Prescription and Patented Drugs Are Expected to Remain the Dominant Products in the...

Prescription and Patented Drugs Are Expected to Remain the Dominant Products in the Oman Pharmaceuticals Market

DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/reports/c86154) has announced the
addition of Oman Pharmaceuticals & Healthcare Report Q1 2008 to their
offering.

The Oman Pharmaceuticals and Healthcare Report provides
independent forecasts and competitive intelligence on Oman's
pharmaceuticals and healthcare industry.

Oman is regarded as having one of the most efficient healthcare
systems in the Middle East & Africa (MEA) region as well as globally,
with a recent study by the World Health Organization (WHO) placing the
country best in terms of outcome. Consequently, the growth of the
pharmaceutical market is ensured in the short to medium term,
supported by excellent healthcare facilities, which are continuing to
receive attention from foreign investors. The exclusion of expatriate
workers from public healthcare schemes and the increased demand for
medical tourism,- supporting further development of the private
healthcare market in the country - will further stimulate the sector.

However, despite the recent improvements in Oman's intellectual
property (IP) environment, as a result of the signing of the Oman-US
free trade agreement (FTA), some issues remain in regards to approval
of medicines. The registration of products on the Omani market is only
possible after they have been on sale for at least two years on the
source market, resulting in unwelcome delays. Nevertheless, the rising
demand for novel and hi-tech treatments will act as a counterweight to
this obstacle, with a number of multinationals likely to launch their
products locally after the end of the period specified by the
registration legislation. In regional terms, the author's revised Q108
Business Environment Rankings for the Middle East & Africa region
places Oman in joint eighth place, alongside Jordan.

Overall, prescription and patented drugs are expected to remain
the dominant products within the overall market, at 97% and 92% of the
total value, respectively. Their position will be retained by an
affluent population, modernisation of healthcare facilities and the
development of the private sector. On the other hand, cost-containment
policies promoted by the government will encourage the development of
the over-the-counter (OTC) and generics sectors.. The government is
presently considering the introduction of a faster generics approval
process for Indian-made products, which are increasingly present in
the Gulf Cooperation Council (GCC) states.

Some investment in local manufacturing facilities can also be
expected, as companies recognise the rising regional demand for
generics. Oman Pharmaceutical Products Company (OPPC) is attempting to
exploit this avenue by offering contract manufacturing to
multinationals. In addition, the US-based Ascent Medical Technology
Fund II is creating a joint venture with Salalah Medical Supplies
Manufacturing Company (SMSMCo), with the aim of opening a medical
manufacturing centre to supply exports.

Companies Mentioned:

- Bayer

- GlaxoSmithKline

- Johnson & Johnson

- Merck & Co

- National Pharmaceutical Industries (NPI)

- Novartis

- Oman Pharmaceutical Products Co (OPPC)

- Pfizer

- Sanofi-Aventis

For more information visit
here

Source: Business Monitor International

Research and Markets
Laura Wood, Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com

Copyright Business Wire 2008