Headline Expenditure Projections
- Pharmaceuticals: IQD1,573bn (USD1.35bn) in 2013 to IQD1,772bn (USD1.52bn) in 2014; +12.6% in local currency and +12.8% in US dollar terms. Forecast unchanged from Q214.
- Healthcare: IQD9,701bn (USD8.33bn) in 2013 to IQD10,477bn (USD9.01bn) in 2014; +8.0% in local currency and +8.2% in US dollar terms. Forecast substantially lowered from Q214 due to macroeconomic conditions.
Iraq's Pharmaceutical Risk/Reward Rating (RRR) score for Q314 reflects the market's potential and its strong economic growth prospects. It performs better in terms of Rewards than Risks. In Q314 Iraq scores 41.9 out of 100, making it the 16th most attractive pharmaceutical market in the Middle East and African region. While its score has increased, the country's position is unchanged from Q214.
Key Trends And Developments
In May 2014, Zawya reported that Brazil exported pharmaceutical products worth USD15.5mn to Arab countries in 2013, citing the Arab-Brazilian Chamber of Commerce (ABCC). The top five importers were Egypt, Saudi Arabia, Sudan, Iraq and the United Arab Emirates. Brazil's...
The Iraq Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'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 Iraq Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Iraqi pharmaceutical and healthcare industry.Key Benefits
CoverageBMI Industry View & Industry SWOT
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Iraq to test other views - a key input for successful budgeting and strategic business planning in the Iraqi pharmaceutical and healthcare market.
- Target business opportunities and risks in the Iraqi pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Iraq.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.Market Summary
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.Regulatory Regime
Details 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 an analysis of the overall regulatory burden.Industry Developments
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)
Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)
Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)
Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)
OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)
Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)
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 US$, government expenditure, external debt.Competitive Landscape
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
Thanks to the government's expansionary fiscal policy, spending on education, health and public services will increase . The Iraqi government has reportedly pledged to invest USD12bn into healthcare expansions in 2014, and the Ministry of Health recently awarded 18 health project contracts worth USD276mn . In addition, n ew restrictions aim to end the chaos in which materials have entered the country in previous years , targeting control over drug policy and ensuring the supply of medicines in adequate quantities and at reasonable prices. In general, 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. Numerous factors, however, will continue to hamper market growth.