UAE Pharmacy Retail Market to be Dominated by Generic Drugs till 2027

Growing geriatric population and surge in public healthcare expenditure is expected to drive the demand of UAE Pharmacy Retail Market in the forecast period, 2023-2027.

According to TechSci Research report, “UAE Pharmacy Retail Market By Market Structure (Organized v/s 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 v/s Patented), By Pharmacy Location (Street/Mall Based v/s Hospital Based), By Region, Competition Forecast & Opportunities, 2027”, the UAE pharmacy retail market is expected to witness a steady growth in the forecast period, 2023-2027. The rising availability of OTC drugs, growing annual income of the population, and rise in the number of market players offering drugs through various distribution channels are expected to drive the demand for UAE pharmacy retail market through the next five years.

UAE is majorly dependent on the import of drugs and pharmaceutical products. It has been investing hefty amounts to boost the local manufacturing capability to lower the costs involved in the production process and ensure steady supplies of drugs.

The number of manufacturing units in UAE reached 23 in 2021, comprising 14 producing medicines, four manufacturing medical devices, and two focused on disinfectant solutions. It produces 2,500 medicines at the local level and is working on becoming a self-dependent industry.

The surge in the number of clinical studies, research activities, and drug identification and development activities is expected to create lucrative growth opportunities for UAE pharmacy retail market in the forecast period. The medicines which are in the developing phase are expected to provide massive returns to the patient population.

An increase in the technological advancement activities and high-scale productivity of drugs are expected to act as positive factors for market growth. Also, the government is incentivizing pharmaceutical companies, opening the market access to novel and advanced medicines, and encouraging the formation of public-private partnerships. The growth of the pharmaceutical industry is expected to boost the demand for UAE pharmacy retail market for the next five years.

However, the shortage of pharmacists in the country may restrain the UAE Pharmacy Retail market growth for the forecast period.

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The UAE pharmacy retail market is segmented into market structure, product type, therapeutic area, drug type, pharmacy location, regional distribution, and company.

Based on product type, the market is divided into prescribed drugs, over-the-counter products, non-pharmaceutical products, and medical equipment. Prescribed drugs are expected to capture the largest market share in the forecast period.

The growing prevalence of chronic diseases requires special drugs for effective treatment to mitigate the risk and eliminate the immediate medical risks. Prescription drugs help the patients live healthier and longer lives. The easy availability of drugs in the market is expected to bolster the market demand through the forecast period.

Based on the therapeutic area, the market is divided into cardiovascular, anti-diabetic, pain relief/analgesics, vitamins/minerals/nutrients, anti-infective, and others. Cardiovascular diseases are expected to hold the largest market share in the forecast period. These diseases are the leading cause of death in the UAE, with symptoms occurring in patients way before the people in developed countries.

A large number of people suffer from obesity and are diabetic. Stress, high cholesterol, and high blood pressure are the other leading factors that cause cardiovascular diseases. Patients need medicines that can reduce the negative effects and provide a soothing effect to patients. The high demand for drugs treating cardiovascular diseases is expected to accelerate the demand for UAE pharmacy retail market.

Based on pharmacy location, the market is divided into street/mall-based v/s hospital based. Hospital-based pharmacies are expected to account for a significant market share in the forecast period due to the large footfall of patients in the hospital facilities. Consumers prefer to buy through hospital-based pharmacies as they are easily accessible, highly convenient, and provide drugs at an affordable rate.

Major market players operating in the UAE pharmacy retail market are:

·         Thumbay Phamacy

·         Aster Pharmacy

·         Al Manara Pharmacy

·         Boots Pharmacy

·         BinSina Pharmacy

·         Medicina Pharmacy

·         Supercare Pharmacy

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“The UAE pharmacy retail industry is developing rapidly, and the entry of local and international players in the pharmaceutical industry is expected to boost the growth of the UAE pharmacy retail market through the next five years. Changes in the regulatory framework by the government to attract market players and the ongoing research and development activities in the pharmacy industry to boost the effectiveness of the drugs are expected to create growth opportunities for UAE pharmacy retail market. Also, the rise in the number of pharmaceutical manufacturing industry and the healthcare facilities coupled with the growing focus of government to diversify the income sources to boost the country's GDP are expected to propel the UAE pharmacy retail market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“UAE Pharmacy Retail Market By Market Structure (Organized v/s 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 v/s Patented), By Pharmacy Location (Street/Mall Based v/s Hospital Based), By Region, Competition Forecast & Opportunities, 2027”, 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 UAE pharmacy retail market.

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