New Healthcare market report from Business Monitor International: "Bahrain Pharmaceuticals & Healthcare Report Q4 2013"

Boston, MA -- (SBWire) -- 11/08/2013 --Bahrain will remain import-reliant for its pharmaceutical needs. While its small population size is a limiting factor, the entrenched preference for patented products will continue to stimulate foreign research-based companies interest in the local pharmaceutical market. Some investors will, however, remain vary on account of the ongoing political tensions in the country.

Headline Expenditure Projections

- Pharmaceuticals: BHD99mn (US$262mn) in 2012 to BHD108mn (US$287mn) in 2013; +9.7% in both local currency and US dollar terms. Forecast down in relation to previous quarter's projection on account of analyst intervention.
- Healthcare: BHD402mn (US$1.07bn) in 2012 to BHD438mn (US$1.16bn) in 2013; +8.9% in both local currency and US dollar terms. Forecast slightly down in relation to previous quarter's projection on account of lower expected growth of pharmaceutical values.

Risk/Reward Rating: In our Q413 Pharmaceutical Risk/Reward Rating matrix for the Middle East and Africa region, Bahrain remains ranked among the top 10 out of 30 markets. While the persistent political tensions will detract foreign companies from deeper involvement in the country's healthcare and pharmaceutical markets, its well-developed business environment and demographic and epidemiological trends will continue to provide commercial opportunities for innovative drugmakers. Supporting this view is the situation whereby patented products continue to account for almost as much as three quarters of the total pharmaceutical market's value.

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Key Trends And Developments

- In order to tackle the worrying number of sickle cell disease sufferers in the country, in August 2013, local press reported that Bahrain is finalising the Genetic Blood Diseases Centre. Located at the Salmaniya Medical Complex (SMC), the centre received investment of some BHD2.65mn, according to Health Ministry's hospital affairs assistant under-secretary Dr Ameen Al Sa'ati, as cited by the Gulf Daily News. The new centre is expected to ease the pressure on the SMC and improve the quality of care offered to those inflicted by the genetic condition.

BMI Economic View: Bahrain's economy will remain on a recovery path heading into 2014, driven by a normalisation of oil output, continued improvements in non-oil business activity, and steadfast fiscal support from the government. However, the continued uncertainty of Bahrain's political trajectory remains a key downside risk.

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