Dallas, TX -- (ReleaseWire) -- 04/14/2014 -- Saudi Arabia Pharmaceutical market has recorded significant growth over the years owing to various factors like increasing ageing population mostly in the above 60 years bracket, changing demographics and rise in the incidence of lifestyle diseases, increased spending power, result driven government initiatives to promote the growth of indigenous pharmaceutical companies. Inspite of all the progress, the pharmaceutical market in the Saudi Arabia is still in an emerging phase, and the drug manufacturing is at a relatively nascent stage owing to many challenges, which need to be resolved.
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Saudi Arabia 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. Government is taking efforts to promote FDI in the pharmaceutical sector especially directed to help development of skills of local companies to manufacture patented medicines as well. Policies like free trade agreements have played a significant role in encouraging foreign investments. Increased penetration of the healthcare sector by insurance providers, price regulation guidelines to ensure uniformity in pricing and dedicated healthcare reforms, have further ensured growth of pharmaceutical market in recent years.
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Saudi Arabia is expected to emerge as one of the fastest growing markets in future. The country is one of the most developed and technologically advanced medical sectors in the GCC Region with modern equipment and amenities. Pharmaceuticals products sales in Saudi Arabia are expected to surpass US$ 7 Billion by 2018 as compare to US$ 4 Billion 2012.
“Saudi Arabia Pharmaceutical Market Opportunity Analysis” gives comprehensive insight on following aspects related to pharmaceutical market:
Drug Pricing system
Market by segment: Generics, Branded & OTC
Favorable Market dynamics
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Major points from Table of Contents (http://www.marketreportsonline.com/270352-toc.html) are listed below:
Figure 1-1: Saudi Arabia Pharmaceutical Market (US$ Billion), 2012-2018
Figure 1-2: Saudi Arabia Pharmaceutical Market by Segment (US$ Billion), 2012-2018
Figure 1-3: Saudi Arabia Pharmaceutical Market by Segment (%), 2012 & 2018
Figure 1-4: Factors Driving Growth in Saudi Pharmaceuticals Market
Figure 1-5: Components of Drug Pricing System in Saudi Arabia
Figure 1-6: Burden of Communicable & Non Communicable Diseases in Saudi Arabia, 2012 & 2030
Figure 1-7: Leading Causes of Death in Saudi Arabia, 2011
Figure 2-1: Saudi Arabian Branded Drugs Market Value (US$ Billion), 2012-2018
Figure 2-2: Saudi Arabian Generics Drug Market Value (US$ Billion), 2012-2018
Figure 2-3: Saudi Arabian OTC Drug Market(US$ Billion), 2012-2018
Figure 3-1: Share of Saudi Arabia in GCC Pharmaceuticals Market, 2012
Figure 3-2: Government Expenditure on Health as a % of Total Health Expenditure, 2011
Figure 3-3: Expenditure on Health as a % of Total Government Expenditure, 2011
Figure 4-1: Saudi Arabia Drug Approval Process
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