The pharmaceutical sector in Jordan grows at a rate of 25% per year.5 The demand for pharmaceuticals, medical devices, and medical supplies evolves with the increasing demand for new hospitals, medical centers, and healthcare facilities. The pharmaceutical industry in Jordan has positively contributed to the adjustment of the trade balance of Jordan. Due to its high quality and reputation, 80% of pharmaceutical production is exported to more than 70 countries.6 The pharmaceutical sub-sector of Jordan’s healthcare sector harbors promising investment opportunities as it is a significant contribution to the growth seen in the overall Healthcare sector. Prospects include the manufacturing and production of human medicine, pharmaceutical drugs from medicinal plants, and medical supplies. Jordan’s existing medical and therapeutic industries comprises more than 100 domestic factories, generating about 8,000 employment opportunities, covering all administrative and technical levels. Jordan has become a center for Good Manufacturing Practices (GMP) in the MENA region and expanded its pharmaceutical exports to more than 60 countries worldwide, including the Gulf, the US and Europe, all due to their high quality, excellent reputation and affordable prices. The Jordanian medical device market is projected to grow at an above-average rate of 9.3% per annum, the size of the pharmaceutical market in Jordan is estimated at $ 1.3 billion.7 The pharmaceutical sector in Jordan has benefited from the growth in MENA economies (mainly the Gulf countries) in recent years and is expected to do so in the near future, henceforth resulting in an increased government spending on the healthcare sector. Indeed, one of the main drivers for growth in Jordan’s healthcare sector includes the continuing high-volume of medical export activity generated by the country’s domestic drug manufacturers.
Ireland is one of the leading locations for the pharmaceutical industry in Europe and the world. For a country of just 4.5 million people, Ireland punches well above its weight and is undoubtedly a world player in pharmaceutical production.
The pharmaceutical industry in Ireland comprises a mix of international and local companies. Approximately 120 overseas companies have plants in Ireland including 9 of the 10 largest pharmaceutical companies in the world.
The pharmaceutical industry is relatively new to the Irish economy. Most of the companies operating in this area have only had a presence in Ireland since the 1960s. Originally the industry was largely involved in producing active ingredients in bulk for export to other countries to be processed into finished products (tablets, capsules etc.). Subsequently, plants were set up to produce the finished products here. In recent years a number of companies have also set up research centres and have become involved in joint research projects with Irish universities.
The pharmaceutical industry in Ireland is highly advanced, incorporating the latest technology, state of the art equipment and strict quality control procedures. Ireland’s pharmaceutical industry offers a wide range of products and services, from research and development for new medicines to the manufacturing and marketing of new medicines for humans and animals.
Ireland is now the largest net exporter of pharmaceuticals in the EU accounting for over 50% of all exports from the country.
In JIBA, we will work towards identifying opportunities in cooperation and scientific collaborations between Jordan and Irish Pharma companies.