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Saudi Arabia Pharmaceuticals Market – Insights

Saudi Arabia pharmaceuticals market includes medicinal products sold as patented/prescription and OTC products for various ailments in hospital and retail pharmacies. Patented products are available as branded drugs and generic drugs include both branded generics and non-branded ones.

Statistics:

Saudi Arabia pharmaceuticals market is estimated to account for US$ 13,391.2 Mn in terms of value by the end of 2027.

Saudi Arabia Pharmaceuticals Market: Drivers

Rapid reforms in the healthcare sector in Saudi Arabia are expected to propel growth of Saudi Arabia pharmaceuticals market. For instance, through Vision 2030, the government of Saudi Arabia plans for localization of the pharmaceutical industry by encouraging foreign pharmaceutical manufacturers to establish plants in Saudi Arabia through public-private partnerships and joint ventures with national entities.

Moreover, increasing healthcare expenditure is also expected to aid in growth of the market. For instance, according to Saudi Arabia government data, healthcare and social development expenditure reached US$ 45.9 billion in 2019.

Prescription Products held dominant position in Saudi Arabia pharmaceuticals market in 2019, accounting for 71.7% share in terms of value.

Figure 1. Saudi Arabia Pharmaceuticals Market Share (%), by Product Type, 2019

Saudi Arabia Pharmaceuticals  | Coherent Market Insights

Saudi Arabia Pharmaceuticals Market: Restraints

High reliance on imports is expected to hinder growth of the market. Saudi Arabia is mostly dependent on imports for its pharmaceutical requirements. For instance, according to International Trade Administration’s updated report on exports in October 2019, Saudi Arabia accounts for 59.4% of the purchases of pharmaceutical products in the Gulf.

Moreover, high investment required in manufacturing of halal pharmaceuticals is also expected to limit growth of the market.

Saudi Arabia Pharmaceuticals Market: Opportunities

Improvement in Ease of Doing Business (EODB) score is expected to offer lucrative growth opportunities to players in the market. For instance, according to annual ranking by the World Bank, Saudi Arabia improved its 2019 EODB score by 1.62% from 2018 to rank 92nd among 190 economies.

Moreover, increasing prevalence of lifestyle diseases is also expected to aid in growth of the market. For instance, the study, ‘Rising incidence of obesity in Saudi residents. A threatening challenge for the surgeons’, published in the International Journal of Health Sciences, in January 2018, reported obesity in 42% of the study population with low physical activity levels and unhealthy dietary habits.

Saudi Arabia Pharmaceuticals  | Coherent Market Insights

Market Trends/Key Takeaways

Increasing population is a major organic growth factor for the pharmaceuticals market in Saudi Arabia. For instance, according to World Bank, the population in Saudi Arabia reached 33.6 million in 2018 from 27.4 million in 2010.

Decreasing number of expatriates is expected to lead to strain on labor force in the pharmaceutical sector. For instance, according to Jadwa Investments’, a capital market company’ September 2019 report, over 1.9 million expatriates left Saudi Arabia since the start of 2017 and 132,000 are estimated to have left the labour market during 2Q 2019.

Value Chain Analysis –

Saudi Arabia Pharmaceuticals  | Coherent Market Insights

Saudi Arabia Pharmaceuticals  | Coherent Market Insights

Saudi Arabia Pharmaceuticals Market: Competitive Landscape

Major players operating in Saudi Arabia pharmaceuticals market include, SPIMACO, Tabuk Pharmaceuticals Manufacturing Co., Julphar, Jamjoom Pharma, GlaxoSmithKline plc., Pfizer Inc., Novartis AG, and Sanofi.

Saudi Arabia Pharmaceuticals Market: Key Developments

Major players in the market are focused on partnering with educational institutes for R&D of drugs. For instance, in December 2018, SPIMACO and King Saud University signed a memorandum of understanding in the fields of drug development and training of graduates of the Faculty of Pharmacy.

Players in the market are focused adopting partnership strategies to expand their presence in Saudi Arabia. For instance, in February 2020, Grifols, a Spain-based pharmaceutical company and the Public Investment Fund of Saudi Arabia announced a deal to build a network of plasma collection centers and other facilities for the production of plasma medicines in Saudi Arabia.

Pharmaceuticals market constitutes of medicinal products sold as patented/prescription and OTC products. There are two types of pharmaceutical products namely; prescription products and OTC. Increasing healthcare expenditure is also expected to aid in growth of the market. Moreover, increasing prevalence of lifestyle diseases along with increasing investment in halal pharmaceuticals in Saudi Arabia is also expected to aid in growth of the market. Major market players and several local and international companies are collaborating with local generic manufacturers.

Key features of the study:

  • This report provides in-depth analysis of the Pharmaceutical market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the Saudi Arabia Pharmaceutical market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, SPIMACO, Tabuk Pharmaceuticals Manufacturing Co., Julphar, Jamjoom Pharma, GlaxoSmithKline plc. , Pfizer Inc., Novartis AG, and Sanofi.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The Saudi Arabia Pharmaceutical market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Saudi Arabia Pharmaceutical market

Detailed Segmentation:

  • Pharmaceutical Market, By Product Type:
    • Prescription Products
      • Branded or Patented Drugs
      • Generic Drugs
    • OTC
  • Pharmaceutical Market, By Indication
    • Cardiovascular Diseases
    • Diabetes
    • Cancer
    • Obesity
    • Infectious Diseases
    • Others
  • Pharmaceutical Market, By Distribution Channel
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • Company Profiles
    • SPIMACO *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Tabuk Pharmaceuticals Manufacturing Co.
    • Julphar
    • Jamjoom Pharma
    • GlaxoSmithKline plc.
    • Pfizer Inc.
    • Novartis AG
    • Sanofi
  • *” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Shape
      • Market Snippets, By Application
      • Market Snippets, By End User
      • Market Snippet, By Region
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. Saudi Arabia Pharmaceuticals Market, By Product Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Prescription Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Branded or Patented Drugs
        • Generic Drugs
    • OTC
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. Saudi Arabia Pharmaceuticals Market, By Indication, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Cardiovascular Diseases
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Diabetes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cancer
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Obesity
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Infectious Disease
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Saudi Arabia Pharmaceuticals Market, By Distribution Channel, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Hospitals Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Retail Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Online Pharmacies
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. Competitive Landscape
    • Company Profiles
      • SPIMACO
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Tabuk Pharmaceuticals Manufacturing Co.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Julphar
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Jamjoom Pharma
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • GlaxoSmithKline plc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Pfizer Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Novartis AG
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Sanofi
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 12 market data tables and 8 figures on “Pharmaceutical Market – Saudi Arabia forecast to 2027”.

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