Recent Study: Jordan Pharmaceuticals & Healthcare Report Q3 2013

Boston, MA -- (SBWire) -- 08/01/2013 --As we anticipated, Jordanian pharmaceutical exports increased in 2012 due to base effects around the Arab Spring in 2011. We project exports from Jordan will slow through to 2017 as generic competition from Indian and Chinese drugmakers increases, and as multinationals address high noncommunicable disease burdens in key GCC markets. To counter these factors, we believe Jordanian drugmakers will widen their presence in Africa by driving volume sales in markets with large populations, such as Nigeria and Egypt. While the country boasts a thriving generic drugs industry with a positive trade balance, it will continue to rely on high-value medicine imports.

Headline Expenditure Projections

- Pharmaceuticals: JOD604mn (US$853mn) in 2012 to JOD668mn (US$916mn) in 2013; +10.6% in local currency terms and +7.3% in US dollar terms. Forecast largely in line with previous quarter's figures.
- Healthcare: JOD1.93bn (US$2.73bn) in 2012 to JOD2.11bn (US$2.89bn) in 2013; +9.2% in local currency terms and +6.0% in US dollar terms. Forecast largely in line with previous quarter's figures.

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Risk/Reward Rating: Our adjusted risk and reward assessment tool - the proprietary Pharmaceutical Risk/Reward Rating (RRR) - is now more transparent and more sensitive in regards to potential rewards. Nevertheless, Jordan remains seen as a modestly attractive market in the Middle East and Africa (MEA) region, again ranking tenth out of 30 markets surveyed. Issues of concern include a small population size, preference for the consumption of generic products, and the potential for further social unrest.

Key Trends And Developments

- Mirroring previous reports, according to April 2013 reports by International Medical Travel Journal, citing a study by GlobalData, the increasing number of war victims and refugees coming from Iraq and Syria has been putting pressure on Jordan's healthcare sector. The GlobalData study was entitled: 'Healthcare, Regulatory and Reimbursement Landscape - Jordan'. The news reports also state that a high level of unemployment is also a challenge for the country's medical tourism sector.
- According to Jordan Times reports, Jordan registered a 20% year-on-year (y-o-y) rise in pharmaceutical exports to US$643mn in 2012. This was revealed by Mohammad Ali Shahin, representative of healthcare-related industries and medical supplies at the Jordan Chamber of Industry. Meanwhile, the country is expected to witness an increase in revenue to US$1bn by 2015, if exports continue to grow at the same pace. However, growth witnessed a slowdown in relation to previous years, on account of regional political instability.

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