Morocco, Poland and Vietnam earmarked for pharma growth by Procorre
Professional services consultancy Procorre has identified Morocco, Poland and Vietnam as growth hotspots for ambitious businesses and specialist consultants in the pharma sector in the next six months.
Procorre, which works with clients to manage the life cycle of pharmaceutical projects across the globe, has seen enquiries for pharma project support steadily grow this year from a number of emerging markets in Africa, Eastern Europe and Asia. Procorre is expecting activity to increase further towards the end of 2016 and into 2017.
James Alexander, director of global mobility at Procorre, said, “While the growth of the pharma sector in the emerging markets is being driven by the usual suspects that make up the BRIC countries (Brazil, Russia, India and China), we are seeing an increasing number of requests to support pharma projects in less obvious markets which already have an established pharma industry.”
The common themes in the development of these pharma markets centre around rapid population growth, a burgeoning ‘middle-class’ and healthcare reforms, underpinned by investment in their domestic pharma industries.
Procorre’s analysis of the market has identified the following growth hotspots:
- Morocco - The Moroccan government has highlighted pharma as one of the industries that will boost its economy as part of its Industrial Acceleration Plan. The plan sets out measures to develop Morocco’s pharma industrial base and export capabilities by forming partnerships with other African nations. This will help the country to become a pharma hub for companies keen to serve Africa with the creation of a direct export platform to reach the rest of the continent.
- Poland - There are a range of legal changes on the horizon in Poland where specialist pharmaceutical and healthcare experience could be in demand. These include a planned programme of free drugs and medical devices for persons aged over 75 years; a mandatory vaccination against pneumococcal disease; and the launch of Poland’s National Plan for Rare Diseases.
- Vietnam - Figures from BMI Research show the Vietnamese pharma market is expected to grow from US$4.2bn to $7.2 billion by 2020. However, there are some hurdles to overcome for the sector where experience and expertise will be at a premium. These include regulatory issues, such as inadequate intellectual property regimes and the underlying problem of corruption among healthcare officials. There is also a significant variation in pricing across the country which needs to be tackled to create a more stable market.
Alexander added, “With Big Pharma companies like Novartis, Sanofi and Astra Zeneca all investing in emerging markets through acquisition or local partnerships, we are seeing an increasing need for specialist consultants and project teams who can apply best practice from other markets to create consistently high standards. As well as medical and scientific roles, there is a demand for expertise in supporting roles including legal, technical and financial posts.”
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