Oman Pharmaceuticals & Healthcare Report Q2 2014 - New Report Available

From: Fast Market Research, Inc.
Published: Thu Mar 27 2014

This quarter has seen a focus on development and opening of government-funded and private healthcare infrastructure projects aimed at meeting growing domestic demand for healthcare services and positioning the country as a regional medical tourism hub. While the country boasts a number of attractions to gauge foreign drugmakers' interest, we continue to highlight that Oman's small population and limited per capita spending limits pharmaceutical market growth.

Headline Expenditure Projections

* Pharmaceuticals: OMR175mn (US$455mn) in 2013 to OMR191mn (US$503mn) in 2014; 9.3% in local currency terms and 10.7% in US dollar terms. Forecast broadly in line with Q114.
* Healthcare: OMR785mn (US$2.04bn) in 2013 to OMR852mn (US$2.24bn) in 2014; +8.6% in local currency terms and +10.0 in US dollar terms. Forecast broadly in line with Q114.

Risk/Reward Rating

Oman has limited longer-term commercial potential due to its small population and the fact that the government is responsible for the bulk of healthcare costs, which will increase the need for cost containment in the coming years. In Q214, Oman's Pharmaceutical Risk/Reward Rating (RRR) scores 47.1 out of 100, maintaining its position at 11th in the region.

Full Report Details at

Key Trends And Developments

January 2014

The Ministry of Health launched the Oman National Stroke Guideline, under the auspices of Dr Ahmed bin Mohammed al Saeedi, Minister of Health, aiming to improve the quality of care received by patients with strokes. The guideline will be circulated to different health institutions in the Sultanate to improve the provision of stroke care services, prevention and improve patient rehabilitation.

The Omani government announced 2014 expenditure (including investment spending) of OMR13.5bn, of which OMR1.3bn will be allocated to the healthcare sector. The budget allocation for healthcare infrastructure projects is estimated at OMR384mn, with the main hospitals planned by the government this year including Muscat, Suwaiq and Salalah, according to the Times of Oman.

The promoters of the International Medical City (IMC) project planned in Salalah reported they have made significant headway in preparing the groundwork for the actual physical development of the estimated US $1bn scheme. Phase I of the ambitious development, which is hoping to attract heavy medical tourism, is expected to be kicked off in the coming months, according to a key representative of the Saudi-based Apex Medical Group.

November 2013

The Minister of Health stated that among the major health projects that will be implemented by the public sector, some are already operational and others will be opened within a few months, The Minister of Health said that there are several health projects included in the eighth five-year plan and tenders have been floated for supervision and designing of several hospitals.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Sweden Pharmaceuticals & Healthcare Report Q2 2014
- Kenya Pharmaceuticals & Healthcare Report Q2 2014
- Croatia Pharmaceuticals & Healthcare Report Q2 2014
- Mexico Pharmaceuticals & Healthcare Report Q2 2014
- Thailand Pharmaceuticals & Healthcare Report Q2 2014

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

Visit website »