Our latest research offering “Middle East and Africa Pharma Sector Forecast to 2012”, depicts that the pharmaceutical industry in the region is undergoing a phase of dynamic change. The changes brought about by revolutionary initiatives taken by the government of the constituent nations will help the pharma industry to grow at an unprecedented rate. Various policies being introduced are related to the strengthening of the IPR protection laws, providing incentives, and tax exemptions to the foreign and domestic companies, and improving the marketing & distribution channels. Additionally, rising health consciousness, prevalence of diseases, and healthcare expenditure will help the Middle East & Africa pharma market to grow at a CAGR of around 9.5% during 2011-2013.
The pharma market in this region will continue to grow due to the high demand of drugs, even though there are multitudes of political issues in the region, which can potentially harm the industry. We have found that South Africa, Saudi Arabia, Algeria, and Egypt are the main defining markets in the region, and they will continue to dominate the market in future also. However, other countries, such as the UAE, Nigeria, and Israel have a lot of untapped potential, which can be utilized by the pharma companies.
To capitalize on the opportunities in the Middle East & Africa pharma market, the multinational companies are looking to penetrate the market through individual or collaborative efforts. Joint ventures and other distribution agreements with the local companies will provide multinationals the advantage of having a better understanding of the market and its demands.
Our report also provides detail outlook of the pharma market of constituent countries of the Middle East and Africa pharmaceutical region. It also covers all the prominent market drivers, such as generics, low manufacturing costs, etc. Detail statistical and analytical review of healthcare demographics, market breakup, and restraints has also been included in the report. It contains comprehensive information along with rational analysis that will help clients to draw up market strategies and assess opportunity areas in the Middle Eastern and African pharmaceutical market.
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Article By: Shushmul Maheshwari