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FINANCIAL NEWS
UAE Pharma exports USD108m in 2010
24 Aug 2011
(MENAFN) Dubai Chamber of Commerce and Industry said that UAE’s pharmaceutical exports rose by 300 percent since 2003 from USD27 million to USD108 million in 2010, while imports rose by 275 percent since 2003 from USD217 million to USD816 million in 2010, reported Emirates247.
The Dubai Chamber also said that the UAE pharmaceutical market is one of the most developed markets in the Middle East, with a strong healthcare infrastructure and the highest per-capita medicine expenditure in the Middle East.
The Chamber stated that the UAE has a relatively strong patented drug market, the country’s traditional wealth and its preference for latest medicines as well as the rise of the local manufacturing industry over the past few years with its strong emphasis on regional and global exports.
It is worth noting that increasing incomes and awareness lead to an increase in personal care. The rise in medical device sales that monitor health in connection to pharmaceutical products is also another area of potential growth.
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