The report examines Saudi Arabia pharmaceutical market for the period 2016–2026. The primary objective of the report is to offer insights on various products such as prescription products, branded drugs, generic drugs and over-the-counter (OTC) products.
The report begins by defining various economic and healthcare indicators in the country, followed by an overview of dynamics of the Saudi Arabia pharmaceutical market, which includes FMI analysis of key trends, drivers, restraints and opportunities and key players. It also includes insights into key regulations and reimbursement scenario. Impact analyses of key growth drivers and restraints based on the weighted average model have also been included in the report to better equip readers with meaningful insights on ongoing developments in the market.
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Primary factors fuelling growth of the Saudi Arabia pharmaceutical market include increasing population and expatriates coupled with rapidly increasing healthcare infrastructure and proactive measures by the government to improve the healthcare systems in the country. Other factors driving demand for pharmaceuticals in Saudi Arabia are rising prevalence of lifestyle diseases and availability of better quality products from multinational companies.
On the contrary, factors such as lack of research and development capabilities and challenging regulatory environment in Saudi Arabia are factors expected to hamper market growth in the near future.
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Based on product type, the market has been segmented into prescription products and OTC products. A detailed analysis has been provided for every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
Based on disease type, the market has been segmented into cardiovascular diseases, diabetes, cancer, obesity, infectious diseases and other diseases. A detailed analysis has been provided for every segment in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
On the basis of distribution channel, retail pharmacies segment is expected to witness highest growth in Saudi Arabia pharmaceutical market over the forecast period. This trend is expected to be particularly prominent in Saudi Arabia, where doctors and patients hold higher preference for branded drugs over generic drugs. However, hospital pharmacies segment is expected to exhibit significant growth over the forecast period due to demand for generic drugs fuelled by increase in health insurance penetration.
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The above sections — by product type, diseases and distribution channel— evaluate the present scenario and growth prospects of the Saudi Arabia pharmaceutical market for 2016–2026. We have considered 2015 as the base year and provided data for the forecast period.
In addition, it is imperative to note that in an ever-fluctuating developing economy, we not only conduct forecasts in terms of CAGR, but also provide analysis based on key parameters such as year-on-year (Y-o-Y) growth rates to understand the predictability of the market and to identify the right opportunities across the market.
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