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Home > Healthcare > Pharmaceutical > General Pharmaceutical
United Arab Emirates Pharmaceuticals and Healthcare Report Q4 2008
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BMI estimates that the United Arab Emirates’ (UAE) drug market expenditure was AED2.71bn(US$0.74bn) in 2007. Over the forecast period (2008-2012), we expect growth to average 8.8% year-onyear(y-o-y), with the market reaching a value of AED4.13bn (US$1.12bn) by the end of 2012.
Over the next five years, there are likely to be major structural changes in the way in which healthcare isprovided in the UAE. Duabi and Abu Dhabi have already unveiled universal health insurance modelsduring 2008, and the Ministry of Health is hoping to announce a system which includes the whole of theUAE in the near future.
In BMI’s updated Business Environment Rankings for the Middle East and Africa, the UAE remains topof the table by some distance of 15 regional markets surveyed. Although its drug expenditure is notablylower than that of Saudi Arabia, the UAE drug market’s high growth potential and the stable regulatoryand political environment offer a favourable business location. This view continues to be born out, withUS-based Pfizer becoming the latest multinational drugmaker to choose the UAE as its regionalheadquarters.
Exchange rates have caused problems in the UAE’s import reliant drug market. In response to the weakdirham against the euro, the UAE's Ministry of Health announced that the prices of medicines importedfrom eurozone countries will be increased, with effect from October 15. The price of drugs to treatchronic diseases will increase by 5.85% and the price of non-chronic disease medicines will increase by21.4%; prices will be reviewed again in two years time. Import prices will continue to be calculated byconsidering the price of the drug in the country of origin and in comparable neighbouring countries, andthe pricing calculation will also be reviewed every two years.
While most of the UAE’s pharmaceutical needs are supplied by imports, the country’s domesticpharmaceutical industy continues to expand its international footprint. Gulf Pharmaceutical Industries(Julphar) is set to open a number of international plants. Manufacturing operations in Afghanistan arescheduled to begin in late 2008; plants in Sudan and Morocco should open in 2009; and plants in Yemen,Iran and Lebanon should open in 2010. Meanwhile, Globalpharma recently received goodmanufacturing practice (GMP) certification from South Africa’s Medicines Control Council (MCC).
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