Market Report, "Oman Pharmaceuticals & Healthcare Report Q3 2013", Published

Boston, MA -- (SBWire) -- 07/22/2013 --Although one of the smallest healthcare markets in the Gulf Cooperation Council, Oman boasts a 10-year compound annual growth rate of 9% in US dollar terms, a figure in line with large regional players Saudi Arabia and the UAE. The reasons behind this are two-fold. Public and foreign private investment in the planning and construction of two US$1bn medical cities will see Oman become a regional medical tourism hub in the long term. Meanwhile, government policies will see the healthcare financial burden gradually shift towards the more lucrative private healthcare market with continuing foreign direct investment in the sector.

Headline Expenditure Projections

- Pharmaceuticals: OMR166mn (US$433mn) in 2012 to OMR181mn (US$477mn) in 2013; 9.3% in local currency terms and +10.7% in US dollar terms. Forecast broadly in line with Q213.
- Healthcare: OMR709mn (US$1.84bn) in 2012 to OMR770mn (US$2.03bn) in 2012; +8.6% in local currency terms and +10.0 in US dollar terms. Forecast revised slightly downwards due to modifications to historical figures.

View Full Report Details and Table of Contents

Risk/Reward Rating: Oman's Risk/Reward Rating score, which provides an indication of the relative attractiveness of its pharmaceutical market for investment, is calculated at 47 out of 100. This positions the country at 11th place in the Middle East and Africa matrix. Oman has limited longer-term commercial potential on account of its small population and the fact that the government is responsible for the bulk of healthcare costs, which will increase the need for cost containment in the coming years. On a positive note, the country's operating risks are relatively low. Globally, Oman is 63rd out of 96 markets surveyed.

Key Trends And Developments

April 2013

Negotiations between the Omani Ministry of Health and local distributors and retailers were reported to be under way to re-price supply chain mark-ups on imported medicines, according to the Middle East And Africa Financial Network. This is part of the government's 2013 drug policy to contain costs in the pharmaceutical sector. If implemented, it will have a negative impact on the profit margins of distributors and pharmacies and seemingly not effect multinationals' revenues.

March 2013

Indian healthcare firm Nova Speciality Surgery will start construction of a world-class surgical centre to the value of US$10mn in Al Ghubra, which is expected to be completed in early 2014, according to the Observer. The company expanded into the Middle East and launched its first surgical facility in Oman a year ago, with a positive response to the surgery prompting further private investment in the country.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Healthcare research reports at Fast Market Research

You may also be interested in these related reports:

- Nigeria Pharmaceuticals & Healthcare Report Q3 2013
- Croatia Pharmaceuticals & Healthcare Report Q3 2013
- Australia Pharmaceuticals & Healthcare Report Q3 2013
- Mexico Pharmaceuticals & Healthcare Report Q3 2013
- Kenya Pharmaceuticals & Healthcare Report Q3 2013
- Pakistan Pharmaceuticals & Healthcare Report Q3 2013
- Algeria Pharmaceuticals & Healthcare Report Q3 2013
- Argentina Pharmaceuticals & Healthcare Report Q3 2013
- Hong Kong Pharmaceuticals & Healthcare Report Q3 2013
- Central America Pharmaceuticals & Healthcare Report Q3 2013