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MENA pharmaceutical sector witnessed a tremendous growth over the last few years and is expected to reach $60 billion by 2025


The pharmaceutical sector in the Middle East and North Africa (Mena) has observed a enormous growth over the last few years and is expected to reach around $60 billion by 2025.

The pharma sector growth is largely charged by high population growth, augmented life expectancy coupled with the generality of lifestyle-related diseases such as diabetes, and aspiration for excellent healthcare services among countries in the region.

With governments in the region focusing more and more on the well being of a growing population and strengthening healthcare services, timely and safe delivery of medical supplies and pharmaceuticals, particularly temperature controlled products has become essential for the sector.

The UAE is leading the growth with over $1.2 billion funnelled into the healthcare system in the 2019 budget, and ranked up with more support with considerable funds allotted in the $540 million innovation fund by HH Sheikh Mohammed bin Rashid Al Maktoum Fund.

With the recent approval of Dubai Silk Road Strategy and existing outstanding logistics infrastructure, the UAE is fast turning into a source market, which is manufacturing and exporting pharmaceuticals to high-demand markets such as Africa and Asia. Escalated drug-registration system, investments in R&D, innovation, and technological advancement, has led to a rise in the number of international pharmaceutical companies from 30 in 2013 to 47 in 2016, and is expected to reach 75 in 2020.

Around 95 per cent of the global pharmaceutical companies have a base in the UAE, which gives them organized access to 43 countries worldwide.

The congress will focus on challenges faced by pharmaceutical companies in the Mena with the globalisation of the pharmaceutical supply chain requiring them to maintain ever-changing regulations and compliance for temperature-sensitive products. It will also discuss Good Distribution Practices and varying regulations across different countries.

The congress is co-organised by Saudi Pharmaceutical Society and Maarefah Management and supported by leading pharmaceutical companies including Global Pharma, LisaLine, Zaklady Farmaceutyczne UNIA Sp?ldzielnia Pracy, Polish Investment and Trade Agency, and Technical Supplies & Services Co.

It will scour into strategies including regulatory compliance, integrating cold chain management, selecting the suitable partners, maintaining supply chain integrity, achieving real-time traceability and more.


Source : newzmart
Posted on :4/10/2019