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MENA Biologics & Biosimilars Market, by Product Type (Influenza Vaccines, Factor VIII, (Xyntha, Octanate, Kovaltry, Advate, Koate, Adynovate, Kogenate, Hemlibra, Elocta, Recombinate, Feiba, Immunate, Alphanate and Novoeight), Erythropoietin (Epoetin Alfa (Binocrit(2000IU and 4000IU) (Eprex (2000IU and 4000IU) Darbepoietin Alfa (Aranesp) and Epoetin Alfa-epbx (Retacrit, Recormon)), Aflibercept (EYLEA), and Ziv-Aflibercept (ZALTRAP)), by Therapeutic Application (Hemophilia, Age-related Macular Degeneration, Kidney Diseases, Influenza, and Others), and by Region/Country (Gulf and Egypt), is estimated to be valued at US$ 442.5 million in 2020 and is expected to exhibit a CAGR of 3.9% during the forecast period (2020-2027), as highlighted in a news report published by Coherent Market Insights.

In the recent past, several novel biopharmaceutical products have been approved by major regulatory bodies such as Ministry of health and major players in the market have launched various novel and innovative biopharmaceutical products. Rapid approvals and launches of novel products in the market is expected to drive growth of the MENA biologics & biosimilars market.

For instance, in 2016, Baxalta Incorporated produced ADYNOVATE, an antihemophilic recombinant factor indicated for the patients above 12 years suffering from Hemophilia A. It is available in Kuwait, Saudi Arabia, and other 65 countries, globally.

In 2016, the Ministry of Health in Kuwait approved efmoroctocog alfa (Elocta), a recombinant human factor VIII Fc-fusion protein for the treatment of hemophilia A.

MENA Biologics & Biosimilars Market - Impact of Coronavirus (Covid-19) Pandemic

The coronavirus (COVID 19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. Private healthcare sector is one of the sectors, which is majorly impacted by the COVID 19 pandemic. Saudi Arabia Government, multinational pharmaceutical companies, and local manufacturers are implementing various strategies to help the residents of Saudi Arabia during this COVID-19 pandemic.

For instance, in April 2020, Saudi Arabia's National Unified Procurement Company (NUPCO) and a Chinese company ‘Huo-yan Laboratories’-COVID-19 testing labs developed by Chinese genomics BGI Group, signed a cooperation agreement in Riyadh to build six major laboratories including a mobile laboratory to increase the country's coronavirus testing capacity. After finishing, the laboratories would boost local coronavirus testing capacity to 50,000 people per day and provide 9 million testing kits.

In April 2020, the Ministry of Health (MOH) of Saudi Arabia announced in a webinar with the Healthcare Information and Management Systems Society (HIMSS) that the country is looking forward for collaborations between countries, as this is the key factor for dealing with COVID-19 pandemic in the Kingdom of Saudi Arabia (KSA).

In March 2020, the government of Kingdom of Saudi Arabia (KSA) allocated US$ 675 million funds for the Strategic Preparedness and Response Plan. The total money is allocated for research, with global bodies releasing emergency funding for R&D to better understand COVID-19 and fast track the development of vaccines, diagnostics, and therapeutics.

Browse 15 Market Data Tables and 41 Figures spread through 192 Pages and in-depth TOC on MENA Biologics & Biosimilars Market, by Product Type (Influenza Vaccines, Factor VIII, (Xyntha, Octanate, Kovaltry, Advate, Koate, Adynovate, Kogenate, Hemlibra, Elocta, Recombinate, Feiba, Immunate, Alphanate and Novoeight), Erythropoietin (Epoetin Alfa (Binocrit(2000IU and 4000IU) (Eprex (2000IU and 4000IU) Darbepoietin Alfa (Aranesp) and Epoetin Alfa-epbx (Retacrit, Recormon)), Aflibercept (EYLEA), and Ziv-Aflibercept (ZALTRAP)), by Therapeutic Application (Hemophilia, Age-related Macular Degeneration, Kidney Diseases, Influenza, and Others), and by Region/Country (Gulf and Egypt)- Forecast to 2027"

To know the latest trends and insights related to MENA biologics & biosimilars market, click the link below:

https://www.coherentmarketinsights.com/market-insight/mena-biologics-and-biosimilars-market-4393

Key Takeaways of the MENA Biologics & Biosimilars Market:

  • The MENA biologics & biosimilars market is expected to exhibit a CAGR of 3.9% during the forecast period (2020-2027), owing to increasing approvals and launches of novel products
  • Among product type, the influenza vaccines segment is expected to hold a major revenue share in 2027, owing to focus on adopting inorganic growth strategies among key players such as agreement for establishment of vaccines facility. For instance, in 2017, Vacsera (Egyvet), an Egyptian company for veterinary drugs and vaccines, signed a contract with Fabtech Technologies to establish the first vaccines facility for avian flu in Cairo, Egypt.
  • Major players operating in the MENA biologics & biosimilars market include F. Hoffmann-la Roche Ag, Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Amgen, Inc., Sanofi S.A., and Takeda Pharmaceutical Company Limited
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