According to our latest research offering, “Middle East and Africa Pharma Sector Forecast to 2012”, the Middle East and African region is emerging as one of the fastest growing pharma markets in the world. The growth has been due to several defining factors, such as vast population base, regional governments’ moves to liberalize national economies, introduction of mass healthcare insurance system, and increasing diseases penetration among the region’s population. Our report has also found that most of the countries in the region are dependent on imported drugs to meet the domestic demand. Hence, another growth factor has been the need of domestically produced drugs, which is being supported by the government through various policies. Backed by these factors, the Middle East and Africa pharma market is expected to grow at a CAGR of around 10% during 2011-2013.
Our report suggests that South Africa and Saudi Arabia have been the most prolific pharma markets in the MEA region, with countries, such as Algeria, the UAE, Egypt, Nigeria, and Israel developing at a stupendous rate. Due to the high prospects of growth, many multinational pharma majors have established or are in the process of establishing their manufacturing units in these countries. Additionally, the companies are entering the region through viable joint ventures with the local companies, who have the requisite know-how of the market, but are lacking in investment power and R&D.
The report has incorporated all the detail information regarding the pharma industry of the Middle East and Africa region and the countries that comes under this category. Our team of industry experts has carefully studied the industry background in each country and has presented forecasts for the market for the period 2011-2013.
Moreover, our report “Middle East and Africa Pharma Sector Forecast to 2012” provides prudent analysis of authentic data, which has been procured through extensive research. Forecasting has been done with due consideration of the impact of recent economic downturn and the ongoing political tension in the region. The report also contains detail analysis and statistics of the segmentation, regulatory environment, and competitive analysis of the inclusive countries. The report provides valuable information regarding the industry trends and constraints to pharmaceutical & biotechnology companies and investors, which will help them in entering these markets with robust strategies.
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Article By: Shushmul Maheshwari