Saudi Arabia pharmaceutical drugs market growth is driven by various factors such as population growth, investment of companies in halal pharmaceuticals, decrease in fertility rates, and increase in life expectancy. The market is witnessing increasing investments by major market players and is also witnessing collaborations of several local and international companies with local generic manufacturers. Such factors are expected to facilitate robust, stable, and organic growth of Saudi Arabia pharmaceutical drugs market over the forecast period.

Market Dynamics

The major companies operating in Saudi Arabia pharmaceutical drugs market are focused on adopting strategies such as collaborations and partnerships for the development of drugs, R&D activities, and geographic expansions, this is expected to boost the Saudi Arabia pharmaceutical drugs market growth. For instance, in May 2016, GE Healthcare entered into a vaccine collaboration with the National Industrial Clusters Development Program (NICDP) under the Ministry of Energy, Industry and Mineral Resources, SaudiVax, and King Saud University, to enable vaccine self-sufficiency and pandemic preparedness in the Kingdom of Saudi Arabia (KSA).

Increasing prevalence of diabetes and cancer, in both male and female Arab population is expected to increase the growth of the Saudi Arabia pharmaceutical drugs market over the forecast period. For instance, according to the World Health Organization (WHO), 2019 report, Saudi Arabia recorded the second highest diabetes prevalence in the Middle East region while it recorded the seventh highest diabetes prevalence rate in the world. It is estimated that around 7 million of the population is diabetic and around 3 million people have pre-diabetes.

Moreover, according to the report of Globocan 2018 by WHO, the total number of new cases of cancer in both the sexes were 24,485 (across all ages) in Saudi Arabia in 2018. As per the same source, colorectal cancer was observed in the majority of males detected with cancer while breast cancer was observed in majority of women diagnosed with cancer.”

Key features of the study:

• This report provides an in-depth analysis of Saudi Arabia pharmaceutical drugs market, provides market size (US$ Million), and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
• It profiles leading players in the Saudi Arabia pharmaceutical drugs market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Pfizer Inc., Sanofi S. A., GlaxoSmithKline Plc., AstraZeneca Plc, Baxter International Inc., Life Care Group of Pharmacies, Tadawi Pharmacies, Planet Pharmacies (Zahrat Al Rawdah), Al-Safwwa Pharmacy, Al Nahdi Medical, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Tabuk Pharmaceuticals, Hikma Pharmaceuticals PLC, Jamjoom Pharmaceuticals Co., and Julphar.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics
• The Saudi Arabia pharmaceutical drugs market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have an ease in decision-making through various strategy matrices used in analyzing the Saudi Arabia pharmaceutical drugs market

Detailed Segmentation:

• Saudi Arabia Pharmaceutical Drugs Market, By Drug Type:
  • Generic Drugs
  • Branded Drugs
• Saudi Arabia Pharmaceutical Drugs Market, By Product Type:
  • Prescription Drugs
  • Over-the-counter (OTC) Drugs
• Saudi Arabia Pharmaceutical Drugs Market, By Application:
  • Cardiovascular
  • Musculoskeletal
  • Oncology
  • Anti-infective
  • Metabolic Disorder
  • Central Nervous System
  • Gastrointestinal
  • Respiratory
  • Hematology
  • Dermatology
  • Ophthalmology
  • Others (Nutraceutical, Dental and Veterinarian )
• Saudi Arabia Pharmaceutical Drugs Market, By Distribution Channel:
  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Pharmacy
• Company Profiles
  • Pfizer, Inc.*
    • Company Overview
    • Product Portfolio
    • Financial Performance
    • Recent Highlights
    • Strategies
  • Sanofi S. A.
  • GlaxoSmithKline Plc.
  • AstraZeneca Plc
  • Baxter International Inc.
  • Life Care Group of Pharmacies
  • Tadawi Pharmacies
  • Planet Pharmacies (Zahrat Al Rawdah)
  • Al-Safwwa Pharmacy
  • Al Nahdi Medical
  • Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
  • Tabuk Pharmaceuticals
  • Hikma Pharmaceuticals PLC
  • Jamjoom Pharmaceuticals Co.
  • Julphar

“*” marked represents similar segmentation in other categories in the respective section.