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Jordan Pharmaceuticals and Healthcare Report Q2 2008Published by: Business Monitor International Published: Apr. 28, 2008 - 62 Pages Table of Contents
AbstractJordan’s pharmaceutical market is expected to grow at 10% year-on-year (y-o-y) over the forecast period(2008-2012). It should reach around US$540mn by 2012, up from an estimated US$336mn in 2007.Strong population growth, which should exceed 2.8% y-o-y, will drive market expansion, as will strongGDP growth, which is expected to come in at around 5% in real terms for the forecast period. Over-the-counter (OTC) drug market growth should beat that of the prescription drug market due to strictdispensing regulations surrounding prescription drugs, which serve to encourage self medication.However, in value terms, this trend should be offset to some extent by rising demand for more expensivepatented drugs as more citizens look for-high tech treatments in a market that was traditionally dominatedby basic medications. In BMI’s updated Business Environment Rankings, Jordan has moved up to equal sixth position, fromequal eighth in the previous quarter. The improved position is largely a result of a positive reassessmentof the size of the pharmaceutical market. Jordan already posted a strong score in the market risks categorydue to its strong regulatory framework. This now seems to be having the more tangible effect of boostingthe market by reducing the prevalence of counterfeit drugs, which have made less of a dent in thelegitimate drug market in recent years. Jordan’s pharmaceutical industry is now dominated by Hikma. In December 2007, the multinationalgeneric drugmaker cemented its position as Jordan’s largest pharmaceutical company with the acquisitionof Arab Pharmaceutical Manufacturing (APM) - which was third in the country by sales. Thecombination is likely to worry Dar Al Dawa, which has the second-largest share of Jordan’s market -now less than half of Hikma’s market share. However, Jordan’s small market, and growing regional tiesthrough the Arab world mean domestic players have always looked for revenues across the Middle East.Despite Jordan not having Gulf Cooperation Council (GCC) membership, its friendly relations with theUS and Middle Eastern neighbours have served to make it an attractive export base. Asian genericsmakers in particular seem to be taking advantage of Jordan as a channel into the Arab world. One ofBangladesh’s top five pharmaceutical exporters, Beximco Pharmaceuticals began shipments to Jordan inOctober 2007. Get Full Details About This Report >> |
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