New Market Report: Iraq Pharmaceuticals & Healthcare Report Q3 2012

New Healthcare research report from Business Monitor International is now available from Fast Market Research

by Bill Thompson

(WireNews+Co) - Boston, MA - 18 October 2012

BMI View: The improvements in Iraq's business environment are manifested by the improved flow of information though the Ministry of Health and state pharmaceutical purchasing facility Kimadia's respective websites. However, data and information coming out of the country for the most part remain unreliable and this adds to the feeling that although Iraq has great promise for the future as its recovery is propelled by oil revenues, it remains highly unstable and very risky for drugmakers to invest directly in the country.

Headline Expenditure Projections

- Pharmaceuticals: IQD1,239bn (US$1.06mn) in 2011 to IQD1,483bn (US$1.27bn) in 2012; +19.6% in local currency and +19.5% in US dollar terms. Historic data and forecast up from Q212 due to new macroeconomic and import data.
- Healthcare: IQD10,173bn (US$8.07bn) in 2011 to IQD12,396bn (US$10.60bn) in 2012; +21.9% in local currency and +21.7% in US dollar terms. Growth forecast up slightly from Q212 due to new macroeconomic data.
- Medical devices: IQD407.35bn (US$348mn) in 2011 to IQD484.07bn (US$414mn) in 2012; +19.1% in local currency and +19.0% US dollar terms. Forecast up slightly from Q212.

View Full Report Details and Table of Contents (http://www.fastmr.com/prod/451295_iraq_pharmaceuticals_healthcare_report_q3_2012.aspx) (http://www.fastmr.com/prod/451295_iraq_pharmaceuticals_healthcare_report_q3_2012.aspx)

Risk/Reward Rating: In our latest Pharmaceuticals Risk/Reward Ratings (RRRs), Iraq is unchanged in 14th place out of the 30 markets surveyed in the Middle East and Africa (MEA) region. The country's composite score, however, is unchanged quarter-on-quarter (q-o-q) at 45.2 out of 100, propped up by a reasonably attractive rewards profile. That said, Iraq's risks remain high due to the country's political and security instability, which will continue to pose significant downward risks to our forecasts.

Key Trends And Developments

- One positive recent development has been an increase in transparency in Kimadia's pharmaceutical tenders. BMI has noticed that the company now provides lists for 2010 and 2011 of the drugs that they purchased and the suppliers that provided the medicines through its website. Improved communication and transparency by Kimadia, as well as the Ministry of Health's news feed has improved the business environment in Iraq by improving the flow of information.
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