(MENAFNEditorial)
The Omani government is placing an increasing emphasis on the healthcare sector demonstrated by a large increase in funding for the 2015 national budget . M uch of this investment is allocated to building state-of-the-art healthcare infrastructure in an attempt to promote the medical tourism industry. We highlight continuing commercial opportunities in the Omani pharmaceutical market for multinational drugmakers due to the high penetration of patented medicines lack of local competition and the development of the private healthcare sector.
Headline Expenditure Projections
* Pharmaceuticals: OMR187mn (USD487mn) in 2013 to OMR200mn (USD518mn) in 2014; 6.6% in local currency and US dollar terms. Forecast broadly in line with Q414.
* Healthcare: OMR831mn (USD2.16bn) in 2013 to OMR891mn (USD2.31bn) in 2014; +7.2% in local currency and US dollar terms. Forecast unchanged from Q414.
Risk/Reward Index
Oman has limited longer-term commercial potential due to its small population and the fact that the government is responsible for the bulk of healthcare costs which will increase the need for cost containment in the coming years. In Q115 Oman's Pharmaceutical Risk/Reward Index (RRI) scores 49.3 out of 100 which has seen the country maintain its position in 10th place in the Middle East and Africa matrix out of 31 countries.
Full Report Details at
- http://www.fastmr.com/prod/966791_oman_pharmaceuticals_healthcare_report_q2_2015.aspx?afid=101
Key Trends And Developments
* The Burjeel Medical Centre was inaugurated in Muscat in October 2014 offering speciality treatment services including internal and family medicine paediatrics obstetrics and gynaecology ophthalmology general surgery dental medicine orthopaedics cardiology ENT and dermatology.
* A visiting Indian business delegation of hospitals healthcare institutes and pharmaceutical companies visited Muscat in September 2014 with the view to expanding into Oman's healthcare sector.
* In September 2014 it was announced that the Ministry of Health in Oman will support private sector hospitals to upgrade...
The Oman Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports focusing on the growth outlook for the prescription OTC patented drugs and generics market segments.
BMI's Oman Pharmaceuticals & Healthcare Report provides industry professionals strategists company executives investors analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Oman pharmaceutical and healthcare industry.
Key Benefits
* Benchmark BMI's pharmaceutical and healthcare market forecasts for Oman to test other views - a key input for successful budgeting and strategic business planning in the Omani pharmaceutical and healthcare market.
* Target business opportunities and risks in the Omani pharmaceutical and healthcare sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Oman.
* Assess the activities strategy and market position of your competitors using our company profiles (including SWOTs KPIs and latest activity) and competitive landscape tables.
Coverage
BMI Industry ViewAn at-a-glance perspective on the latest regulatory developments key forecast indicators and major corporate developments covering the prescription OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis and taken together with BMI’s political economic and business environment SWOTs it gives a complete overview of market climate.
BMI Industry Forecast ScenarioIndustry forecasts to end-2019 for all key indicators supported by explicit assumptions plus analysis of key downside risks to the main forecasts:
* Healthcare: Total healthcare expenditure (USDbn) healthcare expenditure (% of GDP) healthcare expenditure per capita (USD) hospital beds doctors and birth & mortality rates (all per ‘000 population).
* Pharmaceutical Market: Drug expenditure in USDbn % of GDP and per capita (USD).
* Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
* Generic Drug Market: Generic product sales (USDbn) generic sales (% of total sales).
* OTC Drug Market: OTC sales (USDbn & % of total sales).
* Macroeconomic Forecasts: Nominal and real GDP % real GDP growth % private consumption growth % industrial output growth % consumer price index % GDP price deflator exports imports trade balance current account balance foreign direct investment exchange rate against USD government expenditure and external debt.
BMI’s Pharmaceuticals and Healthcare Risk Reward IndexBMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry economic and demographic data points to provide indices of highest to lowest appeal to investors with each position explained.
Market SummaryA snapshot of key market characteristics including total size of the pharmaceuticals and healthcare segments growth drivers leading therapeutic areas and the competitive landscape
Industry DevelopmentsA focus on government healthcare reforms epidemiological trends mergers and acquisitions product launches market entries FDI activity R&D biotechnology clinical trials and supply chain issues.
Regulatory RegimeDetails of the industry regulatory framework and key legislation covering the licensing of new products/services pricing and reimbursements intellectual property taxation and advertising as well as analysis of the overall regulatory burden.
Competitive LandscapeThe competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector as well as the OTC generics and distribution sub-sectors.
Company Profiles*
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