Bahrain, India seek boom in healthcare trade as pharma demand grows

Bahrain, India seek boom in healthcare trade as pharma demand grows

Bahrain and India are set for a boom in healthcare trade amid a GCC-wide increase in demand for pharmaceuticals and medical devices.

Speaking at a webinar highlighting opportunities between the two countries, ambassador Piyush Srivastava said India's position as the "pharmacy of the world" can be further strengthened through new Gulf partnerships.

Current estimates suggest that the pharmaceutical industry across the GCC – particularly in Bahrain, Saudi Arabia and the UAE – is worth $20 billion with demand set to increase.

Yet as many as 80 percent of products are imported from outside the region, creating a major opportunity for healthcare exporters like India – the world's largest provider of generic drugs – to set up shop.

Highlighting the “immense opportunities” for Bahrain as a strategic healthcare investment hub, Srivastava said: “India has a good presence in the pharmaceutical and homoeopathy sectors in Bahrain and aspires to further collaborate by contributing to the already strong healthcare infrastructure.

Covid-19 has led to around 8 million fewer patient contacts per week in the region, hampering profitability for many operators

“There are ample opportunities and a conducive environment for setting up manufacturing units locally in joint ventures or the public-private partnership model.”

With a rapidly growing population driving demand for