Fast Market Research recommends "Egypt Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 10/02/2013 --We continue to expect that Egypt's pharmaceutical market will experience negative shorterterm issues on account of the protracted political turmoil. We also note that the cost of imports - of both pharmaceutical raw materials and finished products - will rise following the recent downgrade of Egypt's credit rating. Nevertheless, in the longer term, we still expect steady growth of both values and volumes, as the market's underlying characteristics - including growing population and gradually improving access to facilities - promote its development.

Headline Expenditure Projections

- Pharmaceuticals: EGP12.83bn (US$2.11bn) in 2012 to EGP14.35bn (US$2.02bn) in 2013; +11.8% in local currency terms and -4.4% in US dollar terms. Local currency slightly lower in relation to Q313, on account of macroeconomic factors and lower historical data.
- Healthcare: EGP74.19bn (US$12.22bn) in 2012 to EGP83.43bn (US$11.75bn) in 2013; +12.5% in local currency terms and -3.8% in US dollar terms. Local currency slightly lower in relation to Q313, on account of macroeconomic factors.

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Risk/Reward Rating: We continue to view Egypt as a moderately attractive commercial opportunity for multinationals. The country is again ranked 13th out of the 30 countries assessed in the Middle East and Africa (MEA) Risk/Reward Rating (RRR), as both its Industry and Country Risk components remain viewed as elevated and thus below the regional averages.

Key Trends And Developments

- In June 2013, 2013, representatives from Egypt's insurance companies debated the country's medical insurance law, its shortcomings and possible improvements. Egypt's medical insurance law was blamed for causing losses to insurance companies, as it mandates health insurance for all citizens without specifying the percentage of patients who would seek to do so through the private sector. The representatives demanded an independent agency to provide insurance coverage data to companies in order to facilitate exchange of information between the government and insurance companies.
- In the same month, Egypt's Investment Minister Yehia Hamed was cited by local press as saying that Egypt's public sector will not undergo privatisation, despite rising concerns over the government's alleged focus on divesting shares and reducing the number of state workers. Hamed claimed that new technologies through partnership deals with private sector companies would be welcomed by the ministry, although no land or facility would be up for sale. Hamed also emphasised the significance of the state medicine sector, which has been able to maintain balance on the market, as well as its challenges to monopolies held by foreign and other private sector companies within Egypt's economy.

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