United Arab Emirates’ health care market among strongest in Middle East
The United Arab Emirates (UAE) is second only to Saudi Arabia in terms of pharmaceutical investment in Middle East countries, with the creation of tax-exempt drug development zones helping to ensure excellent growth prospects.
According to a new report form research and consulting firm GlobalData, medical tourism, straightforward regulatory guidelines and increasing health care expenditure will also be key factors driving the UAE’s pharmaceutical market, which Kulkarni forecasts to be worth $3.7 billion by 2020.
Joshua Owide, GlobalData’s director of health care industry dynamics, states that the UAE is benefiting from the establishment of health-related free zones, such as the Dubai Biotechnology and Research Park (DuBiotech), which have encouraged global pharmaceutical players to set up regional centers in the country.
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