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The Middle East and North Africa (MENA) is an economically diverse region, with population of 345 million people. MENA includes both the oil-rich economies in the Gulf and countries that are resource-scarce in relation to population, such as Egypt, Morocco, and Yemen. Per capita health expenditure also varies depending upon resources of the countries, with oil rich nations of GCC have some of the highest per capita health expenditure compares to develop nations of Europe & US. The region’s economic fortunes over much of the past quarter century have been heavily influenced by two factors – the price of oil and the legacy of economic policies and structures that had emphasized a leading role for the state. Today the MENA market represents 2% of global pharmaceutical sales.
The MENA Region includes: Algeria, Bahrain, Egypt, Iran, Iraq, Palestine, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates and Yemen. According to BMI combined retail pharmaceutical market of MENA is worth $22.0 Billion in 2010, which is growing at compound annual growth rate of 7.5% and will reach $33.2 Billion in 2020. Today the MENA market represents 1.5-2% of global pharmaceutical sales. According to IMS-Healthcare the MENA market will continue to grow by 9-11% over the next five years in line with Asia and Latin America.
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