Boston, MA -- (ReleaseWire) -- 06/11/2014 -- BMI View: Lebanon benefits from a sizeable healthcare sector where the costs of health services and drug prices are generally high. The private sector accounts for about 90% of Lebanon's hospitals and pharmacies, driving the prescription of high-value pharmaceuticals. However, the government's commitment to cost containment measures continues as it announces further price reductions for an increasing selection of medicines, impacting overall market value. Tension between Lebanese political blocs concerning the ongoing civil war in Syria presents significant risks to both political and economic stability, contributing to factors which impede the market's potential.
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Headline Expenditure Projections
- Pharmaceuticals : LBP2,056.94bn (US$1.36bn) in 2013 to LBP2,190.07bn (US$1.46bn) in 2014; +6.5% in local currency and +7.3.% in US dollar terms. Forecast broadly in line with Q 2 2014 .
- Healthcare: LBP4,778.68bn (US$3.17bn) in 2013 to LBP5,251.39bn (US$3.51bn) in 2014; +9.9% in local currency and +10.7% US dollar terms. Forecast slightly higher from Q 2 2014 .
For Q3 2014, Lebanon's Pharmaceutical Risk/Reward Rating (RRR) score is calculated at 52.7 out of 100, ranking the country seventh in the Middle East and Africa matrix, one place above last quarter's eighth position.
Key Trends & Developments
The Lebanese Health Minister Wael Abu Faour has announced that prices for another batch of drugs will be reduced by an average of 17%, reports the Daily Star. In March the ministry reduced the prices of 629 medicines by 20%. The decision to reduce prices was approved by all the relevant ministries, including industry, finance, economy and the Shura Council. Abu Faour has warned pharmacies, hospitals, pharmaceutical companies and depots against breaching the decision or objecting to it.
Eisai EMEA has reported that Halaven (eribulin) is now commercially available in Lebanon as a treatment for women with locally advanced or metastatic breast cancer...
The Lebanon Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Lebanon Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Lebanese pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Lebanon to test other views - a key input for successful budgeting and strategic business planning in the Lebanese pharmaceutical and healthcare market.
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