2008-10-17 10:01:03 -
Lebanon Pharmaceuticals and Healthcare Report Q3 2008 - a new market research report on http://www.companiesandmarkets.com
www.companiesandmarkets.com/Summary-Market-Report/Lebanon-Pharma ..
Lebanons drug market was estimated to be worth LBP712bn (US$472mn) in 2007. BMI forecasts slow growth, averaging 3.5% year-on-year over the forecast period, with the market reaching just LBP845bn (US$560mn) by the end of 2012. Per capita drug expenditure is relatively high for the countrys level of economic development. In 2007, per capita expenditure on prescription and over-the-counter (OTC) medicines came to an estimated US$132 on a par with richer nations in the Middle East. Indeed, relative to GDP, Lebanon continues to devote a high proportion of GDP to pharmaceuticals, largely as a consequence of strong demand for more expensive, patented drugs. Political instability is likely to continue to hold back development in a healthcare system that has been
severely damaged by conflict. Indeed, only 8% of the population benefit from government-run healthcare.
Most patients access healthcare through hospitals, supporting prescription drug sales, which were estimated to account for 90% of the drug market in 2007. Meanwhile, generic substitution is likely to become an increasing trend over the forecast period, which will place further limits on drug market growth. BMI expects that, by value, generics will increase from an estimated 19.9% of the market in 2007 to reach 21.6% of the market by 2012. However, most of these drugs are likely to arrive as imports, as quality concerns continue to affect the domestic pharmaceutical manufacturing industry. In BMIs updated Business Environment Ratings for Q308, Lebanon is placed 10th out of 13 Middle East and Africa (MEA) markets surveyed. Its small, pharmaceutical market, which is forecast to grow relatively slowly over the next five years, offers limited attraction to drugmakers. Having said this, the countrys structure is considered conductive to pharmaceutical market growth thanks to a fast-growing and highly urbanised population, which boosts access to medicine and should simplify the supply chain.
