conferences covering regulatory approval, intellectual property rights, clinical trials, outsourcing, contract manufacturing and research, drug discovery, biologics, medical devices and finance. Dubiotech is a leading sponsor of PABME 2008 which is also supported by the Ministry of Health of the United Arab Emirates.
'Both these trends are leading to huge investment taking place in both the private and public health sectors with major benefits to the pharmaceutical industry,' said Simon Page, Group Director of Life Sciences at IIR Middle East, organisers of the Pharmaceutical and Biotechnology Middle East (PABME) exhibition and conference to be held on 27 to 29 April 2008 at the Dubai International Exhibition Centre.
The spur from market liberalisation and health insurance are not the only driving factors for the region, however. 'The Middle East is striving to become increasingly self-sufficient in pharmaceutical production,' Page added. 'The number of pharmaceutical manufacturers now operating in the Middle East is estimated to be over 450 and they are also determined to grab a share of the global export, research and contract manufacturing markets.'
Research studies indicate that by 2020 the global pharmaceuticals market will be worth about $1.3 trillion. In the US and Europe, however, market growth is slowing to under 5% because of factors such as the declining cost of drug treatment for major therapies and uncertainty over safety.
In contrast, in emerging economies such as the Middle East pharmaceutical markets continue to grow at between 10% and 15% a year, driven by greater access to generics and innovative new medicines as primary care improves and more people are covered by health insurance.
'Unfortunately, another one of the reasons is that the people of the developing world are becoming more like their counterparts in the developing world,' Page said. 'In the developing world, chronic diseases are the leading cause of death and that is a pattern that is becoming more prevalent every year in regions such as the Middle East as people get older, more overweight and less physically active.'
A major regional indicator is diabetes. The number of people with diabetes in developing countries back in 1995 was 84 million. By 2025 the figure is expected to hit 228 million with India, the Middle East and South East Asia bearing the worst of the burden, according to a report by Price Waterhouse Coopers.
Within the Arabian Gulf, major initiatives are taking place in the pharmaceutical industry fueled by 100% ownership and generous benefits for overseas companies setting up. Examples include Saudi Arabia's $534m King Fahd Medical City in Riyadh and the launch of Dubai Biotechnology and Research Park (Dubiotech), the Middle East's first dedicated life sciences hub which will cover 30 million square feet upon completion.
More than 100 companies from over 25 countries in the Middle East, Asia, Europe, the Americas, Africa and Australasia will be exhibiting at PABME. Running alongside will be a series of high-level conferences covering regulatory approval, intellectual property rights, clinical trials, outsourcing, contract manufacturing and research, drug discovery, biologics, medical devices and finance. Dubiotech is a leading sponsor of PABME 2008 which is also supported by the Ministry of Health of the United Arab Emirates.
Related News »
In Focus »
footwear exports
Last month, European footwear manufacturers proposed extending anti-dumping measures against ..
B2B Keywords:
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
International market Chinese Importer Wholesale trade Wholesale products World trade Wholesale distributors International trade Foreign trade Wholesale distributor Importers Import export business Sell online Help u sell Global trade How to market a product Online supplier Wholesale product
Feature Products»
Hot Products: A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 0-9
-
-
About Us -
Links -
Privacy Policy -
Terms of Use -
Site Map -
Contact Us -
Call Center: 0086-95105561 © 2007 Tootoo.com -
