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Bahrain Pharmaceuticals and Healthcare Report Q4 2009

330

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An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

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Market

Healthcare and Medical

Report Type

Market Research

Country

Bahrain

Published

15 October 2009

Number of Pages

75

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

From BHD44mn (US$114mn) in 2008, BMI forecasts that Bahrain’s pharmaceutical market will expand to be worth BHD61mn (US$160mn) in 2018. While the market will remain small in absolute terms, rapid value growth, representing a compound annual growth rate (CAGR) of 6.8% and a favourable political economic and business environment mean that the country is likely to increasingly feature in drugmakers’ Middle East and Africa (MEA) strategies. In BMI’s Q409 Business Environment Rating for the 17 countries of the MEA region, Bahrain ranks eighth. The potential returns from the market are constrained by the island’s population of just 1mn. However, a strong regulatory structure and stable political climate create a relatively low-risk business environment. The Gulf Co-operation Council (GCC) member states already work together on a number of regulatory fronts and hope to deepen this collaboration in the coming years. At present, the GCC operates a unified import tariff system, as well as a system of collective tenders for group purchasing of drugs and vaccines. These tenders are an important way for multinational drugmakers to supply the Bahraini market. Healthcare is provided free of charge by the government to all citizens of Bahrain. Although, along with a number of other Gulf states, Bahrain has recently excluded non-Bahrain nationals from the public healthcare system. As a result, expatriates have to purchase private insurance – either personally or through their employers – or pay out-of-pocket for their treatments. Demand for healthcare is growing rapidly due to a combination of factors including population growth, an ageing population, and a higher prevalence of chronic disease. According to a Ministry of Health study published in 2008, these three factors alone will cause healthcare expenditure to increase by around 500% over the next 20 years to reach BHD1.15mn in 2025, assuming no changes in the type of care provided. Private healthcare is likely to see considerable growth over the coming years. The artificial ‘health island’ known as Dilmunia, off the north coast of Bahrain should become a focal point for the growing private healthcare industry in the country and provide a major draw for health tourists from overseas. The project is progressing on schedule, with land reclamation work completed at the beginning of June 2009. The first phase of the project is expected to be completed in 2012, and the second phase in 2015.

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Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£330.00

Change Currency

GBP EURO USD

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