Egypt
Pharmaceutical Market is expected to grow at a significant rate during the
forecast period. One of the main factors influencing the market is the rising
demand for pharmaceuticals during the COVID-19 pandemic in order to supply
patients with enough medications. Additionally, the government is heavily funding
research and development (R&D) projects that enable quick drug discovery
for bettering health outcomes. The industry is being positively impacted by
this as well as the growing proficiency of leading market participants in specialty
pharmaceuticals including innovative biologics and biosimilars, complicated
generics, and preventive medicine. Additionally, the increasing
use of intelligent automation in the pharmaceutical sector for disease
diagnosis and management is fueling market expansion. Furthermore, the creation
of a single-window system to speed up the approval of economically viable
projects and expedite the drug development process is boosting demand for
pharmaceuticals in the nation. Moreover, growing investments in long-term,
high-risk projects by different funding outlets are providing industry
investors with profitable growth chances.
The Egyptian
pharmaceutical market is driven by a number of factors, including the country's
large population, increasing healthcare spending, and rising demand for
healthcare products and services. The government has also been investing
heavily in the healthcare sector in recent years, which has led to an increase
in the availability and accessibility of healthcare products and services
across the country. The most commonly prescribed therapeutic categories in
Egypt are cardiovascular, gastrointestinal, and anti-infective drugs. The
country also has a significant demand for generics and over-the-counter (OTC)
medications.
Egypt's
pharmaceutical industry is dominated by domestic manufacturers, which account
for over 70% of the market share. The remaining market share is held by
multinational pharmaceutical companies. The top domestic pharmaceutical
companies in Egypt include Amoun Pharmaceutical Company, EIPICO, and Memphis
Pharmaceutical and Chemical Industries.
In terms of
regulations, the Egyptian Ministry of Health and Population is responsible for
regulating the pharmaceutical industry in the country. The ministry has
implemented a number of reforms in recent years aimed at improving the
regulatory environment and promoting investment in the sector.
Overall, the
pharmaceutical market in Egypt is expected to continue to grow in the coming
years, driven by increasing demand for healthcare products and services, rising
healthcare spending, and government investment in the sector.
Adoption of New Regulatory Framework
The new Egyptian
administration has released a set of regulations to enhance the pharmaceutical
business in Egypt, with the ambitious goal of increasing the industry is
driving market expansion during forecast period. The Egyptian Law No. 151 of
2019, declares the establishment of the Egyptian Drug Authority (EDA) as
its own entity and the Egyptian Authority for Unified Procurement, Medical
Supply, and Technology Management as a separate economic unit. Egyptian Drug
Authority (EDA) regulatory framework is governing the pharmaceutical industry
in Egypt and has been completely restructured with the goal conceptualizinging,
developing, and strengthening the healthcare system and pharmaceutical industry
in Egypt, thereby driving the growth of
the Egypt Pharmaceutical market. Moreover, the new regulatory framework made it
possible for the pharmaceutical industry in Egypt to recover quickly and
effectively.
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Delayed Governmental
Approvals
The pharmaceutical industry
in Egypt typically meets technical support miscommunication between
governmental and pharmaceutical regulatory affairs, the gap between academia
and industry, and regulatory, developmental, and manufacturing challenges
beginning with product registration. It also includes delayed governmental
approvals and marketing authorization for registered products, the high
financial cost of the product registration process, and predatory or below-cost
of approved products which in turn hamper the growth of the Egypt
pharmaceutical market throughout the forecast period. However, additional
regulatory issues based on "win-win" approaches, quick production
with real-time regulation, and outcome-based regulation, as well as regulatory
activities such as regulatory analytics, regulatory intelligence and knowledge
management, correspondence and commitment, authoring, programming,
hyperlinking, translations, and data verification, are still to be resolved
which limit the growth of the market.
Market Segmentation
Egypt Pharmaceutical Market
is segmented on the
basis of type, drug classification, mode
of purchase, and distribution channel. Based on type, the market is further
bifurcated into pharmaceutical drugs and biologics. The pharmaceutical drugs segment
is further divided into gynecology drugs, respiratory
drugs, dermatology drugs, analgesic drugs, oncology drugs, and others. Based on
biologics the sub-segment is divided into Monoclonal Antibodies (MAbS), therapeutic
proteins, and vaccines. Based on drug classification, the market is divided
into branded drugs and generic drugs. On the basis of mode of purchase, the
market is divided into prescription-based drugs and over-the-counter drugs. Based on distribution
channel, the market is further divided into hospital pharmacies, retail
pharmacies, and online pharmacies.
Market players
MDI Pharma, Merck
& Co., Novartis AG, Pharco Pharmaceuticals, Roche Holding AG, Sanofi S.A, EVA
Pharma, Orchidia Pharmaceutical Industries, GlaxoSmithKline, Tabuk
Pharmaceuticals are the major drivers in the Egypt Pharmaceutical Market.
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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, and 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
Drug
classification
Mode
of purchase
Distribution
channel
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Regional
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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MDI Pharma, Merck & Co., Novartis AG, Pharco
Pharmaceuticals, Roche Holding AG, Sanofi S.A, EVA Pharma, Orchidia Pharmaceutical
Industries, GlaxoSmithKline, Tabuk Pharmaceuticals.
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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,
the Egypt Pharmaceutical Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Egypt
Pharmaceutical Market, By Type:
o Pharmaceutical Drugs
§ Gynecology Drugs
§ Respiratory Drugs
§ Dermatology Drugs
§ Analgesic Drugs
§ Oncology Drugs
§ Others
o Biologics
§ Monoclonal Antibodies (MAbS)
§ Therapeutic Proteins, Vaccines
·
Egypt
Pharmaceutical Market, By Drug Classification
o Branded Drugs
o Generic Drugs
·
Egypt
Pharmaceutical Market, By Mode of Purchase
o Prescription-Based Drugs
o Over-the-counter Drugs
·
Egypt
Pharmaceutical Market, By Distribution Channel
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
·
Egypt
Pharmaceutical Market, By Region
o Cairo
o Alexandria
o Giza Qalyubia
o Port Said Suez
o Rest of Egypt
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Egypt Pharmaceutical 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 Pharmaceutical 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]