Recently published research from Business Monitor International, "Bahrain Pharmaceuticals & Healthcare Report Q2 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 06/07/2013 -- We continue to view Bahrain as one of the more attractive in the Middle East and Africa (MEA) region, mostly on account of the relatively high per capita spending, developed healthcare infrastructure and a solid regulatory background. On the down side, the market's potential will continue to be severely limited by the small population size, which is projected to reach only 1.54mn by 2022. Nevertheless, Bahrain's wealth and private insurance for expatriates will continue to provide opportunities for the placement of imported novel products.
Headline Expenditure Projections
- Pharmaceuticals: BHD100mn (US$266mn) in 2012 to BHD111mn (US$293mn) in 2013; +10.3% in both local currency and US dollar terms. Forecast broadly unchanged from Q113.
- Healthcare: BHD468mn (US$1.24bn) in 2012 to BHD510mn (US$1.35bn) in 2013; +9.1% in both local currency and US dollar terms. Forecast broadly unchanged from Q113.
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Risk/Reward Rating: Bahrain's Pharmaceutical Risk/Reward Rating (RRR) score for Q213 is unchanged from the previous quarter. This is also the case for all other countries in BMI's proprietary system that ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Bahrain has an RRR score of 54.9 out of 100, making it the seventh most attractive pharmaceutical market in the Middle East and Africa (MEA) region, which covers 30 countries.
Key Trends And Developments
- In February 2013, Jordanian-British generic drug manufacturer Hikma signed a licensing and distribution deal for an osteoporosis treatment Binosto (alendronate sodium), with Switzerlandbased EffRx Pharmaceuticals SA. The agreement covers 19 countries across the Middle East and Africa (MENA) region. Binosto was developed by EffRx in collaboration with Merck & Co, which had provided EffRx with rights for its Fosamax (alendronate) osteoporosis product. Binosto is now covered by effervescent and related patents through to early 2023, as reportedly the first and only buffered effervescent solution for the treatment of osteoporosis. The agreement is part of Hikma's strategy to increase the number of products in its portfolio.
- The Salmaniya Medical Complex (SMC) and other public healthcare centres throughout Bahrain were reported to be getting ready to offer an additional 200 medicines to their patients. The treatments, procured as part of the BHD26mn (US$67mn) Gulf Co-operation Council (GCC) Unified Purchase Programme, will reportedly cover 90% of the public sector requirements. The remainder will be procured through local tenders. The total budget for medicines was increased from BHD35mn in 2012 to BDH40mn in 2013.
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