Saudi Arabia over the counter
(OTC) drugs market is bound to experience impressive growth with anticipated
CAGR in the forecast period, 2023-2027, on account of rapidly increasing
concerns over the non-affordable branded pharmaceuticals. Moreover, rising awareness
and rising health concerns among the population are also driving the market
growth in the upcoming five years. Additionally, the cost of OTC drugs plays a
major role in the consumer inclination toward over counter drugs. The market is
heavily affected by the high costs of the branded and prescription drugs that
make the consumers look for proper means, and the overall cost for the doctor
consultation, prescription preparation, etc., raises the cost of drugs may
folds, whereas over the counter drugs are way affordable. Furthermore,
consumers are intuitively into self-diagnosis, and the treatment drugs are
often available as an over counter drug. The ailments and health issues like
mild fever, pain, and generic health issues like obesity, high blood pressure,
etc., are further enunciating the consumer’s choice of over the counter drugs
on prescription drugs. These factors are aggressively supporting the
exponential growth of the Saudi Arabia over the counter (OTC) drugs market in
the next five years.
The Saudi Arabia over the
counter (OTC) drugs market is segmented by product, route of administration,
dosage form, distributional channel, competitional landscape, and regional
distribution. Based on product, the market is further bifurcated into cough, cold,
and flu; vitamins, minerals, and supplements (VMS); analgesics;
gastrointestinal products; dermatology products; and others. Vitamins,
minerals, and supplements (VMS) are anticipated to hold the largest revenue
shares of the market and assert their dominance over the market on account of
rapidly increasing demands from health-conscious consumers. Consumers are
actively inclined toward building their physique, healthy diets, and
compensating the health nutrients through a maintained dosage of vitamins, minerals,
and supplements. Moreover, Cough, cold, and flu category, over the counter
(OTC) drugs are expected to register the fastest growing CAGR on the grounds of
recent pandemic conditions. The market is expected to grow since patients
suffering from COVID-19 are rapidly increasing, and major symptoms of viral
infection are cough, cold, and flu.
A partial list of market
players in Saudi Arabia over the counter (OTC) drugs market includes Pfizer
Saudi Limited, Sanofi Saudi Arabia, GlaxoSmithKline Saudi Arabia Limited, Gulf
Pharmaceutical Industries (PSC), Tabuk Pharmaceutical Manufacturing Co.,
Jamjoom Pharmaceuticals Co, Reckitt Benckiser (Arabia) FZE, Saudi
Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), among
others. These market players hold larger shares of the market than the new
market players. With the evolving technology, it is appropriate to say that the
effective research and development of technologically advanced instruments and
methods to satisfy consumer demands would support the market growth and benefit
the market players as well as the consumers. New market players may focus on
the research and development to provide such products and services that satisfy
the consumer demand as well as benefits the market players in building their
brand value. Other competitive strategies include mergers & acquisitions
and new product developments.
Objective
of the Study:
- To analyze the historical
growth of the market size of Saudi Arabia over the counter (OTC) Drugs market
from 2017 to 2020.
- To estimate and forecast the market size of Saudi
Arabia over the counter (OTC) drugs market from 2021 to 2027 and growth
rate until 2027.
- To classify and forecast Saudi Arabia over the counter (OTC) drugs market
based on product, route of administration, dosage form, distribution
channel, competitional landscape, and regional distribution.
- To identify dominant region or segment in the Saudi
Arabia over the counter (OTC) drugs market.
- To identify drivers and challenges for Saudi
Arabia over the counter (OTC) drugs market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in Saudi
Arabia over the counter (OTC) drugs market.
- To identify and analyze
the profile of leading players operating in Saudi Arabia over the counter (OTC) drugs market.
- To identify key sustainable strategies adopted
by market players in Saudi Arabia over the counter (OTC) 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 service providers
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 over
the counter (OTC) 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:
- Over the counter (OTC) drugs manufacturers, end users, and
other stakeholders
- Distributers and suppliers of the products and other
stakeholders
- Organizations, forums, and alliances related to over the
counter (OTC) 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.
Attribute
|
Details
|
Base Year
|
2021
|
Historical Data
|
2017 – 2020
|
Estimated Year
|
2022
|
Forecast Period
|
2023 – 2027
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2017-2021 and 2022-2027
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
Segments covered
|
·
Product
·
Route of Administrations
·
Dosage Form
·
Distribution Channel
|
Regional scope
|
Northern & Central; Southern; Eastern; Western
|
Key companies profiled
|
Pfizer Saudi Limited, Sanofi Saudi Arabia, GlaxoSmithKline
Saudi Arabia Limited, Gulf Pharmaceutical Industries (PSC), Tabuk
Pharmaceutical Manufacturing Co., Jamjoom Pharmaceuticals Co, Reckitt
Benckiser (Arabia) FZE, Saudi Pharmaceutical Industries & Medical
Appliances Corporation (SPIMACO).
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
Report Scope:
In this report, Saudi Arabia over the counter (OTC) drugs market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Saudi Arabia Over the counter (OTC)
Drugs Market, By Product:
o Cough
o Cold and Flu
o Vitamins
o Mineral, and Supplements (VMS)
o Analgesics
o Gastrointestinal Products
o Dermatology Products
o Others
- Saudi Arabia Over the counter (OTC)
Drugs Market, By Route of Administrations:
- Saudi Arabia Over the counter (OTC)
Drugs Market, By Dosage Form:
- Tablets
- Capsules
- Liquids & Solution
- Creams/Lotions/Ointments
- Others
- Saudi Arabia Over the counter (OTC)
Drugs Market, By Distribution Channel:
- Retail Pharmacy
- Hospital Pharmacy
- E-Pharmacy
- Saudi Arabia Over the counter (OTC)
Drugs Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia over the counter (OTC) 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 Over the counter (OTC) 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]