The Middle East market for pharmaceutical manufacturing and biotechnology, already valued at over US$ 28 billion and with annual growth in double digits, looks set for even stronger growth as some of the world’s major players eye the regional market, according to the organisers of the region’s premier industry event – Pharmaceutical Manufacturing and Biotechnology Middle East (PABME).
Companies from around the world have already committed to the event, in April 27-29, 2008, during which Dubai will become the focal point of the regional and global pharmacy & biotech industry.
Although, the show is aimed at attracting the global industry, the regional pharmaceutical manufacturing industry has already gained significant investment especially into the established markets such as the Levant, North Africa and Iran, as well as the newer, rapidly evolving GCC states. An estimated 450 pharmaceutical manufacturers already operate in the Middle East, in a market valued at over US$ 18 billion and growing at more than 10 per cent per annum.
Talking of the importance of PABME 2008, Dr B R Shetty, MD & CEO of Neopharma said “This exhibition is like a shot in the arm for Middle East pharmaceutical manufacturers. Thanks to this unique gathering, companies such as Neopharma UAE now have their own exclusive platform to showcase, share and discuss the region’s world-class manufacturing prowess”. Neopharma is one of the major players in the Middle East Pharmaceutical manufacturing sector and a keen supporter of PABME event.
The regional biotechnology market is smaller (US$ 10 billion) than pharmaceutical manufacturing but is growing even faster, at 15-18 per cent per annum. The industry is attracting large amounts of private and public investment, and Dubiotech, the region’s first dedicated biotechnology research park covering 30 million square feet, is at the heart of this frenetic industry activity, which is being driven by investor friendly Governments and free zone environments. The show will be instrumental in helping exhibiting companies to find major investors to finance some of the key biotechnology research projects awaiting breakthrough for medical sciences industry worldwide.
PABME is set against a very dynamic international background as Dubai offers logistical conveniences, ideal access to global markets, stable and secure economy and an excellent multi-cultural atmosphere for companies from all over the world to flourish their businesses.
Simon Page, Director of the Healthcare Division at IIR Middle East, confirms that companies from every continent, from developed and emerging markets, have registered for PABME: “PABME will serve as the region’s only networking platform for industry players to converge, network and discuss new business alliances and joint ventures. Participants at PABME will get to meet and do business with not only the Middle East’s key decision makers but also the world’s key industry figures. Alongside the exhibition, the show will be running Conference that will focus on key issues ranging from intellectual property rights through to outsourcing and contract manufacturing/research. The event will be a global destination for the Pharma and Biotech industry and an opportunity not to be missed.”
