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Saudi Arabia Pharmaceutical Market By Drug Type (Generic Drugs and Branded Drugs), By Product Type (Prescription Drugs and Over-The-Counter Drugs), By Application (Cardiovascular, Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder, Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By Region, Competition, Forecast and Opportunities, 2019-2029F


Saudi Arabia Pharmaceutical Market was valued at USD 9.01 Billion in 2023 and is expected to reach USD 13.99 Billion by 2029 with a CAGR of 7.57% during the forecast period. The Saudi Arabia pharma... もっと見る

 

 

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2024年8月2日 US$3,500
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80 英語

 

Summary

Saudi Arabia Pharmaceutical Market was valued at USD 9.01 Billion in 2023 and is expected to reach USD 13.99 Billion by 2029 with a CAGR of 7.57% during the forecast period. The Saudi Arabia pharmaceutical market is being driven by several key factors. Increasing healthcare expenditure, driven by Vision 2030's emphasis on enhancing healthcare infrastructure and services, is a major contributor. The rising prevalence of chronic diseases such as diabetes and cardiovascular conditions fuels demand for advanced pharmaceuticals. The push for local pharmaceutical manufacturing and innovation, in alignment with the National Strategy for Industry, is fostering market growth. Investments in research and development, coupled with government initiatives to improve healthcare accessibility, further boost the market. The growth of medical tourism and the expansion of retail and online pharmaceutical channels also play significant roles in driving the sector's development.
Key Market Drivers
Government Initiatives and Vision 2030
The Saudi government's Vision 2030 plan is a pivotal force behind the growth of the Kingdom's pharmaceutical market. This strategic initiative, aimed at diversifying the economy beyond oil, places a significant emphasis on enhancing healthcare and pharmaceutical sectors. Key components driving market expansion include substantial investments in healthcare infrastructure, which modernize and expand medical facilities across the country, thus boosting the demand for pharmaceutical products. The Vision also prioritizes the promotion of local pharmaceutical manufacturing to reduce reliance on imports, which strengthens the supply chain and lowers costs. Increased funding for research and development fosters innovation, positioning Saudi Arabia as a hub for medical advancements. The encouragement of public-private partnerships leverages combined resources and expertise, while streamlined regulatory reforms expedite drug approvals and enhance market access. These efforts create a robust healthcare ecosystem, attracting investment and driving the growth of the pharmaceutical market. In December 2023, Saudi Food and Drug Authority (SFDA), officially launched the Breakthrough Medicines Program at the SFDA headquarters in Riyadh. This initiative is designed to provide patients with life-threatening or severely debilitating conditions access to promising new treatments that have not yet received marketing authorization, addressing unmet medical needs. The Breakthrough Medicines Program aims to expedite the availability of specific treatments to patients in Saudi Arabia, expanding treatment options when conventional medications fail. It seeks to lower treatment costs abroad by facilitating early access to innovative medicines and accelerating their introduction to the Saudi market.
Rising Prevalence of Chronic Diseases
The increasing prevalence of chronic diseases such as diabetes, cardiovascular conditions, and cancer plays a pivotal role in driving the pharmaceutical market in Saudi Arabia. Chronic diseases are persistent and long-term health conditions that require continuous medical treatment and management. In Saudi Arabia, the rising rates of these chronic conditions are placing substantial pressure on the healthcare system, leading to a heightened demand for effective pharmaceutical interventions. Diabetes is a prime example of a chronic condition that significantly impacts the Saudi healthcare landscape. The Kingdom has one of the highest rates of diabetes globally, driven by a combination of lifestyle factors, dietary habits, and genetic predispositions. Similarly, cardiovascular diseases (CVDs), including conditions such as hypertension, coronary artery disease, and heart failure, are increasingly common in Saudi Arabia. The rise in CVD cases is attributed to factors such as high rates of obesity, sedentary lifestyles, and dietary habits high in fats and sugars. The management of cardiovascular conditions often involves a combination of lifestyle modifications and pharmaceutical interventions, such as antihypertensives, statins, and anticoagulants. The growing burden of cardiovascular diseases necessitates a steady supply of advanced medications, driving pharmaceutical companies to invest in developing new drugs and therapies to improve patient outcomes and manage these conditions effectively.
Cancer is another major chronic disease contributing to the growth of the pharmaceutical market in Saudi Arabia. The incidence of various types of cancer, including breast, prostate, and colorectal cancers, has been rising. The increasing burden of these chronic diseases not only drives demand for existing medications but also stimulates the need for innovation in drug development. Pharmaceutical companies are actively engaged in research and development activities to discover new drugs, improve existing treatments, and develop personalized medicine approaches tailored to individual patient needs. This focus on innovation is crucial for addressing the complex and evolving nature of chronic diseases.
Expansion of Healthcare Infrastructure
The expansion of healthcare infrastructure in Saudi Arabia is a significant catalyst for the growth of the pharmaceutical market. The Saudi government has made substantial investments in developing and modernizing the country's healthcare facilities, including the construction of new hospitals, clinics, and specialized medical centers. This comprehensive expansion effort is essential for improving healthcare delivery and access across the Kingdom. One of the primary benefits of this expansion is the improved accessibility of healthcare services. With the establishment of new healthcare facilities, more regions, including underserved and remote areas, are now able to receive medical attention. This increased accessibility translates into a higher demand for a diverse range of pharmaceutical products. From prescription medications to over-the-counter drugs, the need for pharmaceuticals grows as more healthcare facilities become operational and as existing facilities are upgraded to provide better services.
The development of specialized medical centers also plays a crucial role in driving pharmaceutical market growth. These centers are designed to offer advanced treatments and cater to specific medical needs, such as oncology, cardiology, and neurology. As these centers open and expand, there is a growing demand for specialized pharmaceuticals that address complex and chronic health conditions. Pharmaceutical companies see new opportunities to introduce and supply targeted therapies, contributing to market growth. The improvement and expansion of healthcare infrastructure support the integration of advanced medical technologies. Modern hospitals and clinics are equipped with the latest diagnostic and therapeutic technologies, which often require complementary pharmaceutical products. For example, the introduction of cutting-edge diagnostic tools and treatment modalities increases the demand for associated pharmaceuticals, such as those used in conjunction with imaging procedures or advanced surgical techniques.
Increased Healthcare Expenditure
Rising healthcare expenditure in Saudi Arabia is a pivotal factor propelling the pharmaceutical market forward. The Saudi government's commitment to enhancing healthcare services is evident through its increased funding across several key areas: health programs, medical research, and the procurement of pharmaceutical products. This growing investment is transforming the healthcare landscape, significantly impacting the pharmaceutical sector. Increased healthcare expenditure enables the expansion and improvement of healthcare facilities, which in turn drives demand for a wide array of pharmaceutical products. As hospitals, clinics, and specialized medical centers are upgraded or newly established, there is a heightened need for medications and medical supplies. This surge in demand provides pharmaceutical companies with new market opportunities, encouraging them to expand their operations and introduce their products into the Saudi market.
The government's enhanced funding also supports the procurement of advanced pharmaceuticals and medical technologies. With a higher budget allocated to healthcare, there is a greater capacity to purchase cutting-edge drugs and treatments, including those that address complex and chronic conditions. This boost in procurement not only ensures that patients have access to the latest medications but also stimulates pharmaceutical companies to innovate and develop new products. As a result, the pharmaceutical market experiences growth driven by the introduction of advanced therapies and medications. Rising healthcare expenditure fosters an environment conducive to medical research and development. Increased investment in research facilitates the discovery of new drugs and treatment methodologies. This investment supports clinical trials, research programs, and the development of innovative healthcare technologies. The expansion of R&D activities leads to the introduction of novel pharmaceuticals to the market, further fueling growth. As pharmaceutical companies are encouraged to invest in research, they contribute to the overall advancement of the industry and the availability of cutting-edge treatments.
Key Market Challenges
One of the significant challenges facing the pharmaceutical market in Saudi Arabia is the issue of regulatory and approval delays. Despite recent efforts to streamline processes, the regulatory environment remains complex and time-consuming. The Saudi Food and Drug Authority (SFDA) is responsible for overseeing drug approvals, ensuring that new pharmaceuticals meet rigorous standards for safety and efficacy. However, the process can be lengthy, often involving multiple rounds of evaluation and documentation. This complexity can delay the market entry of new drugs, affecting pharmaceutical companies' ability to introduce innovative treatments promptly. The varying requirements for drug registration, clinical trials, and compliance with local standards can further complicate the approval process. These delays can hinder market growth and impact the availability of essential medications, ultimately affecting patient care and company revenues.
Intellectual Property and Patent Issues
Intellectual property (IP) and patent issues are critical challenges in the Saudi pharmaceutical market. Protecting patents and IP rights is essential for encouraging innovation and ensuring that pharmaceutical companies can recoup their investments in research and development. However, enforcing IP rights and patents can be complex in Saudi Arabia due to regulatory and legal challenges. Companies may encounter difficulties in protecting their patents from infringement or counterfeiting, which can undermine their competitive advantage and investment returns. The presence of counterfeit and substandard drugs in the market poses a risk to patient safety and can impact the reputation of legitimate pharmaceutical brands. To address these challenges, pharmaceutical companies must navigate the legal landscape effectively, engage with local regulatory bodies, and implement measures to safeguard their intellectual property.
Key Market Trends
Advancements in Medical Research & Development
Advancements in medical research and development (R&D) are increasingly shaping the pharmaceutical market in Saudi Arabia. The country is making substantial investments in research facilities and forging strategic partnerships with global pharmaceutical companies to catalyze innovation and the development of novel drugs and therapies. This concerted focus on R&D is crucial for addressing the evolving healthcare needs of the population and enhancing treatment options available to patients. Saudi Arabia’s commitment to advancing medical R&D is reflected in the establishment and expansion of state-of-the-art research centers across the Kingdom. These facilities are equipped with cutting-edge technology and resources, enabling researchers to conduct high-quality studies and clinical trials. The growth of these centers not only boosts the capabilities for developing new medications but also attracts international researchers and pharmaceutical companies to collaborate on innovative projects. This influx of expertise and investment further accelerates the development of new therapies and drugs, contributing to the overall growth of the pharmaceutical market.
Collaborations with global pharmaceutical companies play a significant role in Saudi Arabia’s R&D landscape. By partnering with established international firms, Saudi Arabia gains access to advanced technologies, knowledge, and best practices in drug development. These partnerships often involve joint research projects, technology transfers, and clinical trials conducted within the Kingdom. Such collaborations enhance the local pharmaceutical industry’s ability to develop and commercialize new treatments and technologies, positioning Saudi Arabia as a key player in the global pharmaceutical market. The focus on R&D also aligns with the Saudi Vision 2030, which emphasizes the diversification of the economy and the enhancement of the healthcare sector. As part of this vision, the government has been promoting initiatives that support innovation in medical research and development. This includes funding for research projects, support for startup biotech companies, and incentives for private sector investment in R&D activities. By aligning R&D efforts with national strategic goals, Saudi Arabia is not only addressing immediate healthcare needs but also ensuring long-term growth and sustainability in the pharmaceutical industry.
Growing Pharmaceutical Manufacturing Sector
The growth of the pharmaceutical manufacturing sector in Saudi Arabia is a pivotal driver of the pharmaceutical market's expansion. The Kingdom's strategic focus on localizing pharmaceutical production is aimed at reducing its reliance on imported medications and achieving greater self-sufficiency. This initiative is part of a broader national strategy to enhance the resilience and sustainability of the healthcare system while fostering economic growth. The Saudi government has introduced a range of measures to bolster domestic pharmaceutical manufacturing. These measures include financial incentives for local companies, regulatory support to streamline the approval process, and substantial investments in state-of-the-art manufacturing facilities. By creating a favorable environment for pharmaceutical manufacturers, the government is encouraging both local and international companies to establish or expand their production capabilities within the Kingdom. In June 2022, Astellas Pharma officially inaugurated its new Scientific and Technical Office in Riyadh. This opening underscores Astellas’ enduring commitment to the Kingdom and reflects its dedication to advancing technology to enhance patient care and support the local healthcare system. The establishment of this office is part of Astellas’ broader strategy to provide innovative medicines and treatments, reinforcing its role in serving the needs of patients and communities in Saudi Arabia.
One of the primary objectives of this localization effort is to reduce the dependency on imported drugs. Historically, Saudi Arabia has relied heavily on pharmaceutical imports to meet the needs of its population. By increasing local production, the Kingdom aims to mitigate supply chain vulnerabilities, enhance drug availability, and ensure a more stable and reliable supply of essential medications. This reduction in import dependence is particularly crucial in addressing the challenges posed by global supply chain disruptions and fluctuating international drug prices. Supportive measures for domestic pharmaceutical manufacturing include a range of incentives such as tax breaks, subsidies, and funding for research and development. These incentives lower the barriers to entry for new companies and support the growth of existing ones. The government has established frameworks to facilitate the construction and operation of modern manufacturing facilities, ensuring that they meet international standards for quality and safety. This infrastructure development is critical for enhancing the capacity and capabilities of local pharmaceutical producers.
Segmental Insights
Drug Type Insights
Based on the Drug Type, generic drugs dominate over branded drugs, driven by several key factors. The cost-effectiveness of generics is a major contributor to their dominance. Generics are priced significantly lower than branded medications, making them a more affordable option for both the government and patients. This is particularly important in a country where managing healthcare costs is a priority due to the rising prevalence of chronic diseases and expanding healthcare infrastructure. Government policies and regulations also play a critical role, as Saudi Arabia has implemented measures to promote generics through price controls and incentives for local production. These initiatives are part of the Vision 2030 strategy, which aims to enhance healthcare affordability and accessibility.
Local pharmaceutical manufacturing has further bolstered the dominance of generics. The government’s efforts to increase domestic production capacity have led to greater availability of generics, reducing reliance on imports and fostering competition within the industry. This not only meets the growing demand for medications but also contributes to lower drug costs and improved accessibility for patients. The rising prevalence of chronic diseases such as diabetes and cardiovascular conditions drives the need for cost-effective treatment options, reinforcing the preference for generics. Patient preferences and increasing awareness of the benefits of generics have also contributed to their dominance. As patients become more informed about the efficacy and safety of generics, they are more likely to choose these alternatives when prescribed. The competitive dynamics of the pharmaceutical market further support the prominence of generics, as the introduction of generics stimulates competition among pharmaceutical companies, leading to lower prices and better quality medications.
Application Insights
Based on the Application, cardiovascular drugs are the leading therapeutic segment, surpassing other categories such as musculoskeletal, oncology, anti-infective, and metabolic disorder treatments. Several factors contribute to the dominance of cardiovascular medications in this market. The high prevalence of cardiovascular diseases in Saudi Arabia drives the demand for related pharmaceutical products. Cardiovascular conditions, including hypertension, coronary artery disease, and heart failure, are among the most common health issues in the Kingdom. This is exacerbated by risk factors such as high rates of obesity, diabetes, and sedentary lifestyles. As these conditions continue to impact a significant portion of the population, there is an increasing need for effective cardiovascular treatments, including antihypertensives, statins, and anticoagulants. The growing burden of these diseases stimulates high demand for cardiovascular drugs, making them a dominant segment in the pharmaceutical market.
Government health initiatives and public awareness campaigns further support the prominence of cardiovascular medications. The Saudi government’s focus on addressing non-communicable diseases through various health programs and initiatives aligns with the need for effective cardiovascular treatments. National health strategies and public health campaigns emphasize the importance of managing cardiovascular risk factors, leading to increased screening and treatment of cardiovascular conditions. This heightened focus on cardiovascular health directly drives the demand for related pharmaceuticals. Economic factors also play a role in the dominance of cardiovascular drugs. Cardiovascular diseases often require long-term management and adherence to medication regimens, resulting in a steady and sustained demand for these drugs. The pharmaceutical market benefits from this ongoing demand, as cardiovascular medications are frequently prescribed and used over extended periods. This creates a stable revenue stream for pharmaceutical companies and reinforces the significance of cardiovascular drugs in the market.
Regional Insights
In the Saudi Arabia pharmaceutical market, the Eastern Region stands out as the dominant area, significantly influencing the sector's dynamics. This prominence can be attributed to several key factors that position the Eastern Region at the forefront of pharmaceutical activities in the Kingdom. The Eastern Region is home to major economic hubs and industrial centers, including the city of Dhahran and the industrial city of Jubail. These areas host numerous large-scale industries and enterprises, contributing to the region's economic strength. The presence of key players in the oil and gas sector, as well as other major industries, supports a robust healthcare infrastructure and a substantial market for pharmaceuticals. This economic vitality translates into increased investment in healthcare services and pharmaceutical products, driving the market’s growth in the region.
The Eastern Region also boasts advanced healthcare facilities and institutions. Major hospitals and medical centers, such as the King Fahd Specialist Hospital and the Royal Commission Hospital, are located in this region. These facilities offer comprehensive medical services and are equipped with state-of-the-art technology, enhancing their capacity to provide high-quality care and meet the growing demand for pharmaceutical products. The region's well-established healthcare infrastructure supports the efficient distribution and accessibility of medications, further solidifying its dominance in the pharmaceutical market. The Eastern Region's strategic geographic location plays a crucial role in its market leadership. The region's proximity to major ports, such as the Port of Dammam, facilitates the import and export of pharmaceutical products. This logistical advantage enables efficient supply chain management and distribution, ensuring that pharmaceutical products are readily available to meet local and regional demand. The ease of access to international markets also supports the region's role as a central hub for pharmaceutical trade and operations.
Key Market Players
• Novartis Saudi Arabia
• Pfizer Saudi Limited Corporate
• Glenmark Saudi Arabia
• Tabuk Pharmaceuticals Manufacturing Co.
• Jamjoom Pharmaceuticals Co
• GSK Saudi Arabia
• AstraZeneca Saudi Arabia
• Sitco Pharma Co
• CAD Middle East Pharmaceutical Industries LLC
• Sudair Pharmaceutical Company
Report Scope:
In this report, the Saudi Arabia Pharmaceutical Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Saudi Arabia Pharmaceutical Market, By Drug Type:
o Generic Drugs
o Branded Drugs
• Saudi Arabia Pharmaceutical Market, By Product Type:
o Prescription Drugs
o Over-The-Counter Drugs
• Saudi Arabia Pharmaceutical Market, By Application:
o Cardiovascular
o Musculoskeletal
o Oncology
o Anti-infective
o Metabolic Disorder
o Others
• Saudi Arabia Pharmaceutical Market, By Distribution Channel:
o Retail Pharmacy
o Hospital Pharmacy
o E-Pharmacy
• Saudi Arabia Pharmaceutical Market, By Region:
o Western Region
o Central Region
o Southern Region
o Eastern Region
o Northern Region
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Pharmaceutical Market.
Available Customizations:
Saudi Arabia Pharmaceutical Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).

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Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Saudi Arabia Pharmaceutical Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Drug Type (Generic Drugs and Branded Drugs)
5.2.2. By Product Type (Prescription Drugs and Over-The-Counter Drugs)
5.2.3. By Application (Cardiovascular, Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder, Others)
5.2.4. By Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy)
5.2.5. By Region
5.2.6. By Company (2023)
5.3. Market Map
6. Western Saudi Arabia Pharmaceutical Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Drug Type
6.2.2. By Product Type
6.2.3. By Application
6.2.4. By Distribution Channel
7. Central Saudi Arabia Pharmaceutical Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Drug Type
7.2.2. By Product Type
7.2.3. By Application
7.2.4. By Distribution Channel
8. Southern Saudi Arabia Pharmaceutical Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Drug Type
8.2.2. By Product Type
8.2.3. By Application
8.2.4. By Distribution Channel
9. Eastern Saudi Arabia Pharmaceutical Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Drug Type
9.2.2. By Product Type
9.2.3. By Application
9.2.4. By Distribution Channel
10. Northern Saudi Arabia Pharmaceutical Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Drug Type
10.2.2. By Product Type
10.2.3. By Application
10.2.4. By Distribution Channel
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments
13. Policy & Regulatory Landscape
14. Saudi Arabia Economic Profile
15. Saudi Arabia Pharmaceutical Market: SWOT Analysis
16. Porter’s Five Forces Analysis
16.1. Competition in the Industry
16.2. Potential of New Entrants
16.3. Power of Suppliers
16.4. Power of Customers
16.5. Threat of Substitute Products
17. Competitive Landscape
17.1. Novartis Saudi Arabia
17.1.1. Business Overview
17.1.2. Company Snapshot
17.1.3. Products & Services
17.1.4. Financials (As Reported)
17.1.5. Recent Developments
17.1.6. Key Personnel Details
17.1.7. SWOT Analysis
17.2. Pfizer Saudi Limited Corporate
17.3. Glenmark Saudi Arabia
17.4. Tabuk Pharmaceuticals Manufacturing Co.
17.5. Jamjoom Pharmaceuticals Co
17.6. GSK Saudi Arabia
17.7. AstraZeneca Saudi Arabia
17.8. Sitco Pharma Co
17.9. CAD Middle East Pharmaceutical Industries LLC
17.10. Sudair Pharmaceutical Company
18. Strategic Recommendations
19. About Us & Disclaimer

 

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