Moreover, shifting focus of consumers from the treatment of diseases to daily preventive measures to reduce the onset of chronic and lifestyle-related disease is augmenting the market growth. These developments could represent new trends developing over coming years for foreign pharmaceutical firms. Leading global pharmaceutical event CPhI to debut a Middle East & African version in Abu Dhabi in September 2018 CPhI drives growth and innovation at every step of the global pharmaceutical supply chain from drug discovery to finished dosage. The Middle East and North Africa (MENA) region’s pharmaceutical market is projected to reach a value of around USD 60 billion by 2025 according to reporting from TradeArabia.The most impressive growth is coming from the UAE, but North African giants Egypt and Algeria are also significant contributors.
medicine and supplies, the future of pharma companies establishing foot in the MENA region looks promising. Few countries star ted accepting electronic submissions similar to eCTD. BioLIVE (9-11, October, 2018 in Madrid); CPhI, ICSE, P-MEC, FDF and InnoPack Worldwide (9-11 October, 2018 at the IFEMA, Feria de Madrid – Madrid, Spain); CPhI & P-MEC India (3–6 December 2018 at the BEC and BKC Exhibition and Convention Centres – Mumbai, India); Pharmapack Europe (6-7 February, 2019 at the Paris Expo, Porte de Versailles – Paris, France); CPhI, P-MEC, ICSE, Labworld and Innopack South East Asia (6-8 March, 2018 at BITEC - hall 99 – Bangkok, Thailand). It may be the case that final products are imported into the region from Indian generics manufacturers. Already an IQPC Community Member? You can change your cookie settings through your browser. Access the most comprehensive database of companies and officers in the Middle East and North Africa, covering all major sectors and industries, from Refinitiv. However, due to a high average spending power and a cultural distrust of cheaper foreign made products, it is perhaps more likely that APIs will be imported, with local manufacturers providing the final product. CPhI hosts events in Europe, North America, Korea, China, India, Japan, Southeast Asia and the Middle East, and co-locates with ICSE for contract services, P-MEC for machinery, equipment & technology, FDF for finished dosage formulations, InnoPack for pharmaceutical packaging and BioPh for biopharma. However, the rise of non-communicable diseases, and rising healthcare costs are likely to attract foreign investment into the continent, as well as the further development of domestic manufacturing capabilities. © 2020 All rights reserved. This is my presentation in Turkish and MENA pharmaceutical summit 3rd Nov.2015 in Istanbul I tried to provide audience with practical steps to enter MENA pharmaceutical markets starting from market selection and prioritize them based on market size, growth, investment attractiveness, regulatory and setup challenges..etc. Manel Chikh, CEO, Zaphyr Pharma, said: “This event will be a fantastic opportunity to highlight the region to the wider pharma market and to give foreign companies real exposure to the potential opportunities it offers. Creating this capability will help control the crucial API component in supply value chain of FDF along with sustainable API SBU.
This is due to a variety of factors, such as vastly differing spending powers amongst its constituent nations, the lack of a centralized pharmaceutical regulator, and varying preferences for branded products vs generics. They were placed on your computer when you launched this website.
The pharmaceutical market has some unique specifications in healthcare economics. Pharmaceutical market in MENA region forecast to reach $50 billion in 2025 17-01-2017 Print. They primarily produce basic medicine, but for innovative medicine, they still rely on imports. Opportunities for Foreign Companies in the MENA Pharmaceutical Market (c) paolo gualdii/Stockphoto, Celonic: Soenke Brunswieck appointed as Vice President Cell & Gene Therapy, All-round Pharma Service Providers See Potential in Asia, Elsewhere.
Israel already has a strong network of academic and research institutes, R&D facilities and advanced medical facilities. For example, Saudi Arabia is trying to move away from being a purely oil-based economy, and so growing their healthcare sector is a good way of diversifying. As per the latest CPhI report, MENA market is turning out to be the most sought after market for the global pharmaceutical arena. Concretely, the UAE is funnelling over USD 1.2 billion into the healthcare system in its 2019 budget, which will be supported by substantial inputs from its USD 540 million innovation fund. “I firmly believe MENA region has significant potential to add up to the company portfolio with plentiful untapped opportunities, and is accessible with proper strategy, planning and effective execution under guidance of the regional experts.
The region urgently needs to create more dignified and productive work and employment opportunities for this cohort of young women and men who have entered or will soon enter the labour force. API developers, finished dosage suppliers, CROs and manufacturers will have the chance to build strong relationships with key regional and local players to encourage local production, as well as stimulate imports of high quality and effective medicines in the region.”. 2020-11-25 One of the crucial aspects of the MENA pharma market is the existence of the Gulf Cooperation Council (GCC). 95 percent of global pharma companies already have a base in the UAE, giving them access to 43 countries worldwide. This has involved ambitious government healthcare reforms as both population and prevalence of chronic diseases continue to grow in the region. CPhI provides an online buyer & supplier directory at CPhI-Online.com. However, this may not be the case for all international firms looking to enter the region; there is a current preference amongst several MENA countries to reduce imports of foreign branded drugs and increase both domestic production and consumption of generics. In recent years South Africa has turned increasingly to generic drugs, providing a great opportunity for both domestic and foreign manufacturers, with the generics market forecast to grow by a robust 12% compound annual growth rate (CAGR) during 2017-2022. Thus far, pharmaceutical products in the region has centred on imports of drugs with local production mainly focusing on generics. Nevertheless, the USD 3.8 billion Algerian pharma market remains a high priority for MNCs investing in MENA, with many companies choosing to base regional functions out of the country.
Wealthy oil states still impor t medicinal products due to their high spending capacity.
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