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Bahrain Pharmaceuticals and Healthcare Report Q4 2010
Business Monitor International, Sep 2010, Pages: 86
The Bahrain 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 Bahrain's pharmaceuticals and healthcare industry.
In BMI’s Q410 Business Environment Ratings for the 19 countries of the Middle East and Africa region (MEA) region, we find Bahrain moved down one place to occupy fifth position. This adjustment now sees Bahrain placed below Saudi Arabia and above Israel. Bahrain’s pharmaceutical rating is 52.6, which is considerably above the average of 45.4 for the region. Although the potential returns from the market are constrained by the island’s population of under 1mn, the low-risk economic and political climate and strong pharmaceutical-specific regulatory framework mean that Bahrain is one of the region’s most attractive markets in terms of the ‘risks to realisation of returns’ category.
In 2009, Bahrain’s pharmaceutical market was worth just BHD43mn (US$112mn), but this is expected to reach BHD55mn (US$146mn) in 2014. However, BMI expects health spending in Bahrain to increase at a far faster rate, expanding from BHD206mn (US$541mn) in 2009 to BHD486mn (US$1.28bn) by 2014, representing a US dollar compound annual growth rate (CAGR) of 18.8%
As part of efforts to increase public awareness about the prevalence of swine flu, the Ministry of Health launched a website as part of its official e-page. Health Minister Dr. Faisal Al Hamer has stipulated that the http:/H1N1.moh.gov.bh website provide accurate medical information about the disease. The website is also designed to include H1N1 hotlines updates, as well as local, regional and international news and statistics. In addition, the website carries information on pathological symptoms, diagnosis, prevention, and treatment.
In other developments, Bahrain’s Prime Minister, Sheikh Khalifa bin Salman Al Khalifa, officially launched one of the country’s largest healthcare projects which aims to turn Bahrain into a health oasis ‘unique to the region’. The multi-billion dollar Royal College of Surgeons in Ireland (RCSI) Health Oasis facility is to be built on the campus of the Medical University of Bahrain, which is located in the northern town of Busaiteen. The healthcare project will also feature the Oasis Private Hospital, along with other medical centres, a five-star resort and four-star hotel, spas, a wellness centre, a promenade of shops and waterfront cafes, serviced apartments, sports facilities and many other amenities.
Elsewhere, the Bahrain government is to investigate the possibility of establishing a Stem Cell Centre to treat patients with diabetes. A team of experts from Hamburg, Germany, will arrive in Manama to conduct an initial study on the country’s needs, as well as suggest ways of setting up the facility. The experts, who are from a company specialising in stem cell research, are to hold discussions with officials at the Ministry of Health, as well as other stakeholders and doctors from the Salmaniya Medical Complex (SMC), who manage and treat patients with diabetes. Discussions will also be held with the Minister of Health, Dr. Al Hamer, during which several decisions are expected to be taken.
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