New Study: Egypt Pharmaceuticals & Healthcare Report Q2 2016

Egypt's evolving demographic and epidemiological profile will support pharmaceutical growth over the long-term. The Egyptian government's commitment to healthcare has been demonstrated through significant increases to national budget allocations for the health sector. We note that the government is demonstrating increasing will to implement policy reforms within the health sector, boosting Egypt's attractiveness to international pharmaceutical companies. However, questions regarding financial feasibility will be raised. The country's improving political outlook and gradual economic recovery, albeit a slow one, will add to the market's attractiveness; however , regional instabilities remain a deterrent to company interest.

Headline Expenditure Projections

Pharmaceuticals: EGP33.08bn (USD4.29bn) in 2015 to EGP36.48bn (USD4.47bn) in 2016; +10.3% in local currency terms and 4.1% in US dollar terms. Forecast unchanged from Q 1 1 6
Healthcare: EGP114.20bn (USD14.83bn) in 2015 to EGP127.06bn (USD15.57bn) in 2016; +11.3% in local currency terms and 5.0% in US dollar terms. Forecast upgraded from Q 1 1 6 .

Full Report Details at
- http://www.fastmr.com/prod/1118983_egypt_pharmaceuticals.aspx?afid=301

Risk/Reward Index

Despite years of political instability and a slow economic recovery, Egypt remains a moderately attractive commercial opportunity for multinational pharmaceutical companies. Egypt's medium-term growth is positive and has improved significantly over the past year in line with an improving political situation, albeit with persisting instabilities. In our Q216 Pharmaceutical Risk/Reward Index (RRI) Egypt's score of 44.3 out of 100 is slightly lower than its score last quarter of 44.4. It is ranked as the fourth most attractive market in Africa, and has maintained its position in 13th place out of 31 countries analysed in the whole Middle East and Africa (MEA) region. It boasts a significantly large pharmaceutical market size compared to the majority of its regional peers, however growth is hampered by a below-average spending per capita on pharmaceuticals.

Latest Updates

In February 2016, Egypt will host the first Africa-to-Africa investment forum, whereby a number of Egyptian pharmaceutical companies can offer expertise and solutions for drug companies within other African countries.

In January 2016, El Ezaby, chairman of Egypt's pharmaceutical industry chamber, announced there are currently around 130 local and foreign pharmaceutical factories in the Egyptian market, including 70 additional plants under construction.

In December 2015, Egypt approved a USD75mn loan from the World Bank, which will be invested towards the country's ailing healthcare sector.

BMI Economic View

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