Iraq Pharmaceuticals and Healthcare Report Q4 2017
Iraq's demographic trends, as well as the high and underlying demand for health care, will support strong growth of pharmaceutical spending over the forecast period, based largely on volume drivers. Despite the slightly improved economic outlook, Iraq's operating environment will face myriad of challenges, including structural impediments in the near term, weighing on the health system development potential. Given limited local drug manufacturing capacity, drug imports will continue to cover most of the domestic demand.
Headline Expenditure Projections
Pharmaceuticals: IQD2.12trn (USD1.79bn) in 2016 to IQD2.22trn (USD1.88bn) in 2017; +4.9% in local currency and +4.8% in US dollar terms. Forecast in line with last quarter.
Healthcare: IQD13.39trn (USD11.33bn) in 2016 to IQD14.13trn (USD11.94bn) in 2017; +5.5% in local currency and +5.4% in US dollar terms. Forecast in line with last quarter.
As of July 2017, Iraq has one of the highest rates of Tuberculosis (TB) in the region, with over 15,000 people affected in the country annually, says a report by the Iraqi government and the United Nations.