Alpen Capital’s GCC Pharmaceutical sector report assesses growth potential of the Pharmaceutical industry by examining a variety of driving forces, along with the noteworthy trends and key challenges. The report also provides a long-term industry outlook and proposes recommendations that could help attract higher foreign investments, bring regional drug prices closer to the world average, and aid the overall market growth.
The GCC pharmaceutical industry is expected to experience sustainable growth in the medium to long term. Increased domestic production, foreign investments, and consumption of generics are likely to support the market’s evolution. These factors are supported by growth drivers such as population growth, increasing life expectancy and growing income levels which will further enhance the expansion of the sector.
The GCC pharmaceutical sector has witnessed considerable progress over the years on the back of favorable demographic and economic factors, alongside strong government support for healthcare Expansion of pharmaceutical sales in Qatar and Bahrain is projected to outpace the overall regional growth rate, thus translating into a higher market share of these countries at the regional level going forward. The remaining Gulf countries are forecast to either maintain a stable share or experience a decline in their representation in the GCC pharmaceutical industry. Nevertheless, Saudi Arabia is expected to maintain its position as the largest pharmaceutical market within the Gulf in the foreseeable future. The UAE is also likely to retain its ranking as the second largest pharmaceutical market.
For more details please click here to access the complete version of the GCC Pharmaceutical Industry Report.