Research and Markets (http://www.researchandmarkets.com/research/26a7c7/egypt_pharmaceutic)
has announced the addition of the "Egypt
Pharmaceuticals and Healthcare Report Q1 2010" report to their
offering.
“Egypt
Pharmaceuticals and Healthcare Report Q1 2010”
In the Q110 Business Environment Ratings table for the 17 countries in
the Middle East and Africa (MEA) region, Egypt has retained 9th position
in the matrix above Morocco and Iran, but below Jordan and Oman. Key
drawbacks of the Egyptian pharmaceuticals and healthcare market include
low per-capita spending on drugs, as well as poor drug pricing and
reimbursement conditions. Public sector health expenditure reached a
value of EGP19.2bn (US$3.5bn) in 2008, accounting for 41.7% of total
health expenditure.
The analyst calculates Egypt's pharmaceutical expenditure to have been
EGP12.7bn (US$2.34n) in 2008. We expect drug expenditure to reach a
value of EGP13.8bn (US$2.47bn) in 2009. By 2014, we expect the total
amount spent on prescription and over-the-counter (OTC) medicines to
have reached EGP19.6bn (US$4.3bn), equating to a 2009-2014 CAGR of 7.3%
in local currency terms and 11.5% in US dollar terms. As part of BMI's
forecasting development initiative, we have extended the forecast period
for our Drug Expenditure Forecast Model from 5 years to 10 years. The
10-year forecast model projects that Egyptian drug expenditure will
reach a value of EGP27.6bn (US$6.0bn) by 2019, representing a 2009-2019
CAGR of 7.2% in local currency terms and 9.3% in US dollar terms. As a
proportion of GDP, drug expenditure is expected to decline over the 10
years, from 1.30% in 2009 to 1.20% by 2014, and to 1.14% by 2019. The
drop-off is anticipated due to stringent cost-containment measures by
the government, including a greater use of generic medicines and strict
price controls.
Despite the government's focus on cost-containment, BMI calculates that
the its contribution to the country's healthcare sector as a proportion
of the total health expenditure is set to increase over the 2009- 2014
forecast period. In 2009, government spending on health expenditure is
expected to reach EGP20.7bn (US$3.7bn), accounting for 43.6% of total
health expenditure. By 2014, it is expected that the government's
contribution to healthcare will increase to 47.2% of total health
expenditure, reaching EGP27.6bn (US$6.0bn) - a 2009-2014 CAGR of 5.9% in
local currency terms and 10.1% in US dollar terms. BMI welcomes the
increasing government investment in Egypt's healthcare sector, as
according to our Burden of Disease Database (BoDD) the number of
disability-adjusted life years (DALYs) lost to disease is set to
increase.