Saudi Arabia Pharmacy Retail Market Grow with a CAGR of 9.53% through 2030F
The Saudi Arabia Pharmacy Retail market is driven by increasing
healthcare demand, an aging population, growing chronic diseases, government
initiatives, and rising health awareness among consumers.
According to
TechSci Research report, “Saudi Arabia Pharmacy Retail Market – By Region,
Competition, Forecast & Opportunities, 2030F”, the Saudi Arabia Pharmacy Retail market stood at USD 7.34
Billion in 2024 and is anticipated to grow USD 12.67 Billion by 2030 with a
CAGR 9.53% during forecast period. The Saudi Arabia Pharmacy Retail market is
driven by increasing health awareness among the Saudi population. With rising
education levels, widespread digital access, and government-led health
campaigns, consumers are more informed about preventive care, disease
management, and wellness. This heightened awareness has led to increased demand
for over-the-counter (OTC) medications, vitamins, dietary supplements, and
health monitoring products. Also, individuals are proactively seeking
pharmaceutical consultations and health-related services from retail
pharmacies. Social media and digital health platforms have further amplified
health literacy, encouraging early diagnosis and consistent treatment. As
consumers prioritize healthier lifestyles and proactive healthcare practices,
pharmacy retailers are expanding their offerings to meet this evolving demand,
positioning themselves as accessible hubs for daily healthcare and wellness
needs across the Kingdom.
The Saudi Arabia
Pharmacy Retail market is primarily driven by the adoption of digital
prescription systems, notably the national Wasfaty platform, is significantly
transforming Saudi Arabia's pharmacy retail sector. Launched by the Ministry of
Health in 2018, Wasfaty streamlines the process of issuing and dispensing prescriptions
by electronically connecting healthcare providers with retail pharmacies. This
integration enhances medication accessibility, reduces prescription errors, and
improves operational efficiency in pharmacies. The
implementation of e-prescribing aligns with the Kingdom's Vision 2030
objectives, promoting digital health initiatives and modernizing healthcare
delivery. By facilitating real-time prescription management and reducing
administrative burdens, digital prescriptions contribute to better patient
adherence and satisfaction . As digital health technologies continue to evolve,
the widespread adoption of e-prescription systems like Wasfaty is poised to
further drive growth and innovation in Saudi Arabia's pharmacy retail market
Browse
over xx market data figures spread through xx Pages and an in-depth TOC on
"Saudi Arabia Pharmacy Retail Market”
The Saudi Arabia
Pharmacy Retail market is segmented into market structure, product type,
therapeutic area, drug type, pharmacy location, and region.
Based on the product
type, the over-the-counter products segment is the fastest growing in the Saudi
Arabia Pharmacy Retail market, driven by several key factors. Firstly, there is
a rising health consciousness among consumers, leading to increased demand for
self-medication and preventive healthcare solutions. This shift is supported by
government initiatives under Vision 2030, which promote self-care and enhance
healthcare accessibility. Also, the
prevalence of lifestyle-related diseases such as diabetes, obesity, and
gastrointestinal disorders has heightened the need for OTC medications that
address these common health issues. The expansion of e-commerce platforms and
online pharmacies has further facilitated access to OTC products, offering
consumers convenience and a wider range of options.
Based on the
region, Eastern is the fastest-growing region in the Saudi Arabia Pharmacy
Retail market, driven by a combination of factors. The region's economic
significance, particularly as a hub for the oil and petrochemical industries,
attracts a large expatriate workforce, contributing to higher disposable
incomes and increased healthcare spending. Also, investments in healthcare
infrastructure have improved medical care access, spurring demand for
pharmaceuticals. The expansion of major pharmacy chains in the region further
enhances accessibility to health services and products. These factors, alongside
the region's strategic position and growing population, are driving the rapid
development of the pharmacy retail sector in the Eastern Province.
Major companies
operating in the Saudi Arabia Pharmacy Retail market are:
- Nahdi
Medical Company
- Tadawi Medical Center
- Atlas Pharmaceuticals
- CVS Health
- Walgreens Boots Alliance, Inc.
- Albertsons Companies, Inc.
- Rite Aid Corp.
- The Jean Coutu Group (PJC) inc.
- Loblaw Companies Limited
- MedPlus Health Services Limited
Download Free Sample Report
Customers can
also request 10% free customization in this report.
“The Saudi
Arabia Pharmacy Retail market is expected to grow in the future owing to
the availability of specialized
medicines. With the increasing prevalence of complex health conditions, such as
cancer, diabetes, and rare diseases, there is a growing demand for specialized
medications tailored to specific treatments. The Kingdom’s healthcare system
has been evolving to meet these needs, with significant investments in the
import, distribution, and retail of advanced pharmaceuticals. Pharmacies are
increasingly stocking specialized drugs, including biologics and
immunotherapies, to address chronic and life-threatening conditions. Also,
collaboration between pharmaceutical companies and healthcare providers has
improved access to these medications. As the Saudi population continues to seek
more targeted treatments, the availability of specialized medicines will
continue to fuel the growth of the pharmacy retail sector, said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
Saudi Arabia Pharmacy
Retail Market By Market Structure (Organized, Unorganized), By
Product Type (Prescribed Drugs, Over-the-Counter Products, Non-Pharmaceutical
Products, Medical Equipment), By Therapeutic Area (Cardiovascular, Anti-Diabetic,
Pain Relief/Analgesics, Vitamins/Minerals/Nutrients, Anti-Infective, Others), By Drug
Type (Generic, Patented), By Pharmacy Location (Street/Mall Based, Hospital
Based),By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of Saudi
Arabia Pharmacy Retail market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the Saudi Arabia
Pharmacy Retail market.
Contact Us-
TechSci
Research LLC
420 Lexington
Avenue, Suite 300,
New York, United
States- 10170
M: +13322586602
Email: [email protected]
Website: www.techsciresearch.com