MENA pharma market to top $44b by 2020

Business Monday 16/April/2018 14:55 PM
By: Times News Service
MENA pharma market to top $44b by 2020

Muscat: The value of the Middle East and North Africa (MENA) pharmaceutical market is expected to reach US$44 billion by 2020, according to CPhI Middle East & Africa.
CPhI Middle East & Africa is the region’s leading platform that brings together pharma ingredients, product manufacturers, suppliers and buyers covering every step of the pharma supply chain from drug research and discovery to finished dosage.
“Despite plentiful opportunities, the region is also one of the most complex markets to operate in, due to varying rules, standards and systems, across regulatory, market access, and pricing points. In addition to providing a platform to meet and do business, CPhI Middle East & Africa will also offer high-level content, and insights into developing strategies for overcoming these challenges,” said Cara Turner, Brand Director.
UBM EMEA, the organiser of the leading global pharmaceutical exhibition CPhI, has announced that the Middle East and Africa edition will make its regional debut in the UAE capital at the Abu Dhabi National Exhibition Centre (ADNEC) from September 3 to 5, 2018.
Supported by Abu Dhabi Chamber of Commerce and Industry, the event is set to attract attendees from the Middle East and Africa (MEA), of which the MENA region accounts for four per cent of the global pharma market, and the rest of the world.
Over 200 local, regional and international exhibitors from more than 30 countries are expected to attend the three-day showcase. In addition to the global network of exhibitors, the event is expected to attract over 5,000 participants, more than 50 per cent of whom are expected to come from the MEA region.
Key growth drivers are attributed to a growing population, and greater investment in healthcare by governments. Some of the strongest governments' investments in infrastructure include the implementation of health insurance and privatisation systems, development of medical tourism infrastructure, development of domestic manufacturing, and access to innovative drugs.
Looking forward, new innovative drugs that come into the MEA market will be related to obesity and hypertension, while the region supports a strong opportunity for producing drugs for orphan and rare diseases.
The exhibition will also feature Live Pharma Connect, a free service open to visitors and exhibitors, allowing both parties to make pre-arranged pharma-specific, mutually beneficial meetings during the event.
Running parallel to the exhibition will be a range of content sessions addressing the latest trends in the market, a range of keynote addresses, as well as a host of networking opportunities.
Hot topics of discussion on the show floor will include the key drivers behind the MEA pharma market, including the growth in population, greater investment and spending in healthcare from governments, western lifestyle influence on health such as obesity and chronic diseases, including diabetes, cardiovascular diseases and oncology.
According to the International Diabetes Federation in November 2014, the UAE alone had over 800,000 diabetics, nearly one fifth of the total population, and the health authority estimated that within a few years the UAE would be home to 1.8 million suffers.
Manel Chikh, CEO, Zaphyr Pharma, said: “This event will be a fantastic opportunity to introduce the region to the wider pharma market and to give foreign companies real exposure to the potential opportunities it offers. API developers, finished dosage suppliers, CROs and manufacturers will have the chance to build strong relationships with key regional and local players to encourage local production, as well as stimulate imports of high quality and effective medicines in the region.”