The pharmaceutical sector in Egypt is one of the oldest strategic sectors in the country, founded in 1939 with the establishment of the Misr Company for Pharmaceutical Industries. The Egyptian pharmaceuticals and cosmetics sector is considered the largest in the region with regards to growth capacity and expansion during the coming five years compared to similar sectors in neighboring countries. The Egyptian pharmaceutical industry has enjoyed a period of considerable development in recent years. Egypt has emerged as a leading exporter of pharmaceuticals to Arab, Asian and Eastern European markets. The Egyptian pharmaceutical market at retail prices is expected to rise by a double-digit CAGR in US dollar terms between 2011 and 2016. It has been estimated that the market increased by five times between 1995 and 2010. Production is expected to rise as the healthcare system continues its transition towards modernization; Egypt is becoming a very attractive market for multinational pharmaceutical companies focused on emerging markets.
The local industry currently produces EGP 3 billion (US$500 million) worth of pharmaceuticals per year. Official statistics peg the value of domestic pharmaceutical consumption in Egypt at EGP 3.5 billion (US$ 575 million) per year. The expanding Egyptian pharmaceutical sector currently consists of 50 firms and factories, including 7 manufacturing enterprises, 4 distribution companies and 34 private investment corporations. With 9 multinationals and 19 indigenous companies, Egypt is the leading producer and consumer of pharmaceuticals in the region. In addition, the nation boasts 70 scientific offices to distribute pharmaceuticals.
Pharmaceutical and life sciences industries present unique challenges as development in technology and innovations require transformations in the way products/services are offered. This gets more complicated when shifts in demographic and economic factors are taken into consideration. At Crowe Horwath Dr. A. M. Hegazy & Co. we know these complexities and offer professional services to businesses of all sizes- from start-up pharmaceutical companies to multinational business enterprises. We have years of experience working with organizations across the pharmaceutical industry. From proprietary & generic drug manufacturers to medical equipment suppliers to research organizations, we offer tailor made solutions to issues faced by each and every industry vertical.
We understand the dynamics of relationships that exist between the manufacturers, agents, customers and the end consumers of the industry. We believe that delivering feasible solutions depend much on these invisible factors and always use our understanding to help companies attain their business goals.