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United Arab Emirates Pharmaceuticals and Healthcare Report Q2 2009
Business Monitor International, April 2009, Pages: 106
The United Arab Emirates Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on the United Arab Emirates's pharmaceuticals and healthcare industry.
The United Arab Emirates (UAE) has retained its pole position in the Q209 Business Environment Rankings for the 17 key markets within the Middle East and Africa (MEA) region. Globally, the UAE is ranked eighteenth, and is thus comparable to some developed European markets. This high ranking illustrates its capacity to compete with mature markets in terms of the attractiveness of the business environment, especially given UAE’s forecast compound annual growth rate (CAGR) of 9.97% through to 2013. By the end of the forecast period, the market is expected to be valued at AED5.04bn (US$1.37bn) at consumer prices, increasing from AED3.42bn (US$0.85bn) in 2008. Unfavourable fluctuation in the exchange rate of the dirham against the euro already resulted in an increase in drug expenditure during late 2008, which is likely to result in the authorities looking to import cheaper generics and/or to boost local production.
Generally speaking, key drivers of overall market growth will remain the Emirates’ wealthy and urban population, strong preference for branded drugs, rising demand for chronic and long-term diseases treatment and continued investment in health infrastructure. Additionally, the opening of the first pharmacy in a grocery retail store in February 2009 by local pharmacy chain BinSina, on behalf of the global retailer Carrefour, should set the trend for future development of UAE’s over-the-counter (OTC) medicines market, which presently accounts for 17% of the overall market. Over the period 2009-13, OTCs are forcast to post a CAGR of 10.59%, to reach AED912mn (US$248mn) at consumer prices. Indeed, the opening of the hypermarket pharmacy indicates the Ministry of Health’s willingness to encourage improvements of the healthcare sector through innovative solutions.
The government is making concerted efforts to crack down on the trade of counterfeit medicines. Plans unveiled in February 2009 seek to boost the number of customs inspectors and portable drug detectors, especially in the super-busy port of Dubai. By June 2009, unregistered pharmaceutical and healthcare products – as the recent addition of well medical devices and nutritional supplements to the list - will not be permitted to enter or pass through the UAE. In a related development, Tawan Hospital became the first healthcare institution in the Emirates to launch a patient safety programme. The changes also complement the Federal Medical Liability Law, which stipulates that all health professionals – including complementary and alternative medicine (CAM) practitioners – must be insured against medical.
In a worrying development, in January 2009, the UAE dramatically altered laws concerning research and development to prevent human cloning, while also further regulating fertility treatments with regard to implantation and abortion. We caution that, while ethical concerns must be considered, the impact of this law may hinder the development of life sciences in the country, which now includes major global biotechnology players such as Amgen and Genzyne. On the other hand, the government is aiming to rectify the presently unnatural sex distribution, with the population consisting of more than twice as many males as females.
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