(Part of the full ‘State of the Global Islamic Economy Report 2013‘)
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Driven by need for ‘Halal’ ingredients in medicine, major global pharmaceutical companies Merck, Pfizer and GlaxoSmithKline are already engaged in Halal certification of their medicines marketed to Muslims globally.
This Report estimates global Muslim spending on pharmaceuticals to be $70 billion in 2012. This expenditure is expected to grow to $97 billion by 2018 representing 7% of global pharmaceutical expenditure. Top countries with Muslim consumer’s pharmaceutical expenditure are: Turkey ($10.4 billion), Saudi Arabia ($5.2 billion), Indonesia ($5 billion), Iran ($3.7 billion), United States ($3.6 billion) and Algeria ($3.1 billion).
Additionally, for Pharmaceuticals sector, the Report covers:
- Key challenges & specific opportunities
- Convergence opportunities among Islamic economy sectors
- Innovation Imperative
- Industry Interviews
- Centers of the Islamic Economy
- Strategy Frameworks & Checklists