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United Arab Emirates Pharmaceuticals and Healthcare Report Q4 2011
Description:
BMI View: In 2010, the UAE pharmaceutical market reached a value of AED5.10bn (US$1.39bn). One of the key drivers of growth for the UAE pharmaceutical market is increased health expenditure. BMI expects that most of the value development will be realised in the prescription sector, boosted by rising population numbers and a changing diseases profile. In particular, the country is tackling an obesity and diabetes epidemic, which will also require longterm treatment of related conditions, such as increased blood pressure. The recently established single market of the six GCC states (Saudi Arabia, Oman, Qatar, Bahrain, the UAE and Kuwait) will also facilitate the placement of foreign products in the region. Regional harmonisation should establish even stronger regional trade links and bring regulations closer in line with international norms, thereby boosting market development. Most major researchbased firms have a long-standing presence in the UAE, either via contract manufacturing or local distribution arrangements. The UAE also has a thriving biotech and domestic pharmaceutical industry, which the government is keen to boost.
Headline Expenditure Projections
- Pharmaceuticals: AED5.10bn (US$1.39bn) in 2010 to AED5.45bn (US$1.48bn) in 2011; +6.8% in local currency terms and +6.8% in US dollar terms. Forecast down moderately from Q311 due to macroeconomic factors.
- Healthcare: AED26.42bn (US$7.19bn) in 2010 to AED28.93bn (US$7.87bn) in 2011; +9.5% in local currency terms and +9.5% in US dollar terms. Forecast down slightly from Q311.
- Medical devices: AED1.71bn (US$468mn) in 2010 to AED1.86bn (US$508mn) in 2011; +8.6% in local currency terms and +8.6% in US dollar terms. Forecast down marginally from Q311 due to analyst modification.
Business Environment Rating: The pharmaceutical rating for the UAE in Q411 is 62 out of 100, which is well above the average of 48.3 for the region. The country continues to occupy pole position in BMI’s Q411 Business Environment Ratings for the Middle East and Africa region, with an unchanged Industry Rewards score of 57. Factors such as the population’s wealth and the rise in the incidence of lifestyle-related diseases in the Middle East are making pharmaceutical markets such as the UAE an attractive investment proposition.
Key Trends & Developments
- The Ministry of Health has announced a sharp reduction in the cost of 565 drugs aimed primarily at treating chronic diseases. The reduction in prices will range from between 5% and 60% for medicines used in the treatment of lifestyle diseases such as diabetes, obesity and hypertension. According to Dr. Hanif Hassan, the UAE’s Minister of Health, the price of 67 drugs will be reduced with immediate effect as of the 1 July 2011; followed by a reduction in cost of the remaining 498 drugs, which will come into effect as of the 1 September 2011. Following these reductions, it is thought that the cost of medicines in the UAE will be the lowest among countries in the region.
- In June 2011, the Al Ain Hospital announced the introduction of the American Society of Health System Pharmacists (ASHP) therapeutic and pharmacological classification within the hospital. The new ASHP system, which has replaced manual patient profiling, provides healthcare professionals with valuable information about patient profiles and pharmacy activities, as well as an accurate medication history of the patient. The Al Ain hospital has also added two new pharmacies to its facilities, one of which is specifically designed for outpatients at its West Polyclinic premises, while a 24-hour pharmacy at the site of the main hospital has been launched under the revamped operations.
- In the following month, HAAD, the regulatory body that governs the healthcare sector in Abu Dhabi, announced the launch of the healthcare sector Environment, Health and Safety Management System (EHSMS) across all 33 hospitals in the Emirate of Abu Dhabi. The new system aims to reduce and mitigate the potential risks that might affect the health and safety of hospital staff, patients, contractors and visitors, as well as guard against potential environmental hazards and risks.
- Meanwhile, data released by HAAD in August 2011 has found that more than 8,000 Emiratis across Abu Dhabi have chosen to seek medical treatment abroad since 2008, with countries such as Germany being the first destination of choice, followed by the UK, the USA, Thailand, and Singapore. The HAAD findings also indicate that the most common medical condition for Emiratis choosing to travel abroad is a malignant tumour, followed by pediatric heart surgery, spinal surgery, orthopedic surgery, rehabilitation therapy and heart disease.
- A report published by the Dubai Chamber of Commerce and Industry in August 2011 has revealed that the export of medicines have quadrupled from AED100mn (US$27.2mn) in 2003 to AED400mn (US$108.9mn) in 2010. Conversely, imports of pharmaceutical products have also risen from AED800mn (US$217.8mn) to AED3bn (US$816.7mn) over the corresponding period. Industry experts believe that there is potential for further growth within the UAE’s pharmaceutical sector in the light of the changing lifestyle dynamics in the region, which is now based on an increasingly Westernised disease profile with factors such as obesity prevalent among the population.
- In other developments, the Salalah Medical Device Manufacturing Company (SMDM) announced that it is set to expand its business operations by exporting medical devices to 27 countries in Europe. As of January 2011, SMDM began exporting its medical guidewire devices to markets in the USA and the EU under the Certificate of Conformity Europe (CE Mark). The mark is endorsed by four member countries of the European Free Trade Association, and indicates that a product is in compliance with EU Product Safety Directives.
BMI Economic View: Favourable macroeconomic factors such as increasing fiscal expenditure and real GDP growth values are expected to facilitate the expansion of the UAE’s pharmaceutical market. BMI have accordingly upgraded its 2011 real GDP growth forecast for the UAE to 3.3% from 3.0% previously. Ongoing turmoil in Bahrain in particular will likely prove positive for Dubai, which should help boost the Emirate's flagging tourism industry in particular in the near term. That said, significant obstacles still stand in the way of a more pronounced recovery, including weak credit conditions and Dubai's onerous debt repayment schedule this year. We forecast real GDP to expand by an average 3.7% between 2012-2015.
BMI Political View: The government of the UAE is committed to expanding access to medical services in general and pharmaceuticals in particular. The country boasts strong and high-quality healthcare provision, with the government promising further investment in such resources. To this end, the UAE is building multiple healthcare facilities, expecting demand for healthcare to more than double by 2025.
Headline Expenditure Projections
- Pharmaceuticals: AED5.10bn (US$1.39bn) in 2010 to AED5.45bn (US$1.48bn) in 2011; +6.8% in local currency terms and +6.8% in US dollar terms. Forecast down moderately from Q311 due to macroeconomic factors.
- Healthcare: AED26.42bn (US$7.19bn) in 2010 to AED28.93bn (US$7.87bn) in 2011; +9.5% in local currency terms and +9.5% in US dollar terms. Forecast down slightly from Q311.
- Medical devices: AED1.71bn (US$468mn) in 2010 to AED1.86bn (US$508mn) in 2011; +8.6% in local currency terms and +8.6% in US dollar terms. Forecast down marginally from Q311 due to analyst modification.
Business Environment Rating: The pharmaceutical rating for the UAE in Q411 is 62 out of 100, which is well above the average of 48.3 for the region. The country continues to occupy pole position in BMI’s Q411 Business Environment Ratings for the Middle East and Africa region, with an unchanged Industry Rewards score of 57. Factors such as the population’s wealth and the rise in the incidence of lifestyle-related diseases in the Middle East are making pharmaceutical markets such as the UAE an attractive investment proposition.
Key Trends & Developments
- The Ministry of Health has announced a sharp reduction in the cost of 565 drugs aimed primarily at treating chronic diseases. The reduction in prices will range from between 5% and 60% for medicines used in the treatment of lifestyle diseases such as diabetes, obesity and hypertension. According to Dr. Hanif Hassan, the UAE’s Minister of Health, the price of 67 drugs will be reduced with immediate effect as of the 1 July 2011; followed by a reduction in cost of the remaining 498 drugs, which will come into effect as of the 1 September 2011. Following these reductions, it is thought that the cost of medicines in the UAE will be the lowest among countries in the region.
- In June 2011, the Al Ain Hospital announced the introduction of the American Society of Health System Pharmacists (ASHP) therapeutic and pharmacological classification within the hospital. The new ASHP system, which has replaced manual patient profiling, provides healthcare professionals with valuable information about patient profiles and pharmacy activities, as well as an accurate medication history of the patient. The Al Ain hospital has also added two new pharmacies to its facilities, one of which is specifically designed for outpatients at its West Polyclinic premises, while a 24-hour pharmacy at the site of the main hospital has been launched under the revamped operations.
- In the following month, HAAD, the regulatory body that governs the healthcare sector in Abu Dhabi, announced the launch of the healthcare sector Environment, Health and Safety Management System (EHSMS) across all 33 hospitals in the Emirate of Abu Dhabi. The new system aims to reduce and mitigate the potential risks that might affect the health and safety of hospital staff, patients, contractors and visitors, as well as guard against potential environmental hazards and risks.
- Meanwhile, data released by HAAD in August 2011 has found that more than 8,000 Emiratis across Abu Dhabi have chosen to seek medical treatment abroad since 2008, with countries such as Germany being the first destination of choice, followed by the UK, the USA, Thailand, and Singapore. The HAAD findings also indicate that the most common medical condition for Emiratis choosing to travel abroad is a malignant tumour, followed by pediatric heart surgery, spinal surgery, orthopedic surgery, rehabilitation therapy and heart disease.
- A report published by the Dubai Chamber of Commerce and Industry in August 2011 has revealed that the export of medicines have quadrupled from AED100mn (US$27.2mn) in 2003 to AED400mn (US$108.9mn) in 2010. Conversely, imports of pharmaceutical products have also risen from AED800mn (US$217.8mn) to AED3bn (US$816.7mn) over the corresponding period. Industry experts believe that there is potential for further growth within the UAE’s pharmaceutical sector in the light of the changing lifestyle dynamics in the region, which is now based on an increasingly Westernised disease profile with factors such as obesity prevalent among the population.
- In other developments, the Salalah Medical Device Manufacturing Company (SMDM) announced that it is set to expand its business operations by exporting medical devices to 27 countries in Europe. As of January 2011, SMDM began exporting its medical guidewire devices to markets in the USA and the EU under the Certificate of Conformity Europe (CE Mark). The mark is endorsed by four member countries of the European Free Trade Association, and indicates that a product is in compliance with EU Product Safety Directives.
BMI Economic View: Favourable macroeconomic factors such as increasing fiscal expenditure and real GDP growth values are expected to facilitate the expansion of the UAE’s pharmaceutical market. BMI have accordingly upgraded its 2011 real GDP growth forecast for the UAE to 3.3% from 3.0% previously. Ongoing turmoil in Bahrain in particular will likely prove positive for Dubai, which should help boost the Emirate's flagging tourism industry in particular in the near term. That said, significant obstacles still stand in the way of a more pronounced recovery, including weak credit conditions and Dubai's onerous debt repayment schedule this year. We forecast real GDP to expand by an average 3.7% between 2012-2015.
BMI Political View: The government of the UAE is committed to expanding access to medical services in general and pharmaceuticals in particular. The country boasts strong and high-quality healthcare provision, with the government promising further investment in such resources. To this end, the UAE is building multiple healthcare facilities, expecting demand for healthcare to more than double by 2025.
Contents:
Executive Summary
SWOT Analysis
United Arab Emirates Pharmaceuticals And Healthcare Industry SWOT
United Arab Emirates Political SWOT
United Arab Emirates Economic SWOT
United Arab Emirates Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Middle East And Africa Pharmaceutical Business Environment Ratings for Q411
Rewards
Risks
UAE – Market Summary
Regulatory Environment
Pharmacovigilance
Recent Regulatory Developments
Pharmaceutical Advertising
Intellectual Property Regime
Counterfeit Medicines
Pricing And Reimbursement Regime
Recent Pricing and Reimbursement Developments
Regional Harmonisation
Free Trade Agreements
Industry Trends and Developments
Epidemiology
Recent Public Health Developments
Non-Communicable Disease
Communicable Disease
Healthcare Sector
Healthcare Staff
Hospital Sector Developments
Healthcare Sector Reforms
Recent Healthcare Sector Developments
Healthcare Sector Advertising
Health Insurance
Medical Tourism
Research and Development
DuBiotech
Medical Devices
Recent Developments in the Medical Devices Market
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales Indicators 2007-2015
Key Growth Factors – Industry
Table: Healthcare Expenditure Indicators 2007-2015
Table: Government Healthcare Expenditure Indicators 2007-2015
Table: Private Healthcare Expenditure Indicators 2007-2015
Key Growth Factors – Macroeconomic
Table: United Arab Emirates - Economic Activity
Prescription Drug Market Forecast
Table: Prescription Drug Sales Indicators 2007-2015
Patented Drug Market Forecast
Table: Patented Drug Market Indicators 2007-2015
Generic Drug Market Forecast
Table: Generic Drug Sales Indicators 2007-2015
OTC Medicine Market Forecast
Table: OTC Medicine Sales Indicators 2007-2015
Medical Device Market Forecast
Table: Medical Devices Sales Indicators 2007-2015
Pharmaceutical Trade Forecast
Table: Exports and Imports Indicators 2007-2015
Other Healthcare Forecasts
Key Risks To BMI’s Forecast Scenario
Competitive Landscape
Pharmaceutical Industry
Table: United Arab Emirates (UAE) – Top Five Multinational Pharmaceutical Companies (2010)
Domestic Pharmaceutical Sector
Foreign Pharmaceutical Sector
Recent Company Developments
Pharmaceutical Distribution and Retail
Recent Developments in Pharmaceutical Distribution and Retail
Company Profiles
Gulf Pharmaceutical Industries (Julphar)
Globalpharma
Modern Pharmaceutical Company (MPC)
Neopharma
Medpharma
GlaxoSmithKline (GSK)
Pfizer
Novartis
Johnson & Johnson (J&J)
Sanofi-Aventis
Abbott Laboratories
Merck & Co
Country Snapshot: UAE Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2000-2004
Table: Consumer Expenditure, 2000-2012 (US$)
Glossary
BMI Methodology
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceuticals Business Environment Ratings
Risk/Reward Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
SWOT Analysis
United Arab Emirates Pharmaceuticals And Healthcare Industry SWOT
United Arab Emirates Political SWOT
United Arab Emirates Economic SWOT
United Arab Emirates Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Middle East And Africa Pharmaceutical Business Environment Ratings for Q411
Rewards
Risks
UAE – Market Summary
Regulatory Environment
Pharmacovigilance
Recent Regulatory Developments
Pharmaceutical Advertising
Intellectual Property Regime
Counterfeit Medicines
Pricing And Reimbursement Regime
Recent Pricing and Reimbursement Developments
Regional Harmonisation
Free Trade Agreements
Industry Trends and Developments
Epidemiology
Recent Public Health Developments
Non-Communicable Disease
Communicable Disease
Healthcare Sector
Healthcare Staff
Hospital Sector Developments
Healthcare Sector Reforms
Recent Healthcare Sector Developments
Healthcare Sector Advertising
Health Insurance
Medical Tourism
Research and Development
DuBiotech
Medical Devices
Recent Developments in the Medical Devices Market
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales Indicators 2007-2015
Key Growth Factors – Industry
Table: Healthcare Expenditure Indicators 2007-2015
Table: Government Healthcare Expenditure Indicators 2007-2015
Table: Private Healthcare Expenditure Indicators 2007-2015
Key Growth Factors – Macroeconomic
Table: United Arab Emirates - Economic Activity
Prescription Drug Market Forecast
Table: Prescription Drug Sales Indicators 2007-2015
Patented Drug Market Forecast
Table: Patented Drug Market Indicators 2007-2015
Generic Drug Market Forecast
Table: Generic Drug Sales Indicators 2007-2015
OTC Medicine Market Forecast
Table: OTC Medicine Sales Indicators 2007-2015
Medical Device Market Forecast
Table: Medical Devices Sales Indicators 2007-2015
Pharmaceutical Trade Forecast
Table: Exports and Imports Indicators 2007-2015
Other Healthcare Forecasts
Key Risks To BMI’s Forecast Scenario
Competitive Landscape
Pharmaceutical Industry
Table: United Arab Emirates (UAE) – Top Five Multinational Pharmaceutical Companies (2010)
Domestic Pharmaceutical Sector
Foreign Pharmaceutical Sector
Recent Company Developments
Pharmaceutical Distribution and Retail
Recent Developments in Pharmaceutical Distribution and Retail
Company Profiles
Gulf Pharmaceutical Industries (Julphar)
Globalpharma
Modern Pharmaceutical Company (MPC)
Neopharma
Medpharma
GlaxoSmithKline (GSK)
Pfizer
Novartis
Johnson & Johnson (J&J)
Sanofi-Aventis
Abbott Laboratories
Merck & Co
Country Snapshot: UAE Demographic Data
Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2000-2004
Table: Consumer Expenditure, 2000-2012 (US$)
Glossary
BMI Methodology
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceuticals Business Environment Ratings
Risk/Reward Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
Companies Mentioned
- Gulf Pharmaceutical Industries (Julphar)
- Globalpharma
- Modern Pharmaceutical Company (MPC)
- Neopharma
- Medpharma
- GlaxoSmithKline (GSK)
- Pfizer
- Novartis
- Johnson & Johnson (J&J)
- Sanofi-Aventis
- Abbott Laboratories
- Merck & Co
- Globalpharma
- Modern Pharmaceutical Company (MPC)
- Neopharma
- Medpharma
- GlaxoSmithKline (GSK)
- Pfizer
- Novartis
- Johnson & Johnson (J&J)
- Sanofi-Aventis
- Abbott Laboratories
- Merck & Co
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