New Healthcare market report from Business Monitor International: "Jordan Pharmaceuticals & Healthcare Report Q2 2013"
Boston, MA -- (SBWIRE) -- 05/28/2013 -- Although Jordan's pharmaceutical market is not as attractive as those of Israel and Lebanon in the Gulf Levant, we are broadly positive in our outlook for the sector where consumption is set to increase due to the growing population, increased urbanisation and incidence of noncommunicable diseases as well as swifter uptake of drugs. However, the biggest downside risk to investment is the country's relatively young population and lack of jobs, which will restrict purchasing power and medicines uptake. Limited employment opportunities are expected to persist and will be likely to result in political unrest, altering the business environment and cutting into foreign direct investment.
Headline Expenditure Projections
- Pharmaceuticals: JOD602mn (US$849mn) in 2012 to JOD660mn (US$905mn) in 2013; +9.6% in local currency terms and +6.6% in US dollar terms. Forecast increased from Q113 on account of new historical data.
- Healthcare: JOD1.97bn (US$2.78bn) in 2012 to JOD2.16bn (US$2.96bn) in 2013; +9.3% in local currency terms and +6.2% in US dollar terms. Forecast increased slightly from Q113 on account of new historical data for pharmaceutical consumption.
View Full Report Details and Table of Contents
Risk/Reward Rating: Jordan'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 reweighting 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. Jordan has a RRR score of 49.9 out of 100, making it the 10th most attractive pharmaceutical market among the 30 markets surveyed in the Middle East and Africa (MEA) region.
Key Trends And Developments
- Jordan is struggling to provide adequate healthcare services to a rising number of Syrian refugees, with its budgets previously having been stretched by an influx of Iraqi and Libyan refugees. Indeed, in January 2013, Minister of Health Abdul Latif Wreikat was quoted by the Jordan Times as stating that healthcare provision for refugees is on the verge running out, calling on the international community to help. The statement was made during the official opening of the permanent headquarters of the Jordan Health Aid Society, which is located in Jandaweel.
- British-Jordanian drugmaker Hikma Pharmaceuticals posted H112 profit growth of 13% yearon- year (y-o-y) - with the figure increasing to US$46mn, up from US$40.7mn in H111. The company's revenue increased by 35% y-o-y to US$532.3mn. However, there was a 27% drop in the sales in the generic drug division, which was attributed to increasing price pressures.
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