The pharmaceutical sector in the Middle East and North Africa (Mena) has witnessed tremendous growth over the last few years and is projected to reach around $60 billion by 2025, according to studies
With governments in the region focusing more and more on the wellbeing of a growing population and enhancing healthcare services, timely and safe delivery of medical supplies and pharmaceuticals, especially temperature controlled products has become a vital for the sector
The ongoing and future challenges and solutions in the industry will be discussed at the Middle East Pharma Cold Chain Congress, an important platform for the pharmaceutical industry in Mena, to be held on March 19 to 21, at Millennium Airport Hotel in Dubai, UAE
According to studies, the pharma sector growth is largely fuelled by high population growth, increased life expectancy coupled with the prevalence of lifestyle-related diseases such as diabetes, and aspiration for excellent healthcare services among countries in the region
The UAE is leading the growth with over $1.2 billion funnelled into the healthcare system in the 2019 budget, and topped up with more support with substantial funds allotted in the $540 million innovation fund by HH Sheikh Mohammed bin Rashid Al Maktoum Fund
With the recent approval of Dubai Silk Road Strategy and existing outstanding logistics infrastructure, the UAE is fast turning into a source market, which is manufacturing and exporting pharmaceuticals to high-demand markets such as Africa and Asia
Accelerated drug-registration system, investments in R&D, innovation, and technological advancement, has led to a rise in the number of international pharmaceutical companies from 30 in 2013 to 47 in 2016, and is expected to reach 75 in 2020
Moreover, around 95 per cent of the global pharmaceutical companies have a base in the UAE, which gives them logistics access to 43 countries worldwide
The congress will focus on challenges faced by pharmaceutical companies in the Mena with the globalisation of the pharmaceutical supply chain requiring them to maintain ever-changing regulations and compliance for temperature-sensitive products
It will also discuss Good Distribution Practices and varying regulations across different countries
It will delve into strategies including regulatory compliance, integrating cold chain management, selecting the appropriate partners, maintaining supply chain integrity, achieving real-time traceability and more
The congress is co-organised by Saudi Pharmaceutical Society and Maarefah Management and supported by leading pharmaceutical companies including Global Pharma, LisaLine, Zaklady Farmaceutyczne UNIA Sp?ldzielnia Pracy, Polish Investment and Trade Agency, and Technical Supplies & Services Co
– TradeArabia News Service
Copyright 2019 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
