2014-01-09 09:01:02 - United Arab Emirates Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
The UAE has a well-developed healthcare and pharmaceuticals market, with a growing private sector encouraging investment and increasing demand for innovative drugs, particularly those that treat non-communicable diseases such as diabetes, heart disease and hypertension. The introduction of mandatory health insurance, which comes into force in January 2014, is another factor boosting growth, but on the downside, drug prices are falling as the government continues to look for ways to cut costs. The news that Dubai successfully bid to host the World Expo in 2020 has widespread implications - which reach into the healthcare sector - and as such, we expect to see strong growth over our 10-year forecast period.
Pharmaceuticals: AED6.68bn (US$1.82bn) in 2012 to AED7.02bn (US$1.91bn) in 2013; +8.0%
in local currency and +8.0% in US dollar terms. Forecast revised down from Q413 because of macroeconomic conditions.
Healthcare: AED55.46bn (US$15.10bn) in 2012 to AED61.94bn (US$16.88bn) in 2013; +11.7% in local currency terms and +11.8% in US dollar terms. Forecast lowered from Q413 on account of macroeconomic conditions.
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