Saudi Arabia Pharmaceutical Market to Grow at a CAGR of 9% through 2026.

Future Market Insights has announced the addition of the “Saudi Arabia Pharmaceutical Market: Global Industry Analysis and Opportunity Assessment, 2016-2026"report to their offering.


Saudi Arabia pharmaceutical market expected to maintain strong growth momentum owing to rapidly growing population coupled with strong influx of expatriates into the country. Saudi Arabia pharmaceutical market is dominated by branded drugs of various multinational companies, which are sold under second brand name in alliance with local companies and distributors. Saudi Arabia imports 80% of drugs from various countries, and the market in the country is dominated by several multinational companies. Increasing lifestyle diseases and strong brand loyalty for multinational drugs in Saudi Arabia are factors expected to drive demand for pharmaceuticals over the forecast period. Furthermore, increasing per capita income, growing healthcare infrastructure and increasing penetration of health insurance companies in the country is fuelling growth of the pharmaceuticals market in Saudi Arabia.

Market Value and Forecast

Saudi Arabia pharmaceutical market is estimated to be valued at US$ 5,209.5 Mn by 2016 end and is expected to expand at a CAGR of 9.0% over the forecast period (2016–2026).

Market Dynamics

Demand for pharmaceuticals is currently witnessing robust growth in Saudi Arabia, mainly due to increasing prevalence of non-communicable diseases and improved healthcare infrastructure. The pharmaceuticals market in Saudi Arabia is mainly dominated by MNCs, which account for largest share in the market. Rising health awareness and increased healthcare expenditure are factors expected to drive market growth in the near future. Macroeconomic factors such as increasing penetration of health insurance companies and healthcare reforms such as allowing 100% FDI in the pharmaceuticals sector is further projected to drive growth of the market. Other prominent growth drivers include rapidly growing number of religious tourists and increasing number of expatriates in the country. Saudi Arabia, being the largest market in GCC region, presents better investment opportunities for investors, and this is further augmented with mandatory insurance for expatriates in the country. However, lack of indigenous research capabilities and delays in patent registration are major factor expected to hamper overall growth of the Saudi Arabia pharmaceutical market over the forecast period.

Request For Report Sample@

Market Segmentation by Product

On the basis of product type, the market has been segmented into prescription products and over-the-counter (OTC) products. Prescription products segment is further sub-segmented into branded drugs and generic drugs. Branded drugs product type sub-segment is expected to exhibit highest growth over the forecast period as compared to other segments. Generic drugs sub-segment is expected to exhibit stable growth during the forecast period. This is mainly attributed to emergence of health insurance companies, which is a factor expected to result in lowering cost of treatment by encouraging healthcare providers to prescribe generic drugs.

Market Segmentation by Disease

On the basis of disease, the market has been segmented into cardiovascular diseases, diabetes, cancer, obesity, infectious diseases and other diseases. Cardiovascular disease segment is expected to exhibit highest growth among these segments over the forecast period, followed by the diabetes segment. Obesity segment is expected to exhibit significant growth owing to rising comorbidities such as cardiovascular diseases and diabetes.

Market Segmentation by Distribution Channel

On the basis of distribution channel, the market has been segmented into hospital pharmacies and retail pharmacies. Retail pharmacies segment accounts for highest revenue share in the Saudi Arabia pharmaceutical market currently, followed by the hospital pharmacies segment. Increasing modernized and westernised retail pharmacies and availability of wide variety of products is driving growth of retail pharmacies in the Saudi Arabia pharmaceutical market

Key Players

Some key players in the Saudi Arabia pharmaceutical market covered in this report are SPIMACO, Tabuk Pharmaceuticals Manufacturing Co., Juphar, Jamjoom Pharma, GlaxoSmithKline plc. Pfizer Inc., Novartis AG and Sanofi. The report also identifies company-specific strategies related to product development, market consolidation initiatives and analysis of their specific strengths, weaknesses, opportunities and threats.

Saudi Arabia Pharmaceutical Market Press release :

Contact Details

Company Name: Future Market Insights
Issued By: Shashii Pawar
Phone: 13479183531
Address: 616 Corporate Way, Suite 2-9018,
City: Valley Cottage
State: United States
Zip: 10989
Country: United States
Website: Visit the website

Keywords : Saudi Arabia pharmaceutical market,

by Shashii Pawar (few months ago!)

Latest Press Releases

Heart Health Products Market Key Players, Size, Share, Demand and Research Report 2022

Latest information about Ugc Net Jrf Exam

Equity Research Report Ways2Capital 26 March 2018

Peeling and Dry Male Organ Skin: What it Means

Dudhsagar waterfalls Tour Open for Tourist in 2018

Global Virtual Reality Market by Product Type, by Manufacturing Process: Global Trend Analysi..

Viscosupplementation Market is projected to register a healthy CAGR of 5.1% during 2016-2026.

Dr. Dror Paley Expands His Team at the Paley Orthopedic & Spine Institute

Asia Pacific Congress on Probiotics, Prebiotics and Nutrition

Agricultural Biotechnology Market by Type and Size Industry Report 2016–2021

Remove this press release ?

Due to extra work required to remove the press-releases we have started charging $1.99 for press release removal.

Your press release will be removed in 24 hours, once the payment has been received.

Search Press Release
e.g. Business, Computer, etc.