2012-07-20 04:28:20 - New Healthcare market report from Business Monitor International: "Bahrain Pharmaceuticals & Healthcare Report Q3 2012"
BMI View: We retain our cautious view of the impact of the political situation in Bahrain on its economy and public spending initiatives, including healthcare. While we envisage the preference for patented drugs to remain in place over the coming decade, epidemiological and demographic pressures will combine to increase the need for cost-containment in regards to public spending. Nevertheless, Bahrain's pharmaceutical market growth is expected to remain ahead of its GDP development, as the country continues to invest heavily in its health infrastructure.
Full Report Details at
- www.fastmr.com/prod/435950_bahrain_pharmaceuticals_healthcare_re ..
Headline Expenditure Projections
* Pharmaceuticals: BHD91mn (US$240mn) in 2011 to BHD98mn (US$260mn) in 2012; +8.3% in local currency and US dollar terms. Forecast lower from Q212, on account of new historical data.
* Healthcare: BHD433mn (US$1.15bn) in 2011 to BHD475mn (US$1.26bn) in 2012; +9.8% in local currency and US dollar terms. Forecast lower from Q212, on account of new historical data.
* Medical devices: BHD26mn (US$68mn) in 2011 to BHD28mn (US$74mn) in 2012; +8.8% in local currency and US dollar terms. Forecast unchanged from Q212.
Risk/Reward Rating: In Q312, Bahrain stopped sliding down our proprietary Pharmaceutical Risk/Reward Ratings (RRRs) matrix for the Middle East and Africa (MEA), once again ranking seventh out of the 30 markets surveyed in the region. The country's composite score stands at an unchanged 54.9, supported by its favourable risk profile. However, the score is dragged down by modest industry rewards, which are awarded 40 out of the maximum 100 points, thus standing at one point below the regional average. Globally, Bahrain is 38th out of the 95 markets assessed in total using our RRR model.
Key Trends And Developments
* In May 2012, the CEO of National Health Regulatory Authority (NHRA), Dr Baha Eldin Fateha, was quoted by Gulf Daily News as saying that the government is to impose new legislation for the regulation of alternative medicines 'within weeks', subject to approval. The regulations stipulate that only those physicians licensed to practice homeopathy, ayurveda and Chinese medicine will be allowed to operate, with licences subject to meeting certain requirements. The introduction of the regulations in the previously unregulated alternative medicines sector follows reports of misuse of herbal medicines for the treatment of cancer and diabetes.
BMI Economic View: Bahrain's economic recovery will only gradually gather steam in 2012, with elevated government consumption and an ongoing improvement in the net export position bolstering headline growth at a time when fixed investment activity remains muted. We project the economy expanding 2.5% and 3.4% in real terms in 2012 and 2013, following estimated growth of 1.9% in 2011.
BMI Political View: The Formula One race held in Bahrain in April 2012 was a public relations disaster for the government. Not only did the race re-focus international media attention on the country's ongoing political crisis, but it also appears to have galvanised the opposition. Rather than sending a message that the political crisis was over, the outburst in protest activity and increased media attention that accompanied the event simply served to highlight the simmering sectarian tensions throughout the country. As a result, the net economic impact of staging the event could prove to be negative over the medium term, especially as some non-sports journalists were barred from entering the country, which effectively ensured that reports of the regime censoring the media would begin to arise.
Partial Table of Contents:
- Bahrain Pharmaceuticals And Healthcare Industry SWOT Analysis
- Political SWOT Analysis
- Economic SWOT Analysis
- Business Environment SWOT Analysis
Pharmaceutical Risk/Reward Ratings
- Table: Middle East And Africa Pharmaceutical Risk/Reward Ratings, Q312
Bahrain - Market Summary
- GCC Harmonisation
- Intellectual Property Regime
- Pricing And Reimbursement Regime
- Free Trade Agreement With The US
- Other Free Trade Agreements
- Non-Communicable Diseases
- Table: Leading Causes Of Death In Bahrain, 2008
- Healthcare Sector
- Recent Healthcare Sector Developments
- Primary, Secondary And Tertiary Healthcare
- Table: Ministry Of Health's Objectives
- Health Insurance
- Table: National Health Insurance Scheme Breakdown
- Healthcare Sector Investment
- Table: Features Of Dilmunia Health Island
- Information Technology In Healthcare
- Research And Development
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2008-2016
- Healthcare Market Forecast
- Table: Healthcare Expenditure Indicators 2008-2016
- Table: Healthcare Governmental Indicators 2008-2016
- Table: Healthcare Private Indicators 2008-2016
- Key Growth Factors - Macroeconomic
- Bahrain: Major Infrastructure Projects
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2008-2016
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2008-2016
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2008-2016
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2008-2016
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2008-2016
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2008-2016
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario
- Pharmacetical Industry
- Domestic Industry
- Company Developments
- Pharmaceutical Retail
- Local Companies
Full Table of Contents is available at:
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