Growing Demand Tunes in Health Trade Boom between India & Bahrain

India & Bahrain look forward to boom in health trade amid a GCC-wide increase in demand for pharmaceuticals and medical devices. India Ambassador to the Kingdom of Bahrain, Piyush Srivastava said during a webinar, “India’s position as the pharmacy of the world can be further strengthened through new Gulf partnerships”.

India has a good presence in the pharmaceutical and homeopathy sectors in Bahrain and aspires to further collaborate by contributing to the already strong healthcare infrastructure

Various estimates state that the pharmaceutical industry across the GCC – particularly in Bahrain, Saudi Arabia and the UAE – is nearly $20 billion, and the demand is set to increase. Despite this, around 80 percent of products are imported from outside the region, creating a major opportunity for healthcare exporters like India to set up shop.

Highlighting the ‘immense opportunities’ for Bahrain as a strategic healthcare investment hub, Ambassador Piyush said, “India has a good presence in the pharmaceutical and homeopathy sectors in Bahrain and aspires to further collaborate by contributing to the already strong healthcare infrastructure. There are ample opportunities and a conducive environment for setting up manufacturing units locally in joint ventures or the public-private partnership model.”

The Bahrain government is highly focused on healthcare, which is driving the demand for new medical services & technologies. In line with its Vision 2030, the Kingdom is focused on becoming a leading centre for modern medicine, offering high-quality and financially sustainable care for patients throughout the GCC region. However, there remains a significant gap for specialized healthcare provision in fields such as haematology, genetic disorders, rehabilitation, diabetes management and more.

Tala Fakhro, Executive Director, Market & Strategy Intelligence at Bahrain EDB said, “Healthcare has long been a critical focus area for Bahrain’s government, which has ambitions of making Bahrain a leading centre for modern medicine. The region’s population, which has a clear unmet need in many disease areas, is growing fast, and Bahrain offers global pharmaceutical and medical device manufacturers unparalleled access to this rapidly developing market.”