Boston, MA -- (ReleaseWire) -- 06/26/2014 -- Bahrain's National Health Regulatory Authority has begun implementing its multi-phased plan to significantly reduce medicine prices in the country. The price cuts are the result of a Gulf Cooperation Council decision to unify the cost of medication in the region and will eventually give rise to cheaper hospital treatments across the country. The demand for medicines will remain driven by the country ' s ageing population, increasing non-communicable disease burden and strong economic growth. However, the potential risk of vital drug shortages that may follow from both initial and further price cuts to medicines along with the political stalemate between government and opposition are factors that negatively impact the potential of the pharmaceutical market.
Headline Expenditure Projections
- Pharmaceuticals: BHD106mn (USD281mn) in 2013 to BHD114mn (USD302mn) in 2014; +7.4% in both local currency and US dollar terms. Forecast adjusted to better reflect current market conditions.
- Healthcare: BHD488mn (USD1.29bn) in 2013 to BHD533mn (USD1.41bn) in 2014; +9.4% in both local currency and US dollar terms . Forecast adjusted to better reflect current market conditions.
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Risk/Reward Rating: In our Q3 2014 matrix for the Middle East and Africa, Bahrain scores of 45 out of 100 and is ranked 12th out of the 30 markets surveyed in the region. The country's position is propped up by its favourable risks profile, as its longer-term rewards potential remains weighed down by its small population. On the other hand, Bahrain's well-developed business environment and demographic and epidemiological trends will continue to provide commercial opportunities for innovative drugmakers.
Key Trends And Developments
There is a severe shortage of several vital medicines in Bahrain, reports akhbar-alkhaleej.com. The country is suffering a critical shortage of diabetes medicines and medicines used in the treatment of heart and blood pressure diseases. Local residents are...
The Bahrain 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 Bahrain Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Bahraini pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Bahrain to test other views - a key input for successful budgeting and strategic business planning in the Bahraini pharmaceutical and healthcare market.
- Target business opportunities and risks in the Bahraini pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Bahrain.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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