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Pharma Domain Iraq SWOT & PESTLE Analysis

ID : 52639353| Apr 2020| 15 pages

COMPANY PROFILE -Pharma Domain Iraq

Business Sector :Pharmaceutical

Operating Geography :Iraq, Middle East

About Pharma Domain Iraq :

The healthcare sector in Iraq is undergoing progressive development. Each year the Government of Iraq (GOI) spends 5-7% of its GDP on the Health Sector. However, Iraq healthcare sector is significantly lagging behind MENA region. Given the current state of healthcare sector in Iraq and the significant projected economic growth, healthcare sector in Iraq is expected to grow significantly. Among the different segments of healthcare, pharmaceuticals market in Iraq is expected to grow significantly

Pharma Domain Iraq Revenue :

Competitive Analysis of Pharma Domain Iraq

SWOT
PESTLE
The SWOT analysis for Pharma Domain Iraq is presented below:
Strengths
Weaknesses
1. World’s fourth largest proven crude oil reserves
2. Investment in Iraq's pharmaceutical sector by neighboring countries
1. Low government spending on healthcare
2. Lack of sufficient capabilities and expert staff in MoH
Opportunities
Threats
1. Growth potential of the healthcare system in Iraq
2. Iraq pharmaceuticals market to continue its healthy growth till 2020
3. Opportunity for local manufacturing of pharmaceutical products
1. Private pharmaceutical market out of state control
2. Wars, sanctions and turmoil damaging the country’s healthcare sector
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Detailed SWOT Analysis of Pharma Domain Iraq

 

Strength

1. World’s fourth largest proven crude oil reserves: Iraq’s growth is highly dependent upon its vast crude oil reserves. The projected growth for 2020 which is expected to be around 5.1% is expected to see a fall in 2021 to around 2.7%due to uncertainties regarding the renewal of the OPEC+ agreement as well as because oil prices are expected to see a fall in upcoming years. However, as non-oil sectors are expected to grow at a steady pace, the pharma sector is likely to see positive growth as long as sufficient investments continue to come in and help build the country’s damaged infrastructure.

2. Investment in Iraq's pharmaceutical sector by neighboring countries: Iraq’s pharma sector is likely to see positive growth if neighboring countries put in investments into the country’s pharma sector. The government of Iran has plans underway to set up several joint alliances with the country’s private and semi-governmental sector. Iran already has a strong pharmaceutical industry with over 97% of its medical needs being manufactured locally. It additionally also has around 66 medical science universities located all over the country. Iran is thus well equipped to assist Iraq in developing its health and treatment infrastructure. A new pharmaceutical deal signed in 2019 will result in Lebanon importing greater amounts of locally manufactured medicines to Iraq

Weakness

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Opportunity

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Threat

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References used in Pharma Domain Iraq Analysis Report

1. Healthcare Resource Guide: Iraq 2018: https://build.export.gov/main/industry/health/healthcareresourceguide/eg_main_116238

2. Iraq is pumping record oil, creating a ‘fully-blown migraine’ for OPEC’s cutting plans: https://www.cnbc.com/2019/09/06/iraq-is-pumping-record-oil-disrupting-opecs-production-cutting-plans.html

3. Iran seeking joint investment in Iraq's pharmaceutical sector: http://www.iran-daily.com/News/251818.html

4. Lebanon: Lebanon signs pharmaceutical deal with Iraq: https://www.laingbuissonnews.com/healthcare-markets-international-content/lebanon-lebanon-signs-pharmaceutical-deal-with-iraq/

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SWOT & PESTLE.com (2020). Pharma Domain Iraq SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/pharma-domain-iraq/ [Accessed 06 Apr, 2020].

In-text: (SWOT & PESTLE.com, 2020)

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Pharma Domain - Iraq SWOT and PESTLE analysis has been conducted and reviewed by senior analysts from Barakaat Consulting.

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Pharma Domain Iraq SWOT & PESTLE Analysis
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