Naperville, IL -- (SBWIRE) -- 01/17/2013 -- Healthcare, Regulatory and Reimbursement Landscape - United Arab Emirates. An essential source of information and analysis on the Polish healthcare, regulatory and reimbursement landscape, this report identifies the key trends in the healthcare market, as well as providing insights on the demographic, regulatory, and reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical device markets. In 2011, the UAE population was 8.4 million which was mainly due to the increasing number of immigration in the country. In 2011, the pharmaceutical market was estimated at $1.9 billion and is expected to reach $3.7 billion by 2020 at a projected CAGR of 7%. The medical device market was worth approximately $670.7m in 2011 and is expected to reach $979m by 2020 at a projected CAGR of 4%.
The positive trends in United Arab Emirates healthcare market can be attributed primarily to -
- Multiple health-care facilities
- Liberal trade policies
- Medical tourism
Scope
- An overview of the pharmaceutical and medical device markets, including size, segmentation, and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical and medical device markets. The key players covered for the pharmaceutical market are Julphar, Neopharma, GlaxoSmithKline, Pfizer, and Novartis, and the key players covered for the medical device market are F. Hoffmann-La Roche Ltd, Siemens Healthcare, Medtronic, Boston Scientific Corporation Inc and Abbott Laboratories.
- Insightful review of the reimbursement and regulatory landscape, with details of the reimbursement process, regulatory agencies and market authorization processes for new drug and medical devices
- Detailed analysis of United Arab Emirates political and economic environment, including economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the healthcare market
Highlights
Brand Power to Fade in UAE Pharmaceuticals?
The UAE’s population in 2011 was 8.4 million, but indigenous UAE citizens made up only 11.5% of this total. There is a large expatriate population in the country, primarily from Arab and Asian countries. High numbers of immigrants, a low mortality rate, and high life expectancy are leading to population growth within the UAE. Thus, the disease burden associated with lifestyle-related diseases and an aging population will force the government to allocate more resources to the care of the elderly, imposing financial and logistical burdens on the healthcare system.
The UAE’s pharmaceutical market is dominated by expensive branded products imported from the US and Europe, with the UAE domestic pharmaceutical industry comprising only 20% of pharmaceutical sales in the country. This preference causes product shortages in state healthcare facilities. To overcome this, the government has initiated several initiatives to better control the market. It is attempting to put in place price controls, while restricting advertising practices and banning direct-to-consumer marketing for drugs. The Ministry of Health (MOH) also introduced a cost cutting measure in an initiative that caused a price reduction for 565 branded drugs targeting chronic conditions such as diabetes and other lifestyle diseases, with costs being cut by 5-30% since January 1, 2012.
Meanwhile, the Health Authority Abu-Dhabi (HAAD) has announced that the country should adopt more cost-effective drug procurement strategies, including the use of generic substitution, to help to reduce inefficiency in the healthcare and pharmaceutical sectors. The Middle East Generic Association (MEGA) was formed in 2010 to promote both proper regulatory and bioequivalence testing and promote generic drug sales in the region.
The UAE also benefits handsomely from re-exportation of drugs to countries like Iran, Pakistan, Yemen, and Somalia. Since 2003, pharmaceutical imports have grown from a worth of AED800m (US$217.76m) to AED3 billion (US$0.82 billion) in 2010, while exports also rose from AED100m (US$27.2m) to AED400m (US$108.9m) during the same period. Therefore, despite the UAE policy changes, multinational companies will continue to penetrate the market due to continuing demand for patented medications, within and outside of the country, and a lack of viable domestic substitutions caused by a lack of R&D.
In 2011, the UAE’s pharmaceutical market was estimated to be worth US$1.9 billion, having increased from US$1 billion in 2006. The Compound Annual Growth Rate (CAGR) for this time period was 13.7%. The market is expected to reach US$3.7 billion in 2020 with a CAGR of 7%.
Reasons to buy
- Develop business strategies by understanding the trends shaping and driving the healthcare market in United Arab Emirates.
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical and medical devices market segments and companies likely to impact the healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors.
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnerships
- Identify, understand and capitalize on the opportunities and challenges in the healthcare market
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