UAE: Pharma
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Robust growth in the UAE's pharmaceuticals and healthcare market will be fuelled by rising purchasing power, record oil revenues and the expansion of the private healthcare sector. The market is characterised by some of the highest drug prices in the region, which should help to ensure annual growth. However, recent government price-restrictions on a range of drugs will have an impact in coming years. Hopes, held by some drugmakers and pharmacies, that the government may not fully enforce the cuts look to be overly optimistic. The authorities have recently come to an agreement with leading local producer Julphar, while non-compliant pharmacies are being threatened with direct distribution. By 2009, the market is likely to reach at least US$1.1bn at consumer prices, which is equivalent to US$180 per capita.