UAE – Mubasher: The Abu Dhabi National Exhibition Centre (ADNEC) will host the global pharmaceutical event CPhI Middle East and Africa (MEA) from 16 to 18 September 2019 to tackle the importance of the regional pharmaceutical market.

This comes as the UAE’s pharmaceutical market is likely to increase in value to $4.5 billion by 2021, according to a press release.

The CPhI MEA will discuss the accelerating trend of importing a majority of pharmaceutical products to the region and meeting the growing demand by local manufacturing of these products.

A potential decrease in planned investment in the industry, as well as a growth in population, is expected to weigh on the supply trend, CPhI MEA said.

Cara Turner, brand director of Pharma and UBM EMEA - the organisers of the event, said: “In 2016, the UAE pharmaceutical market was worth $3.17 billion however in the last three years we have seen a Compound Annual Growth Rate (CAGR) of 7.5% with the forecasted value in 2021 expected to be in the region of $4.54 billion, above the global CAGR of 5.8%.”

“Putting that figure into perspective, the US was spending over $1,000 by 2015, according to research by the Commonwealth Fund. The UK, France, Germany, and Switzerland were all spending in excess of $500 per capita,” Turner highlighted.

The CPhI MEA, the region’s leading platform, is expected to attract over 4,900 participants, including over 50% of which will come from the MEA region.

The three-day event is projected to welcome over 294 local, regional, and international exhibitors from more than 35 countries.