|
|
United Arab Emirates Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 15, 2008 - 89 Pages Table of Contents
AbstractThe UAE has once again been judged the most attractive market in the Middle East and Africa (MEA)region, retaining its pole position in BMI’s latest Business Environment Ranking table. While not beingthe largest in size, the market offers plenty of opportunities for growth. Key draws include increasingpublic and private wealth fuelled by the oil boom, strong and strengthening healthcare infrastructure,approvals of more medicines, a friendly regulatory environment, the absence of significant localcompetitors, establishment of comprehensive health insurance and the formation of a common market ofthe six Gulf Co-operation Council (GCC) states.The above factors have clearly been recognised by foreign companies, with the world’s largestpharmaceutical manufacturer, Pfizer, being the latest corporation to choose the UAE as its new regionalmedical and marketing headquarters, following the footsteps of US-based biotechnology giants Amgenand Genzyme. Similarly, in January 2007, Dabur International, a wholly-owned subsidiary of DaburIndia, indicated its intention to create a manufacturing facility in the UAE, which will originally producepersonal care products for the West Asian region. Finally, in February 2008, India's IntasBiopharmaceuticals (IBPL) stated its intention to initially planning to launch three products to treatcertain cancers and their side effects, penetrating the single GCC common market.The rising regional demand for medicine is also benefitting local players. The UAE's Globalpharma isbeginning to live up to its name following the announcement that it has won good manufacturing practice(GMP) certification from South Africa's Medicines Control Council (MCC), which brings the company astep closer to achieving the approval by the US and the European Union (EU) authorities.In the meantime, the UAE’s changing insurance landscape continues to pose challenges forpharmaceutical manufacturers. While the roll-out of compulsory private insurance for expatriate workerspromises to increase the consumption of medicines, foreign insurance companies operating in the MiddleEast may find their market is limited to kafirs (unbelievers), if they fail to adapt their products to becompliant with the beliefs of Islam. Nevertheless, private insurers continue to look for a foothold in theUAE health insurance market, with Goodhealth Worldwide becoming the latest company to register inthe country. In the public insurance sector, the introduction of new insurance programmes by Abu Dhabi and Dubai,the two largest emirates within the UAE, threatens to limit the private health insurance market toexpatriates, as the authorities provide free coverage for all citizens. BMI is also concerned that the fivesmaller emirates in the UAE are feeling increasingly left behind by the growing autonomy of Dubai andAbu Dhabi. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||