Rapid Growth MENA Region Provides Opportunity for Businesses to Develop their Cold Chain Service Offerings
As the market develops and the global demand for biopharmaceuticals rises, more companies will likely look to expand into the MENA area, bringing with it the need for greater cold chain provision in the pharmaceutical industry.
Despite the turbulent environment in some countries in recent months, the region's pharmaceutical markets continue to present a strong attraction to the industry
In a recent press release for the 3rd Annual Cold Chain MENA Summit, event chairman Andre N. Verdier, President of the Executive Committee Supply Chain and Logistics Group in the U.A.E., said "The rapid growing economies in the GCC give a vast amount of opportunity for businesses to develop their cold chain service offerings while clients seek improvement performance, cold chain integrity as well as on their cash flow and bottom line."
End-to-end solutions prove particularly useful in emerging markets like those in North Africa, where cold chain provision has not yet reached the same level as that in more established markets.
Insulin is one of the key products which require temperature controlled storage, and the Middle East is one of the regions with the greatest prevalence of diabetes in the world.
According to figures published in a study by United Health Group, by 2020 it is estimated 32 % of the adult population in the United Arab Emirates will have diabetes or pre-diabetes and many cases currently remain undiagnosed.
According to the 2nd edition of Pharmaceutical Commerce’s Bio/Pharma Cold Chain Sourcebook, by 2015, the global market for cold chain packaging and transportation is expected to hit $8.7 billion. The Middle East must ensure it replicates the successful steps it has already taken and continues to tighten its policies to capture its potential share of this market – both as a pharmaceutical industry destination in its own right and as a gateway to the huge markets in Asia.
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