Global Halal Pharmaceuticals Market
The pharmaceuticals that strictly obey the Shariah law are called as halal pharmaceuticals. More specifically no alcohol, parts of animals such as pigs, dogs and the ones with pointed teeth, insects (bees), etc. that are claimed as ‘haram’ under the Shariah law in used in the making of halal pharmaceuticals.
The Global Halal Pharmaceuticals Market has been growing at a robust pace across the globe especially in the developed countries. The industry is all set to be a competitive force in coming years with rising growth in several parts of the world and a growing potential customer base worldwide. The industry is creating a strong presence among several regions.
The halal pharmaceuticals market is projected to reach USD 174.59 billion by 2025 growing with a CAGR of 9.4% during the forecast period. Strong support from Islamic demography and significant increase in Muslim consumer spending to propel the halal pharmaceuticals market.
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The demand for halal healthcare and wellness products, generic medical and pharmaceutical is rising day by day in Muslim-majority countries which is also promoting halal pharmaceutical industry as a whole. The major reason behind this rise in demand of halal based medicinal products and drugs is the concerns among Muslims regarding the use of animal-based gelatins and animal derivatives in these products.
Growing Muslim population across the globe is anticipated to drive the growth of the market for halal pharmaceuticals in coming years. However the major challenge faced by the global industry is the need to establish a harmonized, well-regulated, proper accreditation and halal management system.
Halal pharmaceuticals industry is anticipated to keep growing at even higher pace in the future years. The investors are looking forward to the opportunities in the industry. With the rise in globalization the number of migrants across the globe has increased exponentially which in turn is resulting into the rise in demand for halal pharmaceuticals across the globe. In addition to that the rise in number of people turning vegan is also expected to boost the market growth. Furthermore the halal pharmaceuticals are believed to maintain some standards of quality and considered much effective, uncontaminated and safer.
Some of the major players operating in this industry are Duopharma Biotech Berhad, Chemical Company of Malaysia Berhad, Pharmaniaga Bhd, Simpor Pharma Sdn Bhd, EMBIL Pharmaceutical Co., Ltd., Nutramedica Incorporated, Halal Pharma International Ltd, Hovid Bhd, Bosch Pharmaceuticals (Pvt.) Ltd. among other prominent players.
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Key Segments of the Global Halal pharmaceuticals Market
- Drug Class Overview, 2015-2025 (USD Billion)
- Respiratory drugs
- Cardiovascular drugs
- Endocrine drugs
- Pain medications
- Allergies (cough & cold)
- Product Overview, 2015-2025 (USD Billion)
- Source Material Overview, 2015-2025 (USD Billion)
- Plant and plant derivatives
- Animals (compliant under religious laws)
- Synthetic and semi-synthetic source
- Recombinant DNA (rDNA)
- Regional Overview, 2015-2025 (USD Billion)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- Rest of Middle East & Africa
- North America
Some Major Points from Table of Contents:
Chapter 4 Global Halal Pharmaceuticals Market Overview by Drug Class
4.1 Global halal pharmaceuticals market share by drug class, 2018 & 2025
4.1.1 Global halal pharmaceuticals Market by drug class, 2015 – 2025
4.2 Respiratory drugs
4.2.1 Market size and projections, 2015 – 2025
4.3 Cardiovascular drugs
4.3.1 Market size and projections, 2015 – 2025
4.4 Endocrine drugs
4.4.1 Market size and projections, 2015 – 2025
4.5 Pain medications
4.5.1 Market size and projections, 2015 – 2025
4.6 Allergies (cough & cold)
4.6.1 Market size and projections, 2015 – 2025
4.7.1 Market size and projections, 2015 – 2025
Chapter 8 Company Profiles
8.1 Chemical Company of Malaysia Berhad
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Recent developments
8.2 Pharmaniaga Bhd
8.2.1 Company overview
8.2.2 Product offerings
8.2.3 Financial performance
8.2.4 Recent developments
8.3 Simpor Pharma Sdn Bhd
8.3.1 Company overview
8.3.2 Product offerings
8.3.3 Financial performance
8.4 EMBIL Pharmaceutical Co., Ltd.
8.4.1 Company overview
8.4.2 Product offerings
8.5 Nutramedica Incorporated
8.5.1 Company overview
8.5.2 Product offerings
8.6 Halal Pharma International Ltd.
8.6.1 Company overview
8.6.2 Product offerings
8.6.3 Financial performance
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