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Bahrain Pharmaceuticals & Healthcare Q3 2006Published by: Business Monitor International Published: Sep. 1, 2006 - 56 Pages Table of Contents
AbstractBahrain's drug market is relatively small by regional standards, worth only US$49.2mn in 2005, although, as forecast in BMI's recently released Bahrain Pharmaceuticals & Healthcare report, growth is expected to be strong in the coming years, with the market size expected to almost double by 2010. Solid economic growth and a rapidly expanding population are two macro factors that are helping to pull the market upwards. The healthcare system is undergoing rapid modernisation, with the government focusing on improving primary care, and recently announcing a scheme that will see all expatriate workers covered by private health insurance by 2013. This will reduce public health expenditure and is part of a government strategy to offload more of the burden of health spending to the private sector. Bahrain's recent Free Trade Agreement (FTA) with the US should also have a beneficial impact. As well as making US-produced drugs more available, the FTA has significantly tightened Bahrain's intellectual property laws. This in turn will encourage foreign investment in the market. The domestic manufacturing sector is small, comprising just four companies producing basic drugs. However, Bahrain Industrial Pharmaceutical (Bidapharm), currently a pharmaceuticals importer, is in the process of building a manufacturing plant, which will make it the country's fifth producer. BMI's adjusted Business Environment Rankings for the Middle East reveal that Bahrain is in 2nd place behind only the UAE. This is primarily due to forecasts of high market growth, coupled with the country's world class intellectual property (IP) regime. Bahrain's limited domestic manufacturing industry and lack of technological capabilities has also made the country an excellent investment opportunity for foreign drugmakers, although the outlook is tempered somewhat by the small overall market size. Key Benefits of ReportRely On Our Independent 5-Year Forecasts As A Benchmark to test other views - a key input for successful budgetary and strategic business planning. Target Business Opportunities & Risks through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments Exploit Latest Competitive Intelligence & Company SWOTS on your competitors and peers through company rankings by sales, market share and ownership structure - includes multinational and national companies. Get Full Details About This Report >> |
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