New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/22/2015 -- The competitiveness of Iraq's pharmaceutical sector, as well as the ability of the government to ramp up healthcare investment , is linked to oil prices and additional foreign investment, which is, in turn, highly dependent on the security situation. The long-term prospects for the Iraqi pharmaceutical and healthcare markets therefore remain promising given rising healthcare expenditure and population growth. The Iraqi government reportedly pledged to invest USD12bn into healthcare expansion in 2014 , and the Ministry of Health recently awarded 18 health project contracts worth USD276mn. In the short term however, numerous factors will continue to hamper market growth , such as expected further political unrest with accompanying high levels of violence and even the possibility of a partition of the country.
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Headline Expenditure Projections
- Pharmaceuticals: IQD1,620bn (USD1.39bn) in 2013 to IQD1,734bn (USD1.49bn) in 2014; +7.0% in local currency and +7.2% in US dollar terms. Forecast slightly higher than in Q414.
- Healthcare: IQD9,701bn (USD8.33bn) in 2013 to IQD10,331bn (USD8.88bn) in 2014; +6.5% in local currency and +6.7% in US dollar terms. Forecast lower than Q414 due to macroeconomic conditions.
Iraq's Pharmaceutical Risk/Reward Index (RRI) score for Q115 reflects the market's potential and its strong economic growth prospects. It performs better in terms of Rewards than Risks. In Q115 Iraq scores 40.5 out of 100, making it the 17th most attractive pharmaceutical market in the Middle East and African region. Its score has slightly decreased and the country lost one position in our index from Q414.
Key Trends And Developments
- In November 2014, Baghdad Governorate opened a health centre for citizens in the Nahrwan area of northern Baghdad, according to IraqiNews.com. The governorate stated that the three-floor building was ready within 300 days to provide health services for citizens in the area. The Baghdad Health...
The Iraq Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Iraq Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Iraq pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Iraq, to test other views - a key input for successful budgeting and strategic business planning in the Iraqi pharmaceutical and healthcare market.
- Target business opportunities and risks in the Iraqi pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Iraq.
- Assess the activities, strategy and market position of your competitors via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI?s forecast analysis, and taken together with BMI?s political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ?000 population).
Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
OTC Drug Market: OTC sales (USDbn & % of total sales).
Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
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