"Saudi Arabia Pharmaceuticals & Healthcare Report Q3 2010" now available at Fast Market Research

July 6, 2010 - PRLog -- In 2009, Saudi Arabia's pharmaceutical market was calculated to be worth US$2.77bn at consumer prices. Through to 2014, BMI forecasts that this figure will grow at a compound annual growth rate (CAGR) of 6.33% in local currency (as well as in US dollars, to which the Saudi riyal is pegged), reaching US$3.77bn. A key driver of growth will be an increase in the incidence of non-communicable diseases, such as diabetes and heart disease, although values will continue to face pressures from strict pricing policies and regulatory bias against foreign producers and their products. While generic products are expected to benefit from a combination of cost-containment measures and the authorities' attempt to boost the local industry, the Kingdom's wealth will continue to support the growth of the patented drugs market.

Overall, we see Saudi Arabia as one of the most attractive destinations for foreign companies in the Middle East and Africa (MEA) region. In our updated Business Environment Ratings (BER) for Q310, Saudi Arabia is ranked third out of the 19 regional markets surveyed, which now include Iraq and Ghana. Saudi Arabia's score is propped up by the country's wealth and a sizeable population (exceeding 25mn in 2010) rather than the forecast annual growth of its drug expenditure, although its steady development is clearly a factor. The government is also in the process of creating more public-private health partnerships and encouraging private health insurance uptake, which should provide the momentum for further drug sales.

Although it status improved from the previous year's Priority Watch List, the Kingdom remains placed on the Pharmaceutical Research and Manufacturers of America (PhRMA) Special 301 submission's Watch List for 2010, on the back of the signing of a decree on exclusive marketing rights (EMRs). The document should address the issues not covered by the 2004 patent law by providing a transitional protection period to a number of products left in limbo until their US patents expire. Concerns remain, however, as Saudi Arabia continues to show limited compliance with its international obligations and regulations, in particular the illegal disclosure of sensitive test data for new medicines. Additionally, the Kingdom has reportedly made little progress in revising market access barriers, including its pricing regime, while also working on the establishment of a unified formula for use by all government agencies.

Despite the falling oil prices in 2009, the government has recently reaffirmed its commitment to public projects in the course of 2010, which include investment in healthcare facilities. We maintain our belief that Saudi Arabia will be one of the strongest economies in the MEA region over the long term, due to a bright outlook for domestic demand and strong oil and gas output growth potential. The sooner the private sector and the markets regain confidence, the faster this rebound will be, thus positively affecting the forecast demand for pharmaceutical and medical services, as well as the government's programme to boost local pharmaceutical output.

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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Table: Saudi Arabia Pharmaceuticals And Healthcare SWOT
- Saudi Arabia Political SWOT
- Saudi Arabia Economic SWOT
- Saudi Arabia Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Middle East And Africa - Regional Pharmaceutical Business Environment Ratings, Q310
- Limits of Potential Returns
- Risks to Realisation of Returns
Saudi Arabia - Market Summary
- Regulatory Regime
- Recent Regulatory Developments
- Regional Regulatory Developments
- Free Trade Agreements
- Intellectual Property Developments
- IP Deficiencies
- Counterfeit Drugs
- OTC Drug Market
- Pricing and Reimbursement Issues
- Price Cuts
- Tendering Procedures
Industry Trends and Developments
- Epidemiology
- Bird and Swine Influenza
- HIV/AIDS
- Recent Public Health Developments
- Healthcare Sector
- Healthcare Professionals
- Primary Healthcare Provision
- Secondary Healthcare Provision
- Recent Healthcare Provision Developments
- Health Insurance
- Recent Health Insurance Developments
- Pharmaceutical Distribution Sector
- Table: Saudi Arabian Drug Distribution Firms
- Research and Development
- Medical Device Sector
- Recent Medical Devices Developments
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Saudi Arabia - Economic Activity
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Drug Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks to BMI Forecasts
Competitive Landscape
- Pharmaceutical Industry
- Foreign Industry
- Domestic Industry
- Recent Pharmaceutical Company Developments
Company Profiles
- Indigenous Company Profiles
- Saudi Pharmaceutical Industries & Medical Appliances Corp (SPIMACO)
- Saudi Arabian Japanese Pharmaceutical (SAJA)
- TABUK Pharmaceutical Manufacturing
- Al Jazeera Pharmaceutical Industries (JPI)
- Multinational Company Profiles
- GlaxoSmithKline
- Novartis
- Merck & Co

Full Table of Contents is available at:
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