Boston, MA -- (ReleaseWire) -- 07/23/2014 -- Medicine prices are expected to decline shortly in Qatar amid the 'imminent' unification of medicine importation channels and the adoption of a new medicine pricing mechanism by the member countries of the Gulf Co-operation Council (GCC). The unified regional pharmaceutical pricing policy among GCC member states will reduce medicine prices in Qatar and improve its national drug accessibility, if implemented properly. Although the drug pricing controls can potentially negatively affect multinationals' revenues in the country, increasing volume sales will at least partially offset the effect. As massive hydrocarbon wealth is spread generously across the country's native population, Qatar's pharmaceutical market will remain attractive to multinationals.
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Headline Expenditure Projections
- Pharmaceuticals: QAR1.63bn (USD449mn) in 2013 to QAR1.82bn (USD499mn) in 2014; +11.3% in local currency and 11.3% in US dollar terms. Forecast in line with Q 2 14 .
- Healthcare: QAR16.75bn (USD4.60bn) in 2013 to QAR18.70bn (USD5.14bn) in 2014; +11.7% in both local currency and US dollar terms. Forecast revised upwards due to macroeconomic modifications.
Risk/Reward Rating: Qatar's risks are particularly low in comparison with the rest of the MEA region, although its potential rewards are dampened by the small market size. Nevertheless, Qatar's high level of urbanisation, rapid population growth and rising prevalence of chronic lifestyle diseases creates an environment in which there is strong potential for market growth. On account of shifts within BMI's Pharmaceutical Risk/Reward Rating Index for the Middle East and Africa matrix, in Q314, Qatar has moved up again one position in the MEA matrix to reclaim fifth place with the country's scores higher this quarter scoring 53.5 out of 100.
Key Trends And Developments
- In May 2014, Qatar Airways Cargo's India focus continues with the company launching a new weekly freighter service between the airline's hubs in Doha...
The Qatar 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 Qatar Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Qatari pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Qatar to test other views - a key input for successful budgeting and strategic business planning in the Qatari pharmaceutical and healthcare market.
- Target business opportunities and risks in the Qatari pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Qatar.
- 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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