UAE Pharmaceuticals Market is stood at USD 4009.31
million in 2022 and is expected to grow at steady rate of 7.96% during the
forecast period, on the
account of rising prevalence of chronic diseases such as cancer, diabetes, cardiovascular
disorders, respiratory problems, renal disorders, and others in the country
requiring effective treatment is expected to drive the growth of UAE
pharmaceutical market during the forecast period. For instance, according to
the global cancer observatory, in 2020, about 4807 number of new cases in UAE
were of cancer. Out of which, 1030 were of breast cancer, 510 were of
colorectum, 405 were of thyroid, 272 were of leukemia, 270 were of prostate,
and 2380 were of other kinds of cancers. Furthermore, the increasing
disease burden has led to surge in the demand of pharmaceuticals products,
which is expected to bolster the growth of the market. These factors are
actively driving the growth of the UAE Pharmaceuticals Market in the upcoming
five years, 2024-2028.
One of the key drivers of growth in the
UAE pharmaceutical market is an aging population. As people get older, they are
more likely to require medication to treat chronic conditions such as diabetes,
heart disease, and arthritis. This has led to an increase in demand for
medications and has created a large and growing market for pharmaceutical
companies. Another factor driving growth in the UAE pharmaceutical market is
increasing healthcare spending. The government has made healthcare a priority
and has allocated significant resources to improve healthcare infrastructure
and services. This has created a favorable environment for pharmaceutical
companies, with a growing demand for drugs and therapies.
Additionally, the market growth can be
attributed to the expanding healthcare infrastructure in the country and high
investments by market players in developing effective drugs and medicines, infectious
disorders brought by increased tourism and environmental factors is expected to
drive the growth of the market.
Furthermore, the consistent research and
technological advancement in the manufacturing of drugs is expected to aid the
growth of the UAE Pharmaceuticals Market in the forecast period, in the
forecast period of 2024-2028. Moreover, the government supports the idea by
increasing investment in the pharmaceutical sector and the pharmaceutical
companies are forced to manufacture pharmaceuticals products in the country.
Rise
Prevalence of Diseases
The
increase in number of chronic diseases, infectious diseases, and lifestyle
diseases are the major factor influencing the growth of the pharmaceutical
market in the country. Chronic diseases like cardiovascular diseases, cancer,
neurological disorders, etc. are driving the market growth. According to the
research articles, health experts say at least 50 percent of heart attack
patients in the UAE are under the age of 50, as doctors warn obesity and
sedentary lifestyles are creating a generation prone to cardiovascular disease.
Government
Initiatives
United Arab Emirates' government is
actively focused on developing the technology and the advancement in the
pharmaceutical industry. Several initiatives were taken within the country like
Dubai Industrial Strategy 2030 and Abu Dhabi vision 2030 is focused towards
developing the pharmaceutical industry due to its future growth prospects,
export potential and mid-term to long-term economic impact. In the recent
years, majorly the pharmaceutical demands were fulfilled by imported drugs and
products. Therefore, the market players are increasing their manufacturing of
pharmaceutical products, thereby initiating to strengthen bonds with
multinational market players. Government is preparing favorable schemes and
plans for the distribution channels and funding strategic location and
sophisticated logistics infrastructure to further strengthen the growth of the
UAE pharmaceutical market in the future five years.
The UAE's government's initiatives to
increase and improve healthcare access will be aided by rising support from the
business sector. The National Unified Medical Record system and the Public
Health Management platform, both aim to use digital health solutions to foster
collaboration between the public and private sectors, while promoting and
monitoring public health initiatives, and improving the overall provision of
healthcare, that has been introduced by the UAE's Ministry of Health and
Prevention over the course of 2021. According to the International Diabetes
Federation, in 2021, out of 1000s, about 990 Emiratis were suffering from
diabetes. Additionally, the growing research and development activities in
the pharmaceutical industry is projected to augment the growth of the UAE
pharmaceutical market in the forthcoming years.
Moreover,
the pharmaceutical market in the UAE is dominated by multinational companies
such as Pfizer, Novartis, Roche, and Sanofi. These companies have a strong
presence in the country and invest heavily in research and development to bring
new drugs and therapies to market. In addition to these major players, there
are other smaller companies and startups that focus on developing drugs for
niche markets.
Increase
in Medical Tourism
The
UAE government is rapidly expanding its medical tourism industry. Because of
its position, The Emirates is a convenient destination for tourists. In the
United Arab Emirates, cancer therapy is the most sought-after medical service.
This attracts around 400 thousand patients worldwide. Dental surgery is gaining
interest and over the next decade, it will be a booming business in the
country. The facilities for other forms of treatments including surgeries and
orthopedic treatments are available.
Recent
Developments
In January 2022, the UAE’s Ministry of Health and Prevention
signed a memorandum of understanding with a strong market player namely Bayer
Middle East to launch a new educational initiative "STEPS"
(Development and Training for Excellence in Clinical Pharmacy Systems). The new
initiative aims to support the local health authorities by developing the
capabilities of the various components of the medical system, such as
regulators, suppliers, and pharmacists, through the provision of training
modules on health economics with the aim of educating the medical community on
best healthcare practices.
Additionally, in January 2022, ADQ, one of Abu Dhabi’s
largest sovereign wealth funds, entered into an agreement to consolidate
several companies in order to create the UAE’s largest healthcare provider. The
new healthcare platform will operate through Alpha Dhabi’s unit, Pure Health
Medical Supplies, a UAE-based integrated healthcare solutions provider. As part
of consolidatory efforts, Pure Health, which already has a diversified service
portfolio of hospital management, laboratory services, medical supplies, and healthcare
informatics, will improve efficiencies and optimize healthcare expenditure
across the value chain.
In December 2021, AstraZeneca and Abu Dhabi’s G42 Healthcare
announced a partnership to boost clinical research and diagnostics’ frameworks
in the UAE. They also investigate real-world genomics evidence as part of the
collaboration, and G42 Healthcare's Biogenix Labs use to provide full clinical
diagnostic services.
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Market
Segmentation
The UAE Pharmaceuticals Market is
segmented by drug type, product type, application, distribution channel,
region, and competition landscape. Based on drug type, the market is further
bifurcated into generic drugs and branded drugs. Based on product type, the
market is segmented into over-the-counter drugs and prescription drugs. Based
on application, the market is segmented into cardiovascular, oncology, metabolic
disorder, musculoskeletal, anti-infective, and others. Based on distribution
channel, the market is bifurcated into retail pharmacy, hospital pharmacy, and e-pharmacy.
Market Players
Pfizer UAE, Johnson & Johnson
Middle-East, GlaxoSmithKline & Neopharma, Julphar Gulf Pharmaceutical Ind, Roche
Pharmaceuticals Middle East FZCO, Niner Pharmaceuticals LLC, Lifepharma FZE,
Hikma Pharmaceuticals, etc. are
some of the leading companies operating in the UAE Pharmaceuticals Market.
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Attribute
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Details
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Market size value in 2022
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USD 4009.31 Million
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Revenue Forecast in 2028
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USD 6436.59 Million
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Growth Rate
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7.96%
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Base Year
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2022
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Historical Years
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2018 – 2022
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Estimated Year
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2022E
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Forecast Period
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2023F – 2028F
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Quantitative Units
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Revenue in USD Million, Volume
in Units and CAGR for 2017-2021 and 2022E-2028F
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Report Coverage
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Revenue forecast, volume
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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Drug Type
Product Type
Application
Distribution Channel
Region
Company
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Region Scope
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Abu Dhabi, Dubai, Sharjah,
and Rest of UAE
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Key Companies Profiled
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Pfizer UAE, Johnson
& Johnson Middle-East, GlaxoSmithKline & Neopharma, Julphar Gulf
Pharmaceutical Ind, Roche Pharmaceuticals Middle East FZCO, Niner Pharmaceuticals
LLC, Lifepharma FZE, Hikma Pharmaceuticals.
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Customization Scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
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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, UAE Pharmaceuticals
Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- UAE Pharmaceuticals Market, By Drug
Type:
o Generic Drugs
o Branded Drugs
- UAE Pharmaceuticals Market, By Product
Type:
- Over-The-Counter Drugs
- Prescription Drugs
- UAE Pharmaceuticals Market, By Application:
- Cardiovascular
- Oncology
- Metabolic Disorder
- Musculoskeletal
- Anti-infective
- Others
- UAE Pharmaceuticals Market, By Distribution
Channel:
- Retail Pharmacy
- Hospital Pharmacy
- E-Pharmacy
- UAE Pharmaceuticals Market, By
Region:
- Abu Dhabi
- Dubai
- Sharjah
- Rest of UAE
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in UAE Pharmaceuticals 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).
UAE 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]