During the Pharmaconex Exhibit held in Cairo’s International Exhibition Centre, Hany Khafagy, General Manager at Informa Markets, announced that Egypt’s pharmaceutical market has been projected to be the highest-valued in the Middle East and North Africa (MENA) region by 2023, with a market value of $56.6 billion.
Khafagy also mentioned that Egypt is the MENA region’s largest producer and consumer of pharmaceuticals and exports $400 million of raw materials annually.
Informa Markets, a London-based company that connects buyers and sellers in over a dozen specialist markets, believes Egypt provides excellent pharmaceutical manufacturing investment opportunities.
This is mainly due to the country’s abundant mineral resources in drug production.
Moreover, Gamal El-Laithy, the head of the Chamber of Pharmaceutical Industry at the Egyptian Federation of Industries, stated that the government is actively seeking funding from banks to enhance pharmaceutical companies’ research and development capabilities in Egypt, further strengthening the industry’s position in the region.
