Market Analysis - (2020) Volume 4, Issue 6
Received: 05-Dec-2020 Published: 26-Dec-2020
From Middle-East to North Africa consists of 18 countries from Morocco to Iran. This region had gradually developed its Pharma markets to more than 140 companies are operating in this region. MENA (Middle East and North Africa) pharmaceutical market accounts approximately 2% of the world market.
The pharmaceutical sector in the Middle-East and North Africa has observed remarkable growth in the region over the last few years and is estimated to grow around US$60 billion by 2025, with US$1.2-billion allocated for the healthcare system in the 2019 budget. The governments in this region had focusing more and more on the well-being of a growing population and enhancing healthcare services, timely and safe delivery of medical supplies and pharmaceuticals products has laid down the promising future for pharmaceutical industry in the region of Middle East. According to globe Pharma studies, the pharmaceutical sector’s growth in the region is largely driven by high population growth and it has increased life expectancy and the good lifestyle.
The global pharmaceutical market was worth $934.8 billion in 2017and will reach $1,170 billion in 2021, growing at around 5.8%.The Middle East and North Africa is the region is noted for quick expansion of the pharmaceutical sector. According to the some research the Pharmaceutical market has reached to $25B in value in 2018, with a short-term growth of 13% from 2017 to 2018.This speed
growth of market is forecasted to grow to $60B by 2025.The growth in the pharmaceutical sector in this region is mainly attributed to change in population dynamics, where the population is changing, but also ageing. The rapid growth in the economy from oil production and tourism had led to a good and sedentary lifestyle which is the main source of increase in various non-contagious chronic illnesses.
Pharmaceutical revenue in Billions:
1. In 2016 it is 36 billions
2. In 2017 it was 33.34 billions
3. In 2018 it has 25 billions
4. In 2019 it had 30 billions
5. In 2020 it will be into 40 billions
Clinical Research:
The clinical research industry of Abu Dhabi gives the Services on clinical trial and the service providers which are used to offer a high quality, cost-effective service and clinical expertise to the hospitals, and the healthcare units.
The clinical laboratory reports of UAE, services market, analyses the current and gives future prospects of the market. The clinical report gives the information about the test types, and its segments market opportunity analysis along with a market snapshot and comparative analysis. This report provides in-depth analysis of the clinical laboratory services market in Abu Dhabi. The responsible person for giving report include laboratories, pharmaceutical. The diagnostic companies providing clinical test solutions and laboratory services .The market analysis gives a test types and service providers makes significant segments in the UAE market in 2016.The clinical laboratories are those players in the Clinical laboratories service. The Middle East clinical trials market size was estimated at USD 1.36 billion in 2019 and expected to expand to 1.95 USD in 2024 at a CAGR of 7.55% over the forecast period.
Upgrading of new technology in clinical trials increasing prevalence of chronic diseases, and demand from developing countries are some of the major factors running the global market.Where as rising demand for Contract Research Organizations for conduct clinical trials is projected to further runs the growth.The talented expertise of CROs as compared to pharma companies when it comes to performing clinical trials in wide array of geographies and development of drugs in specific therapeutic areas and these are the factors responsible for the demand for CROs in pharmaceutical segment.On the BioOutsource Report 2017,the demand for bio similar testing is expected witness growth in U.S. attributed to the fact that the Food and Drug Administration has started addressing the lack of clear guidance with regards to biosimilars, specifically the way the developers should prove similarity of their drugs to that of the originator product.
Scope of Pharmacoepidemiology in Middle East:
The recent advance in the technology and the increase in population size has made a bright future of clinical and pharmacoepiodiomolgy in the Middle East region. The government of Abu Dhabi has made changes in the governing polices which results in the more outcome of people in the region. The lifestyle of people had changed with the facility from the government. The cases for the rate for all strokes ranged between 22.7 and 250 per 100,000 people per year. The growth rate for stroke ranged comes in 508 and 777 per 100,000 populations. Among reporting studies gender differences75% reported a high male-to-female ratio are stroke patients. The actual age of stroke was within the sixth and the seventh decade. Blood clotting or the heart stroke was reported more numbers times followed by intracerebral hemorrhage and subarachnoid hemorrhage. Rise in blood pressure was the common reported risk factor followed by diabetes. The reports of case-fatality rate within one month were 12–32. During the last ten years, there was rise in stroke incidence and mortality rates in the Middle East. This region going through rates of self-awareness and control of non- communicable diseases and also lacks knowledge for stroke risk factors, awareness, causes, and symptoms.
