The Pharmaceutical Market: Iraq

OVERVIEW OF THE PHARMACEUTICAL MARKET IN IRAQ

Years of underinvestment have taken their toll on the Iraqi healthcare market, as have international sanctions and deterioration of healthcare infrastructure due to war. Still an unpopular figure on the international market, Iraq\'s trade partners are few and far between - although Iraq does have a strong bargaining chip: its oil resources. Healthcare facilities are gradually improving, with plans for new hospitals such as two specialist hospitals planned in partnership with Iran\'sRed Crescent organisation. But access to funding is limited, import and exports are restricted, and the country has a severe shortage of trained medical professionals. As such, it is of little surprise that there are few distinctions in the market between OTC and prescription drugs, and counterfeit medicines are rife.

Headline Expenditure Projections

  • Pharmaceuticals : IQD1,239bn (US$1.06mn) in 2011 to IQD1,476bn (US$1.26bn) in 2012; +19.1% in local currency and +19.0% in US dollar terms. Forecast broadly unchanged from Q 4 12.
  • Healthcare: IQD9,439bn (US$8.07bn) in 2011 to IQD11,532bn (US$9.86bn) in 2012; +22.1% in local currency and +22.1% in US dollar terms. Forecast broadly unchanged from Q4 12.
  • Medical devices: IQD407.35bn (US$348mn) in 2011 to IQD483.89bn (US$414mn) in 2012; +18.8% in local currency and +18.7% US dollar terms. Forecast broadly unchanged from Q 4 12.

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Risk/Reward Rating

In our latest Pharmaceuticals Risk/Reward Ratings (RRRs), Iraq was 13th out of the 30 markets surveyed in the Middle East and Africa (MEA) region, the same ranking as Q412. The country\'s composite score was stable at 46.7 out of the maximum 100 points. However, 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.

Competitive Landscape

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

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Table of Contents

BMI Industry View7
SWOT9
Political11
Economic12
Business Environment13
Industry Forecast14
Pharmaceutical Market Forecast14
Table: Pharmaceutical Sales Indicators 2009-201715
Healthcare Market Forecast16
Table: Healthcare Expenditure Indicators 2009-201718
Table: Healthcare Governmental Indicators 2009-201719
Table: Healthcare Private Indicators 2009-201719
Economic Analysis20
Private Consumption Outlook21
Fixed Investment Outlook22

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