Introduction of market defining regulations and increasing expenditure on healthcare & pharma is contributing to the growth of the Middle East and Africa pharmaceutical industry. The pharma industry of the region has been benefitted majorly from factors, such as large & consistently increasing population, high prevalence of diseases, and many more. These supportive factors will ensure the continued growth of the pharmaceutical industry in the MEA region in near future as well.
According to our new analytical research study “Middle East and Africa Pharma Sector Forecast to 2012”, the pharmaceutical market in the region is expected to grow at a CAGR of around 9.5% during 2011-2013. Currently, the regional market is in a state of evolution due to the definitive regulatory changes in the corresponding nations. The policy changes are aimed at boosting the domestic pharma industry, and to encourage the influx of key foreign private players in the industry.
Our report indicates that countries, such as South Africa, Saudi Arabia, Algeria, and Egypt are currently dominating the pharmaceutical industry of the whole region. These countries have better position than others in terms of infrastructure and the regulatory environment. The report also shows that, MEA pharmaceutical industry is highly dependent on imports, with most of the drugs and therapeutics being procured from the European countries. Besides, generics hold a considerable share in the market due to their affordability factor. The Governments of the MEA nations are promoting domestic pharma manufacturing by introducing friendly policies, incentives, and investments in the industry. Overall, the growth of the industry is expected to bolster in near future.
Our report also provides extensive information on the Middle Eastern and African pharmaceutical market, along with detail outlook of the pharma market of constituent countries. It also covers all the prominent market drivers, such as generics, healthcare insurance market, etc. The research study provides thorough statistical and analytical review of the healthcare demographics, key drivers, and restraints. 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 markets.
