Saudi Arabia Pharmaceutical Market Witnessing Exponential Growth

The Saudi pharmaceuticals market has been growing significantly mainly on account of
provision of free medical and healthcare services by the government to its citizens.
“Saudi Arabia Pharmaceutical Market Development Analysis” Report Highlight:
 Market Overview
 Drug Pricing system
 Disease Prevalence
 Market by segment: Generics, Branded & OTC
 Favorable Market Dynamics
 Regulatory Framework
 Key Regulatory Enforcement Departments
The Saudi pharmaceuticals market was worth USD 4.40 billion in 2013, accounting for more
than 50% of all pharmaceutical products sales in the GCC region. Owing to factors like
increasing population, ageing, and affluence; modernization; and the establishment of more
private facilities, the Saudi pharmaceuticals market is poised to grow at a CAGR of 10% to
surpass the USD 7 billion mark by 2018. By virtue of these driving factors, the Saudi market
becomes one of the largest markets in the GCC group of countries.
The Saudi pharmaceuticals market has been growing significantly mainly on account of
provision of free medical and healthcare services by the government to its citizens. The
kingdom relies substantially on imports of pharmaceutical products, primarily from Europe, to
meet local demand as a result of insufficient domestic drug production and lack of indigenous
research capabilities.
The steps taken by the Saudi government to control prices of basic drugs coupled with
increasing insurance coverage is expected to lead to more domestic firms increasing their
manufacturing operations in the country. The lack of molecules is likely to lead to an
increasing demand for generics manufacturing in the country by the drug manufacturers.
For Report Sample Contact: avinash@kuickresearch.com

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