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Economic Liberalisation Will Drive Middle East Pharma Market Size to More Than $12bn By 2010, Says a Report From URCH Publishing.

Posted on: Thursday, 6 April 2006, 06:00 CDT

Recent policies to liberalise the economy and the introduction of mass health insurance will spur pharmaceutical growth in key markets over the next five years, predicts Major Pharmaceutical Markets of the Middle East: An overview of Egypt, Israel, Jordan, Lebanon, Saudi Arabia & UAE, from URCH Publishing.

The region is a high-growth market, mostly import-oriented, and has already achieved an impressive 10.6% combined annual growth rate (CAGR) between 1999 and 2003, around 4% more than the estimated world average and second only to Southeast Asia and China.

The liberalisation policies pursued by the governments or pushed through bilateral agreements with the US or the EU are key to the region's future potential. Israel has already liberalised its over-the-counter (OTC) sector, while the implementation of cooperative health insurance in Saudi Arabia is forecast to increase the Kingdom's private health market from $1.06bn to $3.46bn over the next 2-3 years, ahead of Egypt and the United Arab Emirates.

"However, multinationals must be wary of the inadequate level of intellectual property rights protection in the region," warns Jean-Michel Saliba, the report's author. "US-based pharmaceutical industry association, PhRMA, has estimated that the combined annual losses to its members in the Middle East due to lack of patent protection amounted to $555m," added Mr Saliba. "Nevertheless, pharmaceutical companies that invest wisely in this market and understand its dynamics will find it is possible to operate in the region without adverse developments having necessarily a profound impact on activities," he said.

The 100 page report provides necessary information for pharmaceutical companies to operate in the Middle East region. Country coverage includes:

-- Egypt, the largest pharmaceutical market of the region

-- Israel, home to the world's largest generic drug company

-- Jordan, the leading Arab pharmaceutical exporter

-- Lebanon, an almost exclusive import market

-- Saudi Arabia, the largest market of the Gulf

-- The United Arab Emirates, among the highest-priced markets in the region

Major Pharmaceutical Markets of the Middle East is available from URCH Publishing. More detail at http://www.urchpublishing.com.

Source: Business Wire

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