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Lebanon Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 16, 2008 - 56 Pages Table of Contents
AbstractLebanon’s drug market was estimated to be worth LBP712bn (US$472mn) in 2007. BMI forecasts slowgrowth, averaging 3.5% year-on-year over the forecast period, with the market reaching just LBP845bn(US$560mn) by the end of 2012. Per capita drug expenditure is relatively high for the country’s level ofeconomic development. In 2007, per capita expenditure on prescription and over-the-counter (OTC)medicines came to an estimated US$132 - on a par with richer nations in the Middle East. Indeed,relative to GDP, Lebanon continues to devote a high proportion of GDP to pharmaceuticals, largely as aconsequence of strong demand for more expensive, patented drugs.Political instability is likely to continue to hold back development in a healthcare system that has beenseverely damaged by conflict. Indeed, only 8% of the population benefit from government-run healthcare.Most patients access healthcare through hospitals, supporting prescription drug sales, which wereestimated to account for 90% of the drug market in 2007. Meanwhile, generic substitution is likely to become an increasing trend over the forecast period, whichwill place further limits on drug market growth. BMI expects that, by value, generics will increase froman estimated 19.9% of the market in 2007 to reach 21.6% of the market by 2012. However, most of thesedrugs are likely to arrive as imports, as quality concerns continue to affect the domestic pharmaceuticalmanufacturing industry. In BMI’s updated Business Environment Ratings for Q308, Lebanon is placed 10th out of 13 Middle Eastand Africa (MEA) markets surveyed. Its small, pharmaceutical market, which is forecast to growrelatively slowly over the next five years, offers limited attraction to drugmakers. Having said this, thecountry’s structure is considered conductive to pharmaceutical market growth thanks to a fast-growingand highly urbanised population, which boosts access to medicine and should simplify the supply chain. Get Full Details About This Report >> |
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