A report by the Dubai Chamber of Commerce and Industry estimated the volume of UAE imports of pharmaceutical products at AED 14.9 billion in 2018.
The report added, according to the Federal Customs Authority, that the list of countries from which these products were imported included: Germany, the United States, France and Switzerland, pointing out that companies in the UAE exported AED 1.2 billion worth of pharmaceutical products, and re-exported the value of 3.8 AED billion during the same year.
Industry Stages
The global market for pharmaceutical products consists of activities related to the development, production and marketing of medicines and related products, including vitamins and supplements, the report said.
He pointed out that the first phase of the pharmaceutical value chain includes the manufacture of medicines consisting of preliminary research, development and legal approval. The second stage consists of transporting medicines from the manufacturer to the retailers. The third phase consists of retail opportunities in the sale of medicines, vitamins and supplements to end consumers, taking into account the needs of patients.
The report said that the growing population and rising income levels have led to increased demand for pharmaceutical products in the UAE and around the world, and scientific advances have led to the manufacture of medicines to treat new diseases.
Health supervision
The Dubai Chamber report estimated the value of the pharmaceutical market sales in the UAE in 2018 at $ 3.1 billion (AED 11.4 billion), up from about $ 2.4 billion in 2015, compared to 82% of pharmaceutical sales in 2018. Medicines sold as prescriptions.
According to the report, the main export destinations included Saudi Arabia and Iraq, while re-export destinations included Kuwait, Iraq and Bahrain, pointing out that pharmaceutical and health care products are located in the Emirate of Dubai under the supervision of the Ministry of Health and Community Protection and the Health Authority in Dubai. Relation to all biological and composite products that collect therapeutic and diagnostic products, including medicines, devices and biological products. There is also legislation requiring persons in the pharmaceutical profession to obtain a valid license. UAE companies are involved in the manufacturing of pharmaceutical products, such as the production of medicines at the Dubai Science Park, which includes cardiovascular drugs, neuropsychiatric therapies and gastrointestinal diseases. There are also local companies involved in the manufacture of equivalent drugs.
medical equipments
The report said that the growth in the use of wearable medical devices and mobile devices resulted in the growth in the use of mobile health applications and devices, which collect data that can be analyzed by health practitioners, to provide a comprehensive assessment of the patient's health, and thus provide medical advice. Therefore, UAE companies can explore product innovation opportunities in these markets to increase exports and sales.
He pointed out that the market of pharmaceutical products locally and globally has grown, with an increase in demand coincided with scientific progress, resulting in the development of new drugs and more useful for patients.
Market opportunities
Growth in the supply and demand side of the market coincided with a development in niche markets that witnessed relatively rapid growth. These markets include halal pharmaceutical products, mobile health applications, and orphan medicines, offering potential opportunities within the pharmaceutical value chain, with the potential for some companies to In developing these types of medicines.
Other companies could benefit from local distribution and the sale of newly developed drugs in the UAE market. Other potential opportunities include exporting, re-exporting and distributing these drugs and specialized medical services to markets across Asia and Africa.
International exports
Global exports of pharmaceutical products totaled $ 587 billion in 2018.Dubai's main exporting countries include Germany, Switzerland, Ireland and the United States. The main import markets were the United States, Germany, Belgium, the United Kingdom, and Switzerland.
Sales of prescription drugs (excluding equivalent drugs and orphans used to treat rare diseases) were estimated at $ 587 billion.
The increase in sales was estimated at a cumulative annual growth rate of 0.3% between 2014 and 2018. The growth rate of orphan medicines was estimated at 9% over the same time period.
Halal medicines
Dubai Chamber report confirmed demand for halal medicines. According to the World Islamic Economy Situation Report 2018/19, global spending by Muslims on pharmaceutical products was estimated at $ 87 billion in 2017. There are also prospects for the emergence of specialties in the multivitamin segment and halal-certified supplements.