UAE Eyes $1.1 Billion In Drug Spending This year, Termed A Paltry Sum
This article was originally published in PharmAsia News
Executive Summary
The United Arab Emirates is expected to spend $1.1 billion on drugs this year, a 20% increase over a year ago to pay for healthcare investments and an expanding population.
The United Arab Emirates is expected to spend $1.1 billion on drugs this year, a 20% increase over a year ago to pay for healthcare investments and an expanding population. The Middle East and North Africa consumes about $9 billion worth of drugs, according to the Dubai Biotechnology and Research Park. The figure represents only about 1.5% of the global market, a result of a failure of Arab governments to make heavy investments in healthcare, according to Marwan Abdul Aziz Janahi, head of the Sciences Cluster at Tecom Investments. The drug market in the Middle East is valued at more than $12 billion, with an expected growth of as much as 15%, according to Dubiotech estimates. (Click here for more
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