Saudi Arabia Pharmaceutical Market Forecast Revised in a New FMI Report as COVID-19 Projected to Hold a Massive Impact on Sales in 2026
VALLEY COTTAGE, N.Y. – Future Market Insights (FMI) offers a 10-year forecast of the Saudi Arabia pharmaceutical market between 2016 and 2026. In terms of value, the market is expected to register a CAGR of 9.0% over the forecast period. This study demonstrates market dynamics and trends that influence the current environment and future status of the pharmaceutical market in Saudi Arabia over the forecast period.
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.
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.
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.
The Saudi Arabia pharmaceutical market in terms of product, diseases and distribution channel are analyzed in terms of Basis Point Share (BPS) to understand individual segment’s relative contributions to market growth. This detailed level of information is important for identifying various key trends in the pharmaceutical market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the pharmaceutical market.
In the final section of the report, competitive landscape of the coronary stents market is included to provide report audiences with a dashboard view, based on categories of providers in the value chain, their respective product portfolios and key developments. Key categories of providers covered in the report are drug manufacturers and distributors in the country. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the pharmaceutical market value chain and potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on in-depth assessment of capabilities and successes in the Saudi Arabia pharmaceutical market.
Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings, SWOT analysis and recent developments in the KSA pharmaceuticals market. Key manufacturers included in the report are SPIMACO, Tabuk Pharmaceuticals Manufacturing Co., Julphar, Jamjoom Pharma, Glaxosmithkline plc. Pfizer Inc., Novartis AG and Sanofi.
- Product Type
- Prescription Products
- Branded Drugs
- Generic Drugs
- Over The Counter (OTC) Products
- Prescription Products
- Disease Type
- Cardiovascular Diseases
- Infectious Diseases
- Other Diseases
- Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
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- Tabuk Pharmaceuticals Manufacturing Co.
- Jamjoom Pharma
- Glaxosmithkline plc.
- Pfizer Inc.
- Novartis AG
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