Egypt
Generic Drugs Market is expected to register a formidable growth during the
forecast period on account of growing prevalence of chronic diseases. Chronic
diseases, such as diabetes, hypertension, cardiovascular diseases, cancer, are
among the most prevalent and can be debilitating, requiring lifelong treatment.
According to International Diabetes Federation (IDF), estimated number of
people in 1,000s between the age of 20-79 years in Egypt in 2021 were around
10,930.7. This number is set to increase to 19,975.3 by 2045. As the
prevalence of chronic diseases continues to rise, so does the demand for
affordable and effective medications, leading to an increased demand for
generic drugs. Additionally, increasing geriatric population worldwide which is
susceptible to various chronic diseases, injuries and falls is further expected
to increase the demand for generic drugs.
Additionally,
growing geriatric population which is susceptible to various diseases is
further expected to increase the demand for generic drugs, thereby driving the
growth of Egypt generic drugs market. According to Central Agency for Public
Mobilisation and Statistics (CAPMAS), Egypt's elderly population had reached
6.5 million, of which 3.5 million were males and 3 million females in 2019. The
number has been significantly increasing since then, thereby driving the growth
of Egypt generic drugs market.
Benefits
Associated with Generic Drugs
The
low cost and easy availability are the major benefits which have significantly
increased the demand for generic drugs over the last few years and will also
support the growth of Egypt generic drugs market during the forecast period. The
high cost of branded drugs is a significant factor driving the demand for
generic drugs. Many people cannot afford the high prices of branded drugs, and
generic drugs offer a more affordable alternative. Generic drugs are often
priced at a fraction of the cost of branded drugs, making them accessible to a
wider range of people. For example, according to FDA, on average, generic drugs
cost 80-85% less than their branded counterparts. This cost saving can be
significant, especially for people who require long-term medication or have
chronic conditions that require multiple medications. This in turn is expected
to support the growth of Egypt generic drugs market. Additionally, many generic
drugs are available over-the-counter (OTC), meaning that they can be purchased
without a prescription. This makes it easier for people to access medications
they need without having to visit a doctor or obtain a prescription.
Supportive
Government Policies & Initiatives
Government
policies have played an important role in driving the growth of the generic
drugs market in Egypt. The Egyptian government has implemented price
regulations for both branded and generic drugs, which has helped to make
medications more affordable for patients. This has increased demand for generic
drugs, which are generally less expensive than their branded counterparts.
Additionally, there is no competition issues associated with the generic entry
of pharmaceuticals in Egypt. The registration of pharmaceutical products in
Egypt includes a compulsory pricing phase, in which the Ministry of Health
intervenes to determine the price of the product regardless of it being
innovative. This compulsory pricing regime in turn helps in eliminating competition
issues associated with the generic entry of pharmaceuticals. All these factors
are expected to support the growth of Egypt generic drugs market in the coming
years.
Furthermore,
the government has implemented policies to promote local manufacturing of
generic drugs, including tax incentives and support for research and
development. This has helped to build a strong local industry, which has in
turn contributed to the growth of the market. The government has implemented
policies to increase access to healthcare for all citizens, including through
the provision of free or subsidized healthcare services. This has increased
demand for medications, including generic drugs, which are more affordable for
patients. This in turn is expected to create lucrative opportunities for the
growth of Egypt generic drugs market during the forecast period.
Improving
Healthcare Infrastructure
As
the healthcare infrastructure in Egypt expands, more people have access to healthcare
services, including prescription medications. This has increased the demand for
generic drugs, which are more affordable and accessible than branded drugs. The
expansion of healthcare facilities in Egypt, including hospitals, clinics, and
pharmacies, has created more opportunities for local manufacturers to
distribute and sell generic drugs. This has contributed to the growth of the
generic drugs market, as more patients have access to these medications. The
growing healthcare infrastructure in Egypt has also led to improvements in
logistics and distribution channels for medications, including generic drugs.
This has made it easier for manufacturers to distribute their products across
the country, increasing their reach and sales.
As
the healthcare infrastructure in Egypt expands, there is a greater emphasis on
preventive healthcare, including the use of medications to prevent and manage
chronic diseases. This has increased the demand for generic drugs, which are
commonly used to treat chronic conditions. The growing healthcare
infrastructure in Egypt has also attracted investment in research and
development of new generic drugs. This has led to the development of new and
innovative medications that meet the needs of patients in the country. All these
factors are expected to open new prospects for the growth of Egypt generic
drugs market.
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Market Segmentation
Egypt
Generic Drugs market is segmented into type,
application, drug delivery, form,
source, distribution channel, region, and company. Based on type, Egypt Generic
Drugs market is split into small molecule generics and biosimilars. Based on application, Egypt Generic
Drugs market is categorized into cardiovascular diseases, diabetes, neurology,
oncology, anti-inflammatory diseases, and others. In terms of drug delivery,
Egypt Generic Drugs Market can be divided into oral, topical, parenteral, and
others. By form, Egypt Generic Drugs Market can be fragmented into tablet,
capsule, injection, and others. Based on source, Egypt Generic Drugs can be
bifurcated into in-house and contract manufacturing organizations. By
distribution channel, Egypt Generic Drugs Market can be segmented into hospital
pharmacies, retail pharmacies, online pharmacies, and others. Regionally, Egypt
Generic Drugs market can be split into Cairo, Alexandria, Giza, Qalyubia, Port
Said, Suez, and Rest of Egypt.
Market Players
Eva Pharma, Pharco Pharmaceuticals,
Amoun Pharmaceutical Company S.A.E. (“Amoun”), Rameda Pharmaceutical Company, Delta
Pharmaceutical Industries, Global Napi Pharmaceuticals (Global Pharmaceutical
Group), Minapharm Pharmaceuticals Co., Adwia Pharmaceuticals Co., GlaxoSmithKline
S.A.E, Sanofi Egypt, Hikma Pharmaceuticals Plc, Egyptian International
Pharmaceutical Industries (EIPICO), Medical Union Pharmaceuticals, MDI Pharma, AstraZeneca
Egypt, among others are some of the leading companies operating in the Egypt Generic
Drugs Market.
Recent Developments
In June 2022, officials from India
and Egypt met to discuss partnerships for pharmaceutical trade, regulatory
cooperation, pharmaceutical education and research. India is focusing on Egypt
as a gateway to North Africa for its pharmaceutical exports, and the African
nation seeks to leverage Indian businesses to strengthen its active
pharmaceutical ingredients market and domestic drugs production. However, there
is a major challenge which needs to be addressed. India is not among the
countries presently approved by Egyptian authorities for good manufacturing
practices. Egypt is seeking to become the pharmaceutical hub supplying
vaccines, drugs, medical devices for the domestic as well as across different
African countries. With this meeting and further meeting sessions Egypt is
looking forward to attracting Indian pharmaceutical companies to look at Egypt
as a manufacturing base catering to the African and regional markets for
medicines, serum and vaccines. This in turn will open new prospects for the
growth of Egypt generic drugs market in the next few years.
In August 2022, Egyptian
International Pharmaceutical Industries (EIPICO), the largest pharmaceutical
company in Egypt by number of units, announced its plans of diversifying its production
capacity by building the country’s first biological & biosimilar production
plant. With the set up of this manufacturing unit, EIPICO will become the first
company in the Middle East and North Africa (MENA) region to produce biological
products starting from the cell line to final dosage form.
Such developments are expected to
support the growth of Egypt Generic Drugs Market in the next few years.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million,
CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue forecast, Company share, Competitive
landscape, Growth factors, and Trends
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Segments covered
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Type
Application
Drug Delivery
Form
Source
Distribution Channel
Region
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Country scope
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Cairo, Alexandria, Giza, Qalyubia, Port
Said, Suez, Rest of Egypt
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Key companies profiled
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Eva Pharma, Pharco Pharmaceuticals, Amoun Pharmaceutical Company S.A.E. (“Amoun”), Rameda Pharmaceutical Company, Delta Pharmaceutical Industries, Global Napi Pharmaceuticals (Global Pharmaceutical Group), Minapharm Pharmaceuticals Co., Adwia Pharmaceuticals Co., GlaxoSmithKline S.A.E, Sanofi Egypt, Hikma Pharmaceuticals Plc, Egyptian International Pharmaceutical Industries (EIPICO), Medical Union Pharmaceuticals, MDI Pharma, AstraZeneca Egypt
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Customization scope
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10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Avail customized
purchase options to meet your exact research needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Egypt Generic
Drugs market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
Egypt Generic Drugs Market, By Type:
o
Small
Molecule Generics
o
Biosimilars
·
Egypt Generic Drugs Market, By Application:
o
Cardiovascular
Diseases
o
Diabetes
o
Neurology
o
Oncology
o
Anti-Inflammatory
Diseases
o
Others
·
Egypt Generic Drugs Market, By Drug Delivery:
o
Oral
o
Topical
o
Parenteral
o
Others
·
Egypt Generic Drugs Market, By Form:
o
Tablet
o
Capsule
o
Injection
o
Others
·
Egypt Generic Drugs Market, By Source:
o
In-House
o
Contract
Manufacturing Organizations
·
Egypt Generic Drugs Market, By Distribution Channel:
o
Hospital
Pharmacies
o
Retail
Pharmacies
o
Online
Pharmacies
o
Others
·
Egypt Generic Drugs Market, By Region:
o Cairo
o Alexandria
o Giza
o Qalyubia
o Port Said
o Suez
o Rest of Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the
major companies present Egypt Generic Drugs market.
Available Customizations:
With the given market data, TechSci
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).
Egypt Generic Drugs Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]