UAE Pharmaceutical Market Evolving as a Major Force in the Region

The UAE pharmaceutical market is estimated to grow at a CAGR of around 15.1% during 2011-2014 and post an amount worth around US$ 2.8 Billion by 2014, says RNCOS.

NOIDA, India (prHWY.com) April 30, 2012 - RNCOS in its new research report titled, "UAE Healthcare Sector Forecast to 2014", says, that the UAE pharmaceutical market is regarded as the most lucrative market in the Middle-East region, growing at a double-digit rate over the past few years. A number of local companies are marketing their products in the competitive European markets. The growth can be accredited to a number of factors, such as increasing disposable incomes, swiftly liberal trade policies, and many more. A change in health insurance policies coupled with a growing and aging population has rendered the pharmaceutical market in the UAE almost immune to the economic downturn. These factors are anticipated to facilitate the UAE pharmaceutical market to grow at a CAGR of around 15.1% during 2011-2014 to post an amount worth around US$ 2.8 Billion by 2014.

There is a strong preference for branded drugs in the UAE against generic products. The authorities have thus responded proactively towards increasing the demand for cheaper generic products through a variety of measures, including tight restrictions on advertising of pharmaceutical products, and a ban on direct marketing to the consumer. Demand in the OTC medicines' market is also growing faster than the demand for prescription drugs. An increasing number of people are therefore, buying products through pharmacies and investors. Private companies are reacting to this demand trend by rolling out more pharmacy stores.

Further, the UAE healthcare industry is gradually turning into an attractive destination for the healthcare professionals worldwide. On the back of factors including improving financial stability of the country, and emergence of new industrial sectors, besides oil and gas, per head healthcare spending of the country has been increasing incessantly. However, the UAE is one of the leading countries for lifestyle diseases, such as diabetes, overweight and obesity, and cardiovascular diseases. Thus, propelled by these factors, the healthcare market in the UAE is projected to reach US$ 14.6 Billion by the end of 2014, growing at a CAGR of around 16.22% since 2011.

The report, which is spread in over 130 pages, provides an in-depth research and rational analysis of the current status and expected position of the healthcare industry in UAE. It facilitates future forecasts on hospital market, medical device, and pharmaceutical segments during 2011-2014. Besides, it also throws light on the potential of Healthcare industry in the Emirates of the country.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM387.htm

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Check Related REPORTS on: http://www.rncos.com/Healthcare_Industry.htm

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: uae healthcare industry

Categories: Health

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