New Market Report: Lebanon Pharmaceuticals & Healthcare Report Q3 2013

Boston, MA -- (SBWire) -- 07/23/2013 --Although Lebanon's pharmaceutical market will remain largely valued by patented medicines consumption, we expect a swifter uptake in generic medicines over the 2012-2022 period. However, this generic drug uptake is jeopardised by the ongoing Syrian civil war. Syria's civil unrest will continue to hinder pharmaceutical trade relations between Lebanon's import-dependent medicines market and key drugmakers in Israel and Jordan, namely Teva Pharmaceuticals and Hikma Pharmaceuticals. Rising Lebanese political and economic instability, will also negatively impact consumption of locally produced and imported medicines.

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Headline Expenditure Projections

- Pharmaceuticals: LBP1,956bn (US$1.30bn) in 2012 to LBP2,038bn (US$1.36bn) in 2013; +4.2% in local currency and US dollar terms. Forecast revised downwards due to modifications to historical figures.
- Healthcare: LBP4,377bn (US$2.91bn) in 2012 to LBP4,692bn (US$3.12bn) in 2013; +7.2% in local currency terms and US dollar terms. Forecast revised downwards due to modifications to historical figures.

Risk/Reward Rating

Lebanon's Risk/Reward Rating score, which provides an indication of the relative attractiveness of its pharmaceutical market for investment, is calculated at 55 out of 100. This positions the country at sixth place in the Middle East and Africa matrix. Total medicines consumption is expected to grow steadily over the forecast period, on the back of increased demand for modern medicines, population growth and healthcare service improvements. However this growth will be constrained by the relatively small population, large urban/rural divide, limited funding and wider political instability.

Key Trends & Developments

April 2013

A report released by the United Nations High Commissioner for Refugees (UNHCR) indicated that public healthcare systems in the Gulf Levant were becoming increasingly overstretched as the number of Syrian refugees increased in the region, putting strain on health services. Additionally, access was becoming increasingly difficult given a funding shortfall. Severe cash shortages mean that costly medical care for chronic diseases is being denied, with only emergency cases treated.

The Lebanese Pediatric Society and pharmaceutical company Merck, Sharpe and Dohme (MSD) announced they were working to raise awareness and increase the number of people in the country vaccinated against Human Papilloma Virus (HPV) and rotavirus. In Lebanon, cervical cancer, usually caused by HPV, is the second most common cause of cancer in women and around 180 cases are diagnosed every year, according to the Daily Star.

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