Saudi Arabia pharmaceutical market is
expected to grow at a significant CAGR in the forecast period. The rise in the
prevalence of lifestyle diseases owing to the adoption of a sedentary lifestyle
thereby leaving less time for physical activities. The surge in consumption of
junk food and high sugar-containing food items and beverages is affecting the
health of consumers adversely. The development of healthcare infrastructure and
the increase in efforts by the leading authorities for technological
up-gradation of the existing system is fostering the growth of the
pharmaceutical market. An increase in awareness among the consumers regarding
the health insurance plans and reimbursement policies is aiding in increasing
the demand for quality healthcare treatment services which in turn is fueling
the pharmaceutical market growth in the next five years. An increase in the
occurrence of non-communicable diseases requiring drug prescription for
treatment is fueling the demand for the pharmaceutical market. The rise in
disposable income among middle-class families is increasing the expenditure
capacity of consumers to afford branded pharmaceutical drugs. The rise in
initiatives taken by the government to promote foreign direct investment for
the development of the pharmaceutical sector and privatization of the hospitals
is influencing the pharmaceutical market growth.
Saudi Arabia pharmaceutical market is
segmented into drug type, product type, application, distribution channel,
regional distribution, and company. Based on application, the market can be
divided into cardiovascular, musculoskeletal, oncology, anti-infective,
metabolic disorder, and others. The cardiovascular segment is expected to
account for a major market share in the forecast period, 2022-2026. Changes in
lifestyle preferences and prevalence of circulatory disorders are the major
driver for the growth of this segment. Also, the increase in the occurrence of
sugar level disorder is fueling the occurrence of diabetes among the
individuals which is a major reason responsible for the growth of
cardiovascular disorders in the region.
The major players operating on the pharmaceutical
market are Novartis Saudi Arabia, Pfizer Saudi Limited, Glenmark
Pharmaceuticals Saudi Arabia, Saudi Pharmaceutical Industries & Medical
Appliances Corporation (SPIMACO), Tabuk Pharmaceuticals Manufacturing Co., Jamjoom
Pharmaceuticals Co, Julphar Pharmaceuticals, GlaxoSmithKline Saudi Arabia
Limited, Baxter Company Limited (BCL), Saudi Arabia, AstraZeneca Saudi Arabia,
and others. Major companies are developing advanced technologies and launching
new services to stay competitive in the market. Other competitive strategies
include mergers & acquisitions and new service developments.
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 and estimate the market size of Saudi Arabia pharmaceutical
market from 2016 to 2019.
- To estimate and forecast the market size of Saudi Arabia pharmaceutical
market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Saudi Arabia pharmaceutical market based
on drug type, product type, application, distribution channel, regional
distribution, and company.
- To identify dominant region or segment in the Saudi Arabia pharmaceutical
market.
- To identify drivers and challenges for Saudi Arabia pharmaceutical market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in Saudi Arabia pharmaceutical
market.
- To identify and analyze the profile of leading players operating in
Saudi Arabia pharmaceutical market.
- To identify key sustainable strategies adopted by market players in
Saudi Arabia pharmaceutical 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 across the globe. 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 manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the manufacturers,
distribution channels and presence of all major players across the globe.
TechSci
Research calculated the market size of Saudi Arabia Pharmaceutical 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:
- Pharmaceuticals manufacturing companies
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums, and alliances related to
pharmaceutical market
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
Report Scope:
In this report, Saudi Arabia pharmaceutical
market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Saudi Arabia Pharmaceutical Market, By Drug Type:
- Generic
Drugs
- Branded
Drugs
- Saudi Arabia Pharmaceutical Market, By Product Type:
- Prescription
Drugs
- Over-The-Counter
Drugs
- Saudi Arabia Pharmaceutical Market, By Application:
- Cardiovascular
- Musculoskeletal
- Oncology
- Anti-infective
- Metabolic
Disorder
- Others
- Saudi Arabia Pharmaceutical Market, By End User:
- Retail
Pharmacy
- Hospital
Pharmacy
- E-Pharmacy
- Saudi Arabia Pharmaceutical Market, By Region:
- Western
Region
- Northern
& Central Region
- Eastern
Region
- Southern Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia 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).
Saudi Arabia 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]