Pharmaceuticals Market in Bahrain
The State of Bahrain consumes $35 million worth of pharmaceuticals annually, Akhbar Al-Khaleej newspaper reported. The majority of these pharmaceuticals are imported from abroad, while the balance is manufactured by the sole Bahrain Pharmaceutical Company, Bida-Pharm.
Chairman of the Board of the Bahrain Pharmaceuticals Company (Bida-Pharm), Mr. Issa Boursheed, announced that the company's manufacturing capacity totals $5 million. Nevertheless, the company's actual production fails to surpass $500,000 due to the fierce competition from foreign manufacturers. Mr. Boursheed added that foreign enterprises control up to 90% of the domestic pharmaceuticals consumption in the State of Bahrain. Bida-Pharm Company has registered its products in Qatar, Kuwait, the UAE, Saudi Arabia, Iraq, Jordan and Oman.
Arabian Gulf states consume $1.5 billion worth of pharmaceuticals per annum. Approximately, 80% of these pharmaceuticals are imported from abroad. Consequently, local pharmaceutical manufacturers satiate no more than 20% of domestic consumption. Mr. Boursheed emphasized that the Gulf pharmaceutical manufacturers are only able to meet domestic consumption levels by merging capabilities and resources.
A rapidly growing population in the Arab World is expected to boost pharmaceutical consumption in the future. Experts believe that this will necessitate the strengthening and expansion of local manufacturing capabilities. Statistics indicated that the pharmaceuticals consumption in the Arab World tripled over the past three decades. The number of the operating pharmaceuticals factories in the Gulf States boomed from 30 to 200 during the same period. (albawaba.com news agency)
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