Iraq Pharmaceuticals & Healthcare Report Q2 2014
The projected growth of Iraq's pharmaceutical market in 2014 and 2015 is linked to an oil-driven economic expansion, which is dependent on the government's ability to represent and appease the country's factions. Given the government's expansionary fiscal policy, spending on education, health and public services will be elevated over the coming quarters. In particular, Baghdad will seek to modernise healthcare provision, in a view to improve support to its rule. Nevertheless, there are numerous factors hampering market growth. Corruption aside, counterfeit, out-dated and substandard drugs are present in the market, particularly the Kurdistan region. This is a major concern as patients purchase drugs - often at high prices - believing that they are genuine, when a lack of trained healthcare personal, absence of government quality checks and controls, and the powerful influence of illegal factories means that this is not the case.