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Qatar Pharmaceuticals and Healthcare Report Q1 2010
Business Monitor International, Dec 2009, Pages: 60
The Qatar Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Qatar's pharmaceuticals and healthcare industry.
In this updated Business Environment Rankings (BER) matrix for the 17 key pharmaceutical markets in the Middle East and Africa (MEA) region, Qatar remains ranked equal third. The country’s high Q110 placement is supported by its strong intellectual property (IP) environment, highly urbanised nature, and a preference for branded and imported products which has resulted in high per-capita spending on medicines and medical services. However, some risks to the future performance of the country’s pharmaceutical markets are present, in the shape of its small and predominantly young population, as well as the pending introduction of a health insurance scheme. The government may also be forced to take a less generous approach to reimbursement if oil revenues decline, especially as the recently-created Supreme Council of Health has the power to set prices for medical services and pharmaceuticals.
Nevertheless, the value of Qatar’s pharmaceutical market, estimated at QAR743mn (US$204mn) in 2008, should reach QAR1.40bn (US$385mn) in 2014, growing at a compound annual growth rate (CAGR) of 10.55% in both local currency and US dollar terms, as the former is pegged to the latter. Unlike in many other global markets, the current economic downturn is not expected to result in a drastic slowdown of the value growth of pharmaceutical expenditure in Qatar, which is buffered by oil revenues. Over the course of 2009, spending on medicines is projected to increase by 14.22% year-on-year (y-o-y). However, we caution that the longer 10-year forecast for Qatar expects a deceleration of market growth, with values posting a CAGR of 7.94% between 2009 and 2019, as cost-containment pressures increase the need to introduce a more rational model for the spending of public funds.
On the other hand, the changing epidemiological profile of the country will continue to require more frequent usage of longer-term and chronic diseases medicines, providing one of the key growth drivers over the coming years. In fact, according to a study by the Centre for Arab Genomic Studies reported in September 2009, Arabs have among the highest prevalence of genetic disorders on a global scale. The research identified around 200 such conditions as being prevalent among Arabs in the Gulf Co-operation Council (GCC) states alone, out of just over 900 genetic disorders reported among Arabs in total.
Around the same time, the authorities reported that a new state-of-the-art genetics centre is to be established in Qatar, as part of the joint programme between local Hamad Medical Corporation (HMC) and Germany’s Heidelberg University Children’s Hospital. Additionally, Qatar’s Weill Cornell Medical College started equipping six new laboratories, which will be used for research into diseases prevalent in the region, including cardiovascular and respiratory diseases, diabetes, obesity and neurogenetic abnormalities. The laboratories have received US$19mn funding from the Qatar Foundation’s National Priorities Research Programme, as the government continues to take a proactive stance towards public health.
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