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Pharma Market in Kingdom of Saudi Arabia (KSA)
| 작성자 | 관리자 | 카테고리 | 전문가 인사이트 |
|---|---|---|---|
| 작성일 | 2016-05-11 | 조회수 | 1,885 |
| 원문 | |||
| 출처 | |||
Pharma Market in Kingdom of Saudi Arabia (KSA)
- 글 Kemal Hatip
(케말 하팁) - KHIDI 해외제약전문가
상임 컨설턴트
컨설팅 분야
- 인허가, 기술마케팅
- 중동지역(GCC) 의약품 해외수출 전략 및 시장개척
- 기술사업화 및 제품 공공개발과 제휴관리
* 의약품(제네릭, 바이오 포함), 바이오시밀러, 진단 및 의료기기
주요 약력
- 2009-현재 온코파마 중동아시아 디렉터
- 2002-2009 Al Razi Pharmacy Co. & IBN Khaldoon Drug Store
- 1997-2002 Novatis Pharma Service
- 1980-1996 Ciba Geigy Ltd
- 1979 이집트 AL MANSOURA University, Pharmaceutical Science 터키 약사
Saudi Arabia Pharmaceutical Market Valued at SAR 31.75bn, which is equal to US$ 8.47bn in 2014, making it the largest in MENA region and there, where is the biggest opportunity for the Pharma business in Middle East.
The long-term growth outlook is also positive and promising, which is supported by the Kingdom`s increasing focus on healthcare and social provision, as well as an accelerating modernizations and expansion of healthcare infrastructure, which all are going to play a long-term drivers of drugs sales in the kingdom.
There are twelve Pharma manufacturing facilities and all are manufacturing generic products, where 70% of their products is being exported to Asian & African markets and 30% is being consumed locally in the country, while generic drugs dominate the public hospitals in the Kingdom, the branded ones drive private healthcare sector there.
Saudi Arabia has witness healthy growth over the last few years, fuelled by liberaliza¬tion of healthcare sector by government, where they are, now a days trying to do a major change in the healthcare services system & structure by introducing a full country healthcare insurance for all citizens & expatriates living in the country, the private sector will provide health insurance for their employees and their families, and such a system will have a positive impact on the Pharma & healthcare businesses in the country, where generics also will be among the lines of medicines that will be affected positively in that respect as it will help to reduce and control the huge expenditure of the expensive branded medicines, a trend which will be pushed forward by the insurance companies and the government authorities in the country.
The International expectation for the Saudi Pharma Market is that the market forecast will grow at a compound annual growth rate (CAGR) of 8.7% in both local currency & in US$ terms, Market size will reach of SAR 73,14bn ( US$ 19.50bn) in 2025
In January, 2016, an Indian Pharmaceutical manufacturer called AURABINDO announced plans to build its first manufacturing facility in Saudi Arabia`s Industrial Valley-park of King Abdullah`s Economic City (KAEC), and they plans to manufacture generic drugs in the form of tablets & capsules, a step which support the company’s long-term goal to becoming Asia`s generic manufacturer, such manufacturing facility will help them market & sell their products in KSA & other GCC countries with the ability to cover all Middle East & African countries from there in their near future plan.
King Abdullah Economic City (KAEC) is a new city in Saudi Arabia, created to benefit business, Citizens & entire Kingdom of Saudi Arabia, the city is located strategically on the Red sea shore, which makes it in the heart of Middle East & GCC Countries and also opposite & close to the African continent, a city which can handle the world`s largest ships with new roads & rail ways network.
KAEC will continue to attract investments from multinational pharmaceutical companies, and foreign drug makers will look to expand their manufacturing capabilities to this region as part of market access strategy to penetrate Saudi Arabia`s and neighboring markets in Middle East & Africa.
KAEC will help diversify Saudi Arabia’s oil-based economy and there by maintain pharmaceutical expenditure growth over the long term, Currently growth in the Kingdom`s drug`s market is being driven by both public & private sectors investments, KAEC represent a long-scale innovative partnership between these two sectors, for multinational pharmaceutical companies to expand their manufacturing capacities. E.g. Pfizer & others
The generic Drugs sales in Saudi Arabia is favored by being supported by the government’s focus on cost – containment measure & also by pending patent expiration for some big brands in the market & world
Expectation indicate that spending on generic drugs in Saudi Arabia is going to increase from SAR 9.85bn (US$ 2.63bn) in 2015 to SAR 24.90bn (US$ 6.64bn) by 2025, representing a ten years CAGR of 9.7%
The generic drug market presently account for 35.6% of the prescription market, and constitutes just over 31% of the total Pharmaceutical expenditure
The development of healthcare spending in Saudi Arabia is driven by the following factors:
The development of healthcare spending in Saudi Arabia is driven by the following factors:
- 1. Population growth (31 Million)
- 2. Rising wealth level
- 3. Healthcare capacity Shortage
- 4. Strong Government support
- 5. New Country Health Insurance System
Also, it should be noted that a continual dependency on imported active pharmaceutical ingredients (APIs) is a significant problem that local generic drug manufacturers have to bear & manage in the Kingdom & Middle East.
The above may open an opportunity for the start of APIs local manufacturing in the kingdom in order to satisfy the needs for the region in the future.
For more information about King Abdullah Economic City (KAEC), please refer to the below website:
For more information & explanation about Middle East Markets, Sales & Marketing activities, please contact Mr. Kemal Hatip / KHIDI
- - Mobile # 010 3403 0032
- - Office # 043 710 0014
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