|
|
 |
|
Viewing report
|
|
|
|
Qatar Pharmaceuticals and Healthcare Report Q1 2009
Business Monitor International, Feb 2009, Pages: 51
BMI's Qatar Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Qatar's pharmaceuticals and healthcare industry.
Qatar’s drug market expenditure was estimated at QAR712mn (US$204mn) in 2008 and is predicted to grow to QAR1.26bn (US$0.345bn) in 2013. In this period, Qatar’s GDP growth, government expenditure growth and inflation are all projected to slow and as a result it is also predicted that drug market expenditure will also slow over the forecast period.
Qatar’s dependence on oil exports to fund investment in the health system means that investment may decrease as a result of falling oil prices. This may necessitate Qatar implementing cost-containment measures.
Exchange rates also have a significant impact on Qatar’s pharmaceutical market due to its reliance on imported drugs. The riyal is pegged to the US dollar, which has weakened significantly against the euro over the past year. Since the country is reliant on imported pharmaceuticals to satisfy demand, the cost of medicines from the eurozone has risen by almost 40%. In 2006, France and Germany alone supplied over 20%. Problems are compounded by rumours that Qatar’s Central Bank will seek to break the riyal's peg to the US dollar. This makes distributors wary of holding large stocks of medicine, since a breaking of the peg would make imported medicines cheaper and thus benefit distributor margins.
Despite Qatar’s small market size, its high per capita drug expenditure and a favourable country structure ensure that it scores highly for potential returns. Qatar does not have a local pharmaceutical manufacturing industry, although the recent establishment of a medical device company – the Qatari German Company for Medical Devices (QGMD) – and a biotech research company – the Scientific Medical Applied Research & Development Company (SMARD) – suggests that the country may establish its own pharmaceutical industry in the medium term as part of the government-led drive to
diversify the economy.
Health insurance reforms are likely to redistribute the health expenditure burden further towards the individual over the coming years and there are plans to begin implementation of a health insurance scheme by the end of 2009.
In December 2008, it was announced that the Qatar National Health Authority had stopped imports of products produced by PharmaCare, a drug manufacturing firm in the United Arab Emirates (UAE), since it had been temporarily closed as the UAE’s Ministry of Health investigates potential product safety violations at the plant. The Qatar National Health Authority has recalled all of the company's products from pharmacies around the country. BMI views this as a positive indication of both the UAE and Qatar improving their pharmaceutical regulatory environment.
Customers who bought this item also bought
Qatar Pharmaceuticals and Healthcare Report Q2 2009
Travel and Tourism - Qatar
Executive Report on Strategies in Qatar
Qatar Oil and Gas Report Q4 2009
Qatar Islamic Insurance Company Qsc - Financial and Strategic Analysis Review
Qatar Commercial Banking Report Q4 2009
Qatar Insurance Report 2008
Qatar - Telecoms, Mobile & Broadband
UAE Pharmaceuticals and Healthcare Report Q1 2008
United Arab Emirates Pharmaceuticals and Healthcare Report Q4 2009
Qatar 2009 - Discover Qatar Companies
Qatar Islamic Insurance Company Qsc - Financial Services - Insurance - SWOT Report
|
|
|
|
