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.