Fast Market Research recommends "Bahrain Pharmaceuticals & Healthcare Report Q3 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 08/13/2013 -- Bahrain's wealth will continue to attract research-based pharmaceutical manufacturers. We therefore expect the value of the country's patented drug market to continue on its steady upward trajectory. However, annual growth rates of its generic counterpart will be considerably more impressive, despite coming off a very low base, as leading drugs lose their patent protection
Headline Expenditure Projections
- Pharmaceuticals: BHD100mn (US$266mn) in 2012 to BHD114mn (US$304mn) in 2013; +14.2% in both local currency and US dollar terms. Forecast slightly up from Q213, on the back of more positive macroeconomic data.
- Healthcare: BHD398mn (US$1.06bn) in 2012 to BHD431mn (US$1.14bn) in 2013; +8.2% in both local currency and US dollar terms. Forecast slightly down from Q213, on the back of new WHO data, which shows lower historical figures.
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Risk/Reward Rating: Following a slight adjustment of our assessment methodology, in our Q313 Pharmaceutical Risk/Reward Rating (RRR) matrix for the Middle East and Africa (MEA) region, Bahrain slipped by one position to now rank eighth out of the 30 markets surveyed in the region. The country's position remains seen as propped up mostly by its favourable risks profile, as its longer term rewards potential remains weighed down by its small population. On the other hand, Bahrain's well-developed business environment and demographic and epidemiological trends will continue to provide commercial opportunities for innovative drugmakers, although its political impasse is casting a shadow on its investment potential.
Key Trends And Developments
- The health ministry of Bahrain has introduced laws to minimise smuggling of unauthorised drugs into the country and to eliminate fake medicines from the market, accord to Trade Arabia reports from March 2013. According to new rules, only authorised agents will be able to import medicines, which are approved for use by Bahrain's health ministry. The new norms have been introduced to ensure that only those medicines are imported which are permitted for sale and use in Bahrain. The statement was made by Baha Eldin Fathea, the CEO of the National Health Regulatory Authority.
- Nevertheless, according to May 2013 reports by Gulf Daily News, some high-ranking doctors and other healthcare officials may be implicated in what has been termed 'mophine mafia' in Bahrain. The police have stepped up their investigation into illegal distribution and misuse of various sedatives and painkillers, while also urging the public to report suspicious activities through a specially created hotline.
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