UAE Pharmacy Retail Market to Grow with a CAGR of 7.8% through 2029F
The increasing prevalence of
chronic diseases and favorable government policies promoting the growth of the
healthcare industry are the primary factors driving the demand for UAE pharmacy
retail market.
According
to TechSci Research report, “UAE Pharmacy Retail Market – By Region, Forecast
& Opportunities, 2029F”, the UAE Pharmacy Retail market stood at USD
5.87 Billion in 2023 and is anticipated to grow with a CAGR 7.8% through 2029F.
The United Arab Emirates
(UAE) pharmacy retail market is a dynamic and rapidly evolving sector,
reflecting the country's broader economic growth and increasing healthcare
demands. As of 2024, the UAE pharmacy retail market has become a critical
component of the nation's healthcare landscape, driven by several key factors
including population growth, an expanding middle class, increased health
awareness, and supportive government policies.
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" UAE Pharmacy Retail Market”
The
UAE's population has been steadily increasing, with a diverse demographic
profile that includes a large expatriate community. The growing population,
particularly the aging segment, has contributed to higher demand for
pharmaceuticals and healthcare products. The emphasis on maintaining
high-quality healthcare standards has further stimulated market growth. The UAE
government has heavily invested in healthcare infrastructure, including the
expansion of hospitals and clinics, which has a direct impact on the pharmacy
retail sector. This investment is aimed at enhancing healthcare accessibility
and quality, leading to greater demand for pharmaceutical products and
services.
There
is a growing awareness among UAE residents regarding health and wellness. This
trend is evident in the increasing consumption of dietary supplements, wellness
products, and over-the-counter (OTC) medications. The emphasis on health
education and preventive measures has driven consumers towards pharmacies for
health management. The UAE government has introduced various regulations to
ensure the safety and quality of pharmaceutical products. The establishment of
the Emirates Authority for Standardization and Metrology (ESMA) and the UAE's
Federal Drug Control Unit have set stringent guidelines for pharmacy
operations, contributing to a more organized and transparent market.
The
UAE pharmacy retail market is competitive, with numerous players vying for
market share. Key players include both international and local chains, each
striving to differentiate themselves through product offerings, customer
service, and technological innovations. The market is also seeing a trend
towards consolidation, with larger chains acquiring smaller pharmacies to
expand their reach and operational efficiency.
The
UAE's population expansion, including a significant influx of expatriates and a
growing middle class, has increased the demand for pharmaceutical products and
healthcare services. The rising prevalence of chronic diseases, such as
diabetes and cardiovascular conditions, alongside an aging population, has
spurred the need for continuous medication and health management solutions. Healthcare
infrastructure development has also played a pivotal role in market growth. The
UAE government’s substantial investments in healthcare facilities—ranging from
state-of-the-art hospitals to specialized clinics—have enhanced accessibility
to medical care and, consequently, pharmaceutical products. This expansion in
healthcare infrastructure directly correlates with the increasing demand for
pharmacy services and products.
Additionally,
there has been a notable shift towards health and wellness, with a growing
consumer preference for preventive care and wellness products. The heightened
health awareness among UAE residents has driven up the demand for
over-the-counter medications, dietary supplements, and other wellness products,
further boosting market growth. The regulatory environment in the UAE has also
contributed positively, with stringent regulations ensuring the safety and
quality of pharmaceutical products. These regulations enhance consumer
confidence and encourage market expansion by ensuring high standards in
pharmacy operations. Overall, the UAE pharmacy retail market is on a robust
growth trajectory, fueled by demographic changes, infrastructure advancements,
increasing health awareness, and supportive regulations.
The UAE Pharmacy
Retail market is segmented into market structure, product type, therapeutic area,
drug type, pharmacy location and region.
In the UAE
pharmacy retail market, non-pharmaceutical products represent the
fastest-growing segment by product type. This category includes
over-the-counter (OTC) medications, health and wellness products, dietary
supplements, and personal care items. The surge in this segment is driven by
several factors. There is a growing consumer emphasis on health and wellness,
with residents increasingly seeking preventive measures and holistic health
solutions. This trend is reflected in the rising demand for dietary
supplements, vitamins, and natural health products, which are perceived as
vital for maintaining well-being and preventing illness.
Additionally,
the heightened awareness around self-care and preventive healthcare has led to
increased consumption of OTC medications for minor ailments and personal care
products. Pharmacies are capitalizing on this trend by expanding their
offerings in these areas, catering to a more health-conscious consumer base. Moreover,
the convenience of obtaining these products from pharmacies, combined with
effective marketing and educational campaigns, has further fueled their growth.
The robust expansion of pharmacy chains and the rise of e-pharmacy platforms
have also made these non-pharmaceutical products more accessible, contributing
to their rapid market expansion in the UAE.
Major companies
operating in UAE Pharmacy Retail market are:
- Medicina Group of Pharmacies
- Thumbay Ltd
- Aster Pharmacies Group LLC
- M.H. Alshaya Co. W.L.L
- E MANARA GENERAL TRADING - SOLE PROPRIETORSHIP LLC (Al Manara Pharmacy)
- Al Khayyat Investments LLC
- Supercare Pharmacy
- O2 Pharmacy
- M. H. Alshaya Co. WLL (Boots Pharmacy)
- Seif Pharmacy
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“The
UAE pharmacy retail market is experiencing robust growth with several key
factors including the rising population, including an expanding middle class
and a growing elderly demographic, has increased the demand for both
prescription and over-the-counter (OTC) medications. Additionally, a heightened
focus on health and wellness has led to increased consumption of dietary
supplements and personal care products. Significant investments in healthcare
infrastructure by the UAE government have improved access to medical services
and, consequently, to pharmaceutical products. The expansion of hospitals and
clinics has directly driven up the need for pharmacy services. The rise of
e-pharmacy platforms has also contributed to market growth, offering consumers greater
convenience and accessibility. As pharmacies increasingly integrate digital
technologies and expand their product offerings, they are well-positioned to
capitalize on these trends, further accelerating market expansion.” said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
UAE
Pharmacy Retail Market, Segmented 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, 2020-2029F”,
has evaluated the future growth potential of UAE 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 UAE Pharmacy Retail market.
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