The Pharmaceutical Market: Oman - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-13 15:09:02
Oman´s commendable public healthcare system and high-class tertiary and quaternary care hospitals will increase the uptake of medical tourism by GCC citizens. The Omani pharmaceutical market will continue to remain heavily reliant on imports due to the costly need to source raw ingredients for local manufacturing and lack of R&D backing. However, despite t he strict drug pricing system, we are likely to see more multinational companies penetrating the market and expanding volume sales, by addressing the increasing burden of non-communicable diseases in the country.
Headline Expenditure Projections
Pharmaceuticals : OMR151mn (US$391mn) in 2011 to OMR166mn in 2012; +9.9% in local currency terms and +11.3% in US dollar terms. Forecast revised upwards due to modi fications to historical figures.
Healthcare: OMR742mn (US$1.93bn) in 2011 to OMR839mn (US$2.21bn) in 2012; +13.1% in local currency terms and +14.6% in US dollar terms. Forecast revised upwards due to modifications to historical figures .
Medical devices: OMR40mn (US$105mn) in 2011 to OMR44mn (US$116mn) in 2012; +9.5% in local currency terms and +10.9% in US dollar terms. Forecast revised upwards due to modi fications to historical figures.
Risk / Reward Rating
Risk-Reward Rating scores represent a country´s pharmaceutical market attractiveness for investment, which includes weightings of risk and rewards analysis of the wider macroeconomic environment. Oman´s consistent score of 50.2 out of 100 over the past three quarters places it above the MEA regional average of 44.2, indicating a favourable and stable environment for multinational investment. Oman also currently maintains its position as ninth out of 30 countries in the MEA matrix.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
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