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Recent Study: Jordan Pharmaceuticals & Healthcare Report Q1 2014

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2013-12-09 12:21:24 - New Healthcare market report from Business Monitor International: "Jordan Pharmaceuticals & Healthcare Report Q1 2014"

We continue to view Jordan as a moderately attractive prospect for pharmaceutical companies. Despite its relatively well-developed healthcare system, the country is focused on the use of generic medicines, many of which are produced locally. Nevertheless, over our five-year period to 2017, we forecast that the pharmaceutical market will post a compound annual growth rate (CAGR) of 9.0% in local currency terms (or 8.9% in US dollars), driven by epidemiological and demographic factors. However, we note this rate of growth is considerably slower than the historical figures.

Headline Expenditure Projections

* Pharmaceuticals: JOD620mn (US$876mn) in 2012 to JOD695mn (US$978mn) in 2013; +12.0% in local currency terms and +11.7% in US dollar terms. Forecasts up slightly in relation to the previous quarter's

projections on account of macroeconomic factors.
* Healthcare: JOD1.91bn (US$2.70bn) in 2012 to JOD2.11bn (US$2.98bn) in 2013; +10.4% in local currency terms and +10.1% in US dollar terms. Forecasts up in relation to the previous quarter's projections on account of macroeconomic factors.
* Risk/Reward Rating: Our risk and reward assessment tool - the proprietary Pharmaceutical Risk/ Reward Rating (RRR) - now ranks Jordan in an improved 10th position, out of 30 markets surveyed in the Middle East and Africa (MEA) region in Q114. However, generally speaking, although Jordan offers are relatively favourable investment environment from the point of view of risks, its small population size (of about 7mn) and the possibility of political unrest will continue to pose constraints in terms of potential pharmaceutical market growth.

Full Report Details at
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Key Trends And Developments

* In September 2013, Jordan's Private Hospitals Association (PHA) was reported to be considering alternatives to compensate for the rise in electricity tariffs without raising the prices of medical procedures, according to The Jordan Times. As of August 2013, the country's government hiked electricity tariffs by 5% for hospitals and stopped giving them a 25% discount on their electricity bills, stated PHA President Fawzi Hammouri, which will have a bearing on their expenses.
* In the same month, Phillip Byrne, the managing director and owner of United Kingdom (UK)-based BR Pharmaceuticals, signed a deal to collaborate with one of the largest family business empires in Jordan. The agreement has provided a 50% shareholder stake in Byrne's GBP4mn (US$6.2mn) turnover business to Omar Abu Sheikha, who owns a pharmaceutical and healthcare import and distribution business across the Middle East (as part of the Abu Sheikha Holding Group), and the largest money exchange business in Amman, Jordan.

BMI Economic View: According to the recently released data from the government, the Jordanian economy expanded by 3.1% in real annual terms over Q213, thus accelerating in relation to previous months. The positive results, the best since Q411, have been achieved despite ongoing government austerity measures and the intensification of regional unrest during the period. However, the removal of general subsidies on fuel products in November 2012, and a hike to electricity tariffs in August 2013 are pushing up consumer price inflation (CPI), although food inflation has been on the downward trend.

BMI Political View: Jordan's government has been able to claim several successes in recent months and faces little challenge from an opposition weakened by the decline of the Muslim Brotherhood in Egypt. However, the weakness of the economy, continuing government austerity measures, and the intensification of the Syrian conflict will all remain threats to the regime.

Partial Table of Contents:

BMI Industry View
- Political
- Economic
- Business Environment
Industry Forecast
- Pharmaceutical Market Forecast
- Table: Jordan Pharmaceutical Sales, Historical Data and Forecasts
- Healthcare Market Forecast
- Table: Jordan Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Jordan Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Jordan Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Jordan Prescription Drug Market Indicators, Historical Data and Forecasts
- Patented Drug Market Forecast
- Table: Jordan Patented Drug Market Indicators, Historical Data and Forecasts
- Generic Drug Market Forecast
- Table: Jordan Generics Drug Market Indicators, Historical Data and Forecasts
- OTC Medicine Market Forecast
- Table: Jordan Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
- Pharmaceutical Trade Forecast
- Table: Jordan Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Jordan Pharmaceutical Trade Data And Forecasts (JODmn)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
Macroeconomic Forecasts
- Economic Analysis
- Table: Jordan - Economic Activity
Industry Risk Reward Ratings
- Middle East Africa Risk/Reward Ratings
- Jordan Risk Reward Ratings
- Rewards
- Risks
Market Overview
Industry Trends And Developments
- Epidemiology
- Table: Diabetes Care Costs In 10 Middle Eastern Countries With Highest Prevalence
- Table: Notifiable Communicable Diseases & Conditions, 2002-2010
- Healthcare Sector
- Table: MoH Health Centres, 2004-2010
- Table: Physicians by Sector, 2005-2010
- Table: Hospitals by Sector, 2001-2010
- Table: MoH Budget, 1995-2010 (JOD '000s)
- Healthcare Insurance
- Research And Development Sector
- Clinical Trials
Regulatory Development
- Regulatory Developments
- Intellectual Property Regime
- Pricing And Reimbursement Regime
Competitive Landscape
- Pharmaceutical Industry
- Domestic Pharmaceuticals Sector
- Foreign Companies
- Retail Pharmacy Sector
- Table: Pharmacists by Sector, 2010
Company Profile

Full Table of Contents is available at:

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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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