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Abu Dhabi / Emirates Business
The importance of the regional pharmaceutical market will be discussed at the global pharmaceutical event CPhI Middle East and Africa, when it returns to Adnec in September, as the UAE’s pharmaceutical market is expected to increase in value to $4.5 billion by 2021.
The event will tackle growing trend to import majority of pharma products to region and how local manufacturing can help meet growing demand.
Cara Turner, Brand Director – Pharma, UBM EMEA, the organisers of the event. Said, “In 2016, UAE pharmaceutical market was worth $3.17 billion, however in last three years we have seen a compound annual growth rate (CAGR) of 7.5% with the forecast value in 2021 expected to be in the region of $4.54 billion, above the global CAGR of 5.8%.