The significant rise in lifestyle-related diseases and the developments in healthcare infrastructure are expected to influence the demand for pharmaceuticals in Saudi Arabia. In 2016, the Saudi Arabia pharmaceutical market is anticipated to procure value worth US$ 5,209.5 Mn at a y-o-y growth of 6.0 % over 2015. The mounting demand for branded drug products will continue to incite the growth of the Saudi Arabian pharmaceutical market in 2016.
The demand for pharmaceuticals in Saudi Arabia is expected to register substantial growth owing to the increasing penetration of health insurance companies and the rising incidence rate of non-communicable diseases. Furthermore, the exceptional rise in the per capita income of Saudi Arabia is also expected to foster the demand for branded pharmaceutical drugs. Another key factor driving the growth of the pharmaceutical market in Saudi Arabia is the country’s strategic move to allow 100% FDI in the pharmaceuticals sector. Although, the shortage of profound indigenous research capacity in the pharmaceutical industry and the delayed registration of drug and medicine patents is expected to limit the expansion of the market in 2016 and beyond.
Request a report sample to gain comprehensive insights at
Based on the product type, the pharmaceutical market in Saudi Arabia is expected to witness an upsurge in the prescription-type branded drug products. In terms of market value, the branded drugs are estimated to reach US$ 2,760.8 Mn by 2016-end. The demand for generic drugs is projected to secure steady growth, attributing to the insisting promotion of generic drug adoption by healthcare insurance providers.
On the basis of the diseases, the pharmaceutical drugs used for treatment of cardiovascular diseases will continue exhibiting robust growth in 2016. The demand for cardiovascular medications will continue to surge due to the prominence of circulatory disorders in Saudi Arabia. Additionally, the rising prevalence of disorders related to body sugar levels is expected to make diabetes a rapidly growing disease-based sub-segment in the Saudi Arabia pharmaceutical market.
The pharmaceutical market in Saudi Arabia is also segmented on the basis of distribution channel, where retail pharmacies will continue to account for 80% market share compared to hospital pharmacies. The westernised modernisation of retail pharmacies in Saudi Arabia has led to the availability of a wide range drugs and medicinal products, thereby attaining a considerable growth in the retail pharmacy sub-segment in 2016 and further.
For any Queries Related with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gc-1733
The rising resource potential in Saudi Arabia is projected to positively reform the production environment for pharmaceutical manufacturers. In order to expand the market’s size, structuring alliances with well-established native companies is predicted to be a key strategy for global pharmaceutical leaders. The key players in the Saudi Arabia pharmaceutical market include Novartis AG, SPIMACO, Pfizer Inc., and Glaxosmithkline plc., Jamjoom Pharma, and Tabuk Pharmaceutical Manufacturing Co. among others.
Long-term Outlook: The Saudi Arabia pharmaceutical market is expected to expand at a CAGR of 9.0% over the forecast period 2016-2026. In terms of market value, the pharmaceutical market in Saudi Arabia is estimated to be worth US$ 12,281.4 Mn by the end of forecast period.
We Offer tailor-made Solutions to fit Your Requirements, Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gc-1733
Explore FMI’s Extensive ongoing Coverage on Healthcare Domain
Pharma and Healthcare Social Media Market – Pharma and healthcare social media marketing is an area that is extremely relevant to the modern, digital age, where stakeholders in the pharmaceuticals and healthcare industries are reaching out to their potential customers through digital, social media platforms.
Pharmacy And Drug Store Franchises Market – A critical driver for the Pharmacy & Drug Store Franchises market is the widespread adoption of generic drugs. These drugs are identical to branded drugs in dosage, safety, strength, method of administration, characteristics & purpose of use.
Pharmaceuticals Excipients Market – The growth of the global market of pharmaceutical excipients is driven by the factors such as growing demand of functional excipients, increasing demand of generics, and emergence of new excipients in the market.
Infusion Pharmacy Management Market – Infusion therapy is type of medication through a needle or catheter. Infusion therapy is prescribed to patient only when patient condition is severe or oral medication are less effective.
Anti-Neoplastic Pharmaceutical Agents Market – Increasing prevalence of cancer cases, technological advancements, increasing funding from government bodies, and favorable reimbursement policies are the major factors driving the growth of global anti-neoplastic pharmaceutical agents market.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: firstname.lastname@example.org
For Media Enquiries: email@example.com