The company’s new report* forecasts Egypt’s pharmaceutical market to climb from a value of US$3 billion in 2012 to US$5.3 billion in 2020, while the county’s medical devices market is expected to grow from US$789m to US$1.1 billion during the same period.
Pricing policies introduced in May 2011, which linked the price of pharmaceuticals with international prices, are expected to act as a key growth driver for Egypt’s healthcare sector in the coming years.
Additionally, last October’s proposal of a new universal healthcare law that will provide health insurance coverage to the entire Egyptian population should prove a significant boost to healthcare revenue once introduced across the country.
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However, the social turmoil currently permeating Egypt has given rise to a number of significant obstacles to growth. The North African nation has a population of approximately 80 million, the majority of whom are of working-age, but unemployment levels have crept up in recent years and stood at 12.5% by the end of
Political instability has also been a major problem since the revolution in January 2011. Egypt’s economy is currently facing high inflation, a weakening of Foreign Direct Investment (FDI) and last year the country’s fiscal deficit increased to 10% – a factor that may substantially affect how much the Egyptian government allocates to healthcare spending in the future.
This report provides an overview of the pharmaceutical and medical devices markets, comprising size, segmentation and key drivers and barriers.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.
GlobalData is a leading global research and consulting firm offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.
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