United Arab Emirates Pharmaceuticals & Healthcare Report Q3 2013 - New Study Released

From: Fast Market Research, Inc.
Published: Tue Aug 27 2013

The UAE's pharmaceuticals and healthcare market continues to grow, with the country standing out as a regional leader in areas such as medical tourism and its ability to attract multinational investment. While the population is small, the UAE does have strong growth prospects for the course of our 10-year forecast period to 2022, as medical tourism will ensure demand is high for innovative drugs and continued investment in healthcare infrastructure means the standards of provision will grow. Competition between emirates is another factor that will boost growth. During 2013, it is expected the UAE will sign an FTA agreement with the US. This will boost its prospects further once completed.

Full Report Details at
- http://www.fastmr.com/prod/670544_united_arab_emirates_pharmaceuticals_healthcare.aspx?afid=301

Headline Expenditure Projections:

* Pharmaceuticals: AED6.62bn (US$1.80bn) in 2012 to AED7.19bn (US$1.96bn) in 2013; +8.1% in local currency and +8.1% in US dollar terms. Forecast unchanged from Q213.
* Healthcare: AED53.66bn (US$14.61bn) in 2012 to AED59.77bn (US$16.29bn) in 2013; +11.4% in local currency terms and +11.5% in US dollar terms. Forecast raised from Q213 on account of new historical data.

Business Environment Rating:

UAE stands close to the top of our Pharmaceutical Risk/Reward Rating (RRR). In Q313 it ranked third out of a total of 30 markets in the Middle East and African region, with a score of 57.0.

Key Trends & Developments:

Dubai Health Authority announced that it has introduced a new visa system for people travelling to the emirate for medical treatment. Patients can now stay in the emirate for up to nine months to complete their treatment.

In June 2013 the UAE's Ministry of Health revealed that 6,610 drugs are now 40% cheaper on average, following the introduction of a unified drug pricing system. The new system, which will see wholesale prices in US dollars, aims to prevent exchange rate fluctuations leading to overly expensive drugs in the country.

Eli Lilly opened its regional headquarters in the UAE, in Dubai Healthcare City, in June 2013. Spain's Cinfa also announced that it was entering the UAE, using the country as a platform to enter the region's pharma market.

BMI Economic View: Oil production continues to drive the UAE's economy, although we note that inflation is climbing. BMI forecasts real GDP growth of 3.3% in 2013, a reduction of our earlier forecast of 3.7%.

BMI Political View: A wealthy country boasting relative security, democracy and transparency when compared to other Gulf states, the UAE's oil revenues should help ensure continuity and political stability. There has been some turmoil of later, however, with human rights organisations questioning the government's treatment of opposition groups.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- United Arab Emirates Pharmaceuticals & Healthcare Report Q3 2013
- United Arab Emirates Diagnostic Imaging Investment Opportunities, Analysis and Forecasts to 2018
- United Arab Emirates Patient Monitoring Investment Opportunities, Analysis and Forecasts to 2018
- United Arab Emirates Anesthesia and Respiratory Devices Investment Opportunities, Analysis and Forecasts to 2018
- United Arab Emirates Cardiovascular Devices Investment Opportunities, Analysis and Forecasts to 2018

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »