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UAE pharma market may grow 17% annually

12 Sep 2010

(MENAFN) A new report has indicated that UAEï¿½s pharmaceutical industry is expected to grow by approximately 17 percent during 2010 ï¿½ 2013, on the back of a growing population, liberal trade policies and adaptation to international healthcare standards.

According to a report published by Emirates Business, the medical devices industry is also expected to grow substantially, driven by strong investments.

The report attributes the optimism in the medical industry to the increasing awareness about healthcare amongst people. The future of the industry, according to the report is pleasantly buoyant.

Last month, Business Monitor International (BMI) forecast that the UAE pharmaceutical market will grow 14.9 percent to $1.59 billion this year from last yearï¿½s total of $1.38 billion.

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