New Healthcare market report from Business Monitor International: "Jordan Pharmaceuticals & Healthcare Report Q4 2012"
Boston, MA -- (SBWIRE) -- 12/20/2012 -- BMI View: We believe despite a temporary cash flow crisis for private hospitals in Jordan they will still have profited greatly from the influx of Libyan patients since the end of the civil war in 2011. It is our view that hospitals are likely to be reimbursed for all the procedures performed, possibly excluding elective cosmetic surgery. Therefore, they are likely to make a profit now the political wrangling about who is footing the bill is over. This is especially important as the country's economic woes mean the government is in a poor fiscal position to support the sector if its debts remain unpaid.
Headline Expenditure Projections
- Pharmaceuticals: JOD463mn (US$653mn) in 2011 to JOD501mn (US$707mn) in 2012; +8.1% in local currency terms and +8.1% in US dollar terms. Forecast slightly down from Q312 due to new historical data worsening macroeconomic conditions.
- Healthcare: JOD1.73bn (US$2.45bn) in 2011 to JOD1.87bn (US$2.65bn) in 2012; +8.0% in local currency terms and +8.1% in US dollar terms. Forecast slightly down from Q312 due to new historical data worsening macroeconomic conditions.
- Medical devices: JOD112mn (US$158mn) in 2011 to JOD121mn (US$171mn) in 2012; +8.3% in local currency terms and +8.4% in US dollar terms. Forecast down from Q312 due to new historical data worsening macroeconomic conditions.
View Full Report Details and Table of Contents
Risk/Reward Rating: Jordan's composite Pharmaceutical Risk/Reward Ratings score for Q412 fell by some 3% quarter-on-quarter. The new score - of 49.9 out of the maximum 100 - ranks Jordan in 10th position, out of the 30 markets surveyed in the Middle East and Africa region, down from ninth previously. Jordan's rewards and risk scores, however, remain evenly balanced.
Key Trends And Developments
- In June 2012, the Libyan government ended speculation over outstanding medical bills to Jordanian hospitals when it agreed to hire a Jordanian health insurance management company to help process financial claims filed by hospitals and hotels that treated around 55,000 patients from Libya over the past year. According to Jordanian sources, hospitals were owed around US$105mn, of which only US$30mn has been paid, with a further US$100mn owed to hotels and other accommodation providers. The debtors are now calling for all claims to be paid by a 30-day deadline, as stipulated in the Libyan-Jordanian Medical Cooperation Protocol.
- The recent regional unrest has created a myriad of issues for Jordanian healthcare providers. To this end, in mid-2012 UN Refugee Agency (UNHCR) launched a second aid appeal to maintain several basic services to the Syrian refugee community in Jordan. The refugee population is expected to grow and reach about 70,000 in Jordan alone, UNHCR representative Andrew Harper told the Jordan Times. The overall amount of aid is set at US$64mn, which Jordan is to receive by the end of August 2012.
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