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mena pharmaceutical market size

03:00 PM - 04:00 PM BST. Here, the regulatory environment is typified by tough entry barriers largely to protect local industry, price controls, parallel imports and the constant impact of fluctuations in economic conditions. Data exclusivity and intellectual property remains a key area of concern. Looking forward, new innovative drugs to come on the MEA market will be related to obesity and hypertension, while the region supports a strong opportunity for producing drugs for orphan and rare diseases. The introduction of the GCC could see many of these regulatory barriers reduced, with an excellent example being the free trade agreement between the GCC and India that will likely result in further generic penetration into the Middle East market. Nevertheless, the USD 3.8 billion Algerian pharma market remains a high priority for MNCs investing in MENA, with many companies choosing to base regional functions out of the country. The European excipient certification organization EXCiPACT has now issued certificates in Saudi Arabia, indicating not only the development of the manufacturing industry in the country, but also its ability to meet high quality standards. What will the market size be in 2027 and at what rate will it grow? © 2020 All rights reserved. 24-04-2017. Second most striking fact about this region is the availability of labour force, A World Economic Forum (WEF) report suggested that by 2030, the region is set to expand its tertiary educated talent pool by 50 per cent (Figure 2).

The most vibrant domestic pharmaceutical market would be found in Egypt, Israel and Turkey. For registration or further information please visit www.cphi.com/mea.

This is being driven significantly by urbanization, with more economically developed cities meaning that more people have the means to access medicines. This pharma company was established in 2016 by like- minded technocrats each having more than 20 years of experience in various fields like Business Development, IPR, Research, Operations, Portfolio Management, Regulatory, Quality, etc. Another trend could be the partnering with other domestic manufacturers or CMOs to license their products and bring them to the region that way. Some of the strongest governments' investment in infrastructure include the implementation of health insurance and privatisation systems; development of medical tourism infrastructures; development of domestic manufacturing; and access to innovative drugs. Longer life expectancy, lower mortality rates and rising income levels. The market for MENA nutraceuticals is forecast to surpass. CPhI Middle East & Africa is the region’s leading platform that brings together pharma ingredients, product manufacturers, suppliers and buyers covering every step of the pharma supply chain from drug research and discovery to finished dosage. The industry produces roughly 50 per cent of country’s need for medicine. This has involved ambitious government healthcare reforms as both population and prevalence of chronic diseases continue to grow in the region. unsubscribe at any time. Capitalising on the country’s advantageous geostrategic positioning and, with the recent approval of the Dubai Silk Road Strategy and existing high-quality logistics infrastructure, the UAE is becoming a key source market; both manufacturing and exporting pharmaceuticals to high-demand markets such as Africa and Asia. Leading global pharmaceutical event CPhI to debut a Middle East & African version in Abu Dhabi in September 2018 For further information on how we process and monitor All rights reserved. Nutraceuticals products are available in a variety of forms such as dietary supplements, functional food, and functional beverages. This expected to hinder the market growth. Growing preferences towards fortified products such as fortified pasta, cereal bars, cheese spreads, protein bread, flavored cheese slices, and Greek yogurt are projected to foster market growth. Join Pharma & Biotech today and interact with a vibrant network of professionals, keeping up to date with the industry by accessing our wealth of articles, videos, live conferences and more. 03:00 PM - 04:00 PM BST, 2020-10-01 Regionally, GCC dominated the global water purifier market in 2019, reporting 42% market share in terms of revenue, followed by North Africa and Rest of the Middle East, respectively. We use cookies and similar technologies to recognize your visits and preferences, as well as to measure the effectiveness of campaigns and analyze traffic. However, this may not be the case for all international firms looking to enter the region; there is a current preference amongst several MENA countries to reduce imports of foreign branded drugs and increase both domestic production and consumption of generics. “*” marked represents similar segmentation in other categories in the respective section. Nutraceuticals are pharmaceutical products that are derived from food sources to deliver additional health benefits. Over 200 local, regional and international exhibitors from more than 30 countries are expected to attend the three-day showcase. Leading global pharmaceutical event CPhI to debut a Middle East & African version in Abu Dhabi in September 2018, Event to capitalise on growing importance of MEA region to international pharma industry. Tracking shifts in MENA healthcare systems Over the last decade, the MENA market access landscape has undergone significant transition that has garnered attention from investors and top-performing pharma companies alike. There is a gap in the pharma industry wherein many customers in the regulatory market look for API and FDF development together by a partner wherein API can be supported by continuous research.

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