Pharmaceutical Demand Booming In Oil-Rich Gulf
The market for pharmaceuticals in the oil-rich Gulf States is rapidly expanding due to high incomes, a preference for patented medicines, and the increased prevalence of diseases – like diabetes – which can be caused by sedentary lifestyles. While intellectual property protection in the region is often poor, and some markets are controlled by government-imposed price controls, BMI believes that the Gulf economies represent a significant opportunity for global drug-makers. Five Gulf States ranked among the most attractive in the Middle East and Africa on our proprietary pharmaceutical Risk-Reward Ratings. Explaining BMI’s rating system and the opportunities offered by rising pharmaceutical spending in the Gulf is Kathy Cole, an analyst with Business Monitor’s Pharmaceutical and Healthcare research team. To listen to this week's podcast, please visit our Risk Watchdog blog.