Saudi Arabia generic drugs market
is expected to witness significant growth during the forecast period on account
of growing prevalence of several chronic diseases such as cancer, diabetes,
cardiovascular diseases, renal disorders, gastrointestinal disorders, among
others in the country. Additionally, growing geriatric population which is
susceptible to various diseases is expected to further increase the demand for
generic drugs in the market through 2026. Furthermore, increasing count of drug
patent expiration has made the room for entry and increase in demand for
generic drugs in the market. Besides, several benefits associated with generic
drugs such as their low cost, easy availability, composition like innovator
drug, among others is expected to bolster the market growth over the next few
years.
The Saudi Arabia generic
drugs market can be segmented by type, mode of drug discovery, form, source,
distribution channel, application, region and company. Based on application,
the market can be categorized into cardiovascular diseases, diabetes,
neurology, oncology, anti-inflammatory diseases, and others. The diabetes
segment is expected to dominate the market on account of the growing prevalence
of diabetes in the country. Saudi Arabia has second largest diabetic population
in the Middle East region. The diabetes prevalence rate in Saudi Arabia among
adults aged between 20-79 years reached to 15.8% in 2019. Additionally,
cardiovascular disease is the leading cause of mortality worldwide,
contributing to 31% of all deaths. Cardiovascular disease is also becoming a
major health concern in the Gulf Council Countries, including Saudi Arabia,
where it is estimated that CVD accounts for more than 45% of all deaths. In
Saudi Arabia, lifestyle has changed dramatically because of rapid urbanization,
with an increase in poor diet and the adoption of a sedentary lifestyle. As a
result of this the prevalence of several chronic and lifestyle associated
disease has significantly increased. This in turn will increase the demand for
generic drugs significantly in the country.
The major companies operating
in Saudi Arabia generic drugs market includes Saudi Pharmaceutical Industries
& Medical Appliances Corporation (SPIMACO), Tabuk Pharmaceuticals
Manufacturing Co., Jamjoom Pharmaceuticals Co., Riyadh Pharma, Al Jazeerah
Pharmaceutical Industries Ltd (Hikma), Pfizer Saudi Company Ltd., Sanofi
Aventis Arabia Co. Ltd., Novartis Saudi Arabia, GlaxoSmithKline Saudi Arabia
Limited (GSK), Novo Nordisk Saudi Arabia, among others. Major players operating
in the market are adopting strategies such as mergers & acquisitions,
collaborations, product launches, among others in the market in order to stay
competitive and having an edge over the other players operating in the market.
Years
considered for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
- To analyze the historical growth of the market
size of Saudi Arabia generic drugs market from 2016 to 2019.
- To estimate and forecast the market size of Saudi
Arabia generic drugs market from 2020 to 2026 and growth rate until
2026.
- To classify and forecast Saudi Arabia generic
drugs market based on type, mode of drug delivery, form, source,
distribution channel, application, region and company.
- To identify dominant
region or segment in the Saudi Arabia generic drugs market.
- To identify drivers and challenges for Saudi
Arabia generic drugs market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia generic drugs market.
- To identify and analyze the profile of leading
players operating in Saudi Arabia generic drugs market.
- To identify key
sustainable strategies adopted by market players in Saudi Arabia generic
drugs market.
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TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers, suppliers, and distributors across
the country. Subsequently, TechSci Research conducted primary research surveys
with the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research
could include the manufactures which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the manufactures,
distribution channels and presence of all major players across the country.
TechSci Research calculated the market
size of Saudi Arabia generic drugs market using a bottom-up approach, wherein
data for various end-user segments was recorded and forecast for the future
years. TechSci Research sourced these values from the industry experts and
company representatives and externally validated through analyzing historical
data of these product types and applications for getting an appropriate,
overall market size. Various secondary sources such as company websites, news
articles, press releases, company annual reports, investor presentations and
financial reports were also studied by TechSci Research.
Key
Target Audience:
- Generic
Drugs manufacturers, end users, and other stakeholders
- Distributers
and suppliers of the products and other stakeholders
- Organizations,
forums, and alliances related to generic drugs
- Market
research and consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, suppliers, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Saudi Arabia generic
drugs market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- Saudi Arabia Generic Drugs Market,
By Type:
o
Small
Molecule Generics
o
Biosimilars
- Saudi Arabia Generic
Drugs Market, By Mode of Drug Delivery:
- Oral
- Topical
- Parenteral
- Others
- Saudi Arabia Generic
Drugs Market, By Form:
- Tablet
- Capsule
- Injection
- Others
- Saudi Arabia Generic
Drugs Market, By Source:
- In-House
- Contract Manufacturing
Organizations
- Saudi Arabia Generic
Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Saudi Arabia Generic
Drugs Market, By Application:
- Cardiovascular Diseases
- Diabetes
- Neurology
- Oncology
- Anti-Inflammatory
Diseases
- Others
- Saudi Arabia Generic
Drugs Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia 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).
Saudi Arabia 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]
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