United Arab Emirates Pharmaceuticals and Healthcare Report Q2 2012
Business Monitor International, April 2012, Pages: 107
Business Monitor International's United Arab Emirates 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 United Arab Emirates's pharmaceuticals and healthcare industry.
BMI View: New population data for 2011 show the size of the expatriate population in the United Arab Emirates (UAE) has been underappreciated. Population growth has fed into a rise in the World Healthcare Organization (WHO)’s healthcare expenditure figures, which is a boon for any company that has invested in the UAE's healthcare sector. The increase has primarily been as a result of more government expenditure on healthcare. Nevertheless, we still expect the country’s pharmaceutical environment to become increasingly challenging, in light of price cuts.
Headline Expenditure Projections
- Pharmaceuticals: AED5.56bn (US$1.51bn) in 2011 to AED5.65bn (US$1.54bn) in 2012; +1.6% in both local currency terms and US dollar terms. Forecast broadly unchanged from Q112.
- Healthcare: AED45.27bn (US$12.33bn) in 2011 to AED50.83bn (US$13.85bn) in 2012; +12.3% in local currency terms and +12.4% in US dollar terms. Forecast significantly increased from Q112 due to inclusion of new historical data.
- Medical devices: AED1.87bn (US$508mn) in 2011 to AED2.05bn (US$558mn) in 2012; +9.9% in local currency terms and +10.0% in US dollar terms. Forecast broadly unchanged from Q112.
Business Environment Rating:
The pharmaceutical rating for the UAE in Q212 increased by 2.77% on a quarter-on-quarter (q-o-q) basis, with the country now ranked second within the Middle East and Africa (MEA) region (up from fourth previously). The change is based on new population and healthcare spending data, which is seen as providing more commercial opportunities for companies in the industry and is reflected in an increased score for the industry rewards variable.
Key Trends & Developments
- In January 2012, UAE-based pharmaceutical company Elis Pharmaceuticals acquired the Middle East licensing rights for US pharmaceutical company Apricus Biosciences' drug MycoVa. Elis will be responsible for the marketing of the nail fungal infection (onychomycosis) treatment in Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, the UAE and Yemen. Onychomycosis affects approximately 10% of the global population and can cause serious pain and disability.
- The authorities continue to be proactive in terms of public health improvement initiatives. For example, in January 2012, the Dubai Health Authority (DHA) implemented a standardised policy to improve immunisation services – especially childhood vaccination – at all hospitals and health clinics. This is the country’s first standardised immunisation policy.
- The Dubai Health Authority (DHA) plans to establish two new hospitals to meet rising demand for healthcare services in emirate, according to DHA director general Qadhi Saeed al- Murooshid. This will raise the number of hospitals in Dubai to over 20. Murooshid told Gulf News that demand for healthcare services is growing because of increased life expectancy and exponential growth in the population of the Gulf region. He said private hospitals provide 47% of the healthcare services in Dubai and the DHA will allow the private sector to take on an even bigger role in the medical sector as well as in the medical tourism industry.
BMI Economic View:
Our core view remains that, while the UAE’s economy is likely to slow in 2012 amidst the broader global downturn, a more pronounced contraction is as yet unlikely. Latest oil production figures indicate that growth in the hydrocarbon economy is still above average and will likely continue outperforming, with production having ticked up by a multi-year high of 11.2% year-on-year (yo- y) in December 2011. As a result we are retaining our forecasts, which see real GDP expanding 3.0% in 2012, down from an estimated 3.3% in 2011.
BMI Political View:
We expect trade and diplomatic ties between the UAE and China to deepen over the coming years. The structural trade imbalance between the two countries will gradually narrow, as China imports more energy from the Gulf. These stronger ties may also see China improve its pharmaceutical supplies to the UAE, although product quality will remain key.
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 Risk/Reward Ratings
Table: Middle East And Africa – Pharmaceutical Risk/Reward Ratings Q212
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
UAE Healthcare Demand Split By Therapeutic Area
Non-Communicable Diseases
Communicable Disease
Healthcare Sector
Healthcare Sector Reforms
Healthcare Staff
Hospital Sector Developments
Health Insurance
Healthcare Insurance Sector Developments
Medical Tourism
Research and Development
Clinical Trials
Medical Devices
Recent Developments in the Medical Devices Market
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales Indicators 2008-2016
Healthcare Market Forecast
Table: Healthcare Expenditure Indicators 2008-2016
Table: Healthcare Governmental Indicators 2008-2016
Table: Healthcare Private Indicators 2008-2016
Key Growth Factors – Macroeconomic
United Arab Emirates - Economic Activity
Prescription Drug Market Forecast
Table: UAE Healthcare Demand Split By Therapeutic Area
Table: Prescription Drug Sales Indicators 2008-2016
Patented Drug Market Forecast
Table: Patented Drug Market Indicators 2008-2016
Generic Drug Market Forecast
Table: Generic Drug Sales Indicators 2008-2016
OTC Medicine Market Forecast
Table: OTC Medicine Sales Indicators 2008-2016
Pharmaceutical Trade Forecast
Table: Exports and Imports Indicators 2008-2016
Medical Device Market Forecast
Table: Medical Devices Sales Indicators 2008-2016
Other Healthcare Data
Key Risks To BMI’s Forecast Scenario
Competitive Landscape
Pharmaceutical Industry
Abu Dhabi's Top Five Best Selling Drugs In Value Terms By Therapeutic Area
Domestic Pharmaceutical Sector
Foreign Pharmaceutical Sector
Recent Company Developments
Pharmaceutical Distribution and Retail
Recent Developments in Pharmaceutical Distribution and Retail
Company Profiles
Local Companies
Gulf Pharmaceutical Industries (Julphar)
Globalpharma
Modern Pharmaceutical Company (MPC)
Neopharma
Medpharma
Foreign Companies
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
- 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
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