Those in the industry also suggest that more needs to be done in terms of guidance regarding what lines of production are open to local investment, with the saudi food and drug authority urged to encourage local firms to target pharmaceuticals by offering competitive pricing and improving the registration process.
The pharmaceutical market in saudi arabia is set to grow from $45 billion in 2015 to $6 billion by 2020, according to research and consulting firm globaldata the company’s latest report states that saudi arabia is one of the largest pharmaceutical markets in the middle east, and its impressive. In saudi arabia medicine industry is divided into two sectors one is pharmaceutical manufacturers and second is pharmaceutical distributors the pharmaceutical industry of saudi arabia is the industry of middle east and saudi arabia is working a lot in the growth of it. Boehringer ingelheim also lately announced an expansion plan in saudi arabia's pharmaceuticals industry, starting with medicines for diabetes being the largest pharma marketplace in the gulf, the ksa also indicates a gateway for other gcc markets moreover, the sfda offers new growth opportunities for pharmaceutical players.
Other dimensions in the undermentioned analysis will give a more comprehensive position of the industry economic competitive review with the find of oil militias in saudi arabia in 1930s, the state turned into a first-world economic system ( shoult, 2006 ). Saudi arabia pharmaceutical packaging market analysis includes the industry competitiveness, market trends, investment scope, market forecast to 2022 etc. Nawar adds, “saudi arabia is an important market for gsk, both in terms of improving medicines for patients and in developing our business in the gulf the saudi arabia pharmaceutical market is the largest among the gulf cooperation council countries and the whole middle east. Saudi arabia’s pharmaceutical market declines marginally by 05% in 2016 to sar247 billion households’ spending on pharmaceuticals decreases by 61% in monetary terms during the year, due to substantial price reductions due to pharmaceutical price harmonisation process in the region.
The geographic range of this paper is the kingdom of saudi arabia however, big infirmaries and establishments have entree to medicines through international agents ( business monitor international, 2010 ) doing the market unfastened to international competition many pharmaceutical companies in the saudi market are international companies ( ims health, 2010 ). Pharmaceutical industry is a challenge in both the developed and the developing countries if a company wants to survive, it should be able to compete well in the domestic and in the international markets the main purpose of this paper is to examine the competitiveness of the saudi pharmaceutical industry (spi) using porter 5 forces analysis.
Many pharmaceutical companies in the saudi market are international companies ( ims health, 2010 ) six out of the top 10 pharmaceutical companies, as measured by their 2009 gross revenues, in the saudi market are international companies five of them are american ( ims health, 2010 ). The aim of this paper is to describe and analyze the competitiveness of the pharmaceutical industry in saudi arabia, what new companies need to consider before entering this market and evaluation of such investment.
6 saudi arabian pharmaceuticals in this context, saudi arabia offers significant potential underlying the interest of big pharma in the kingdom is a strong consumer preference for branded drugs today, branded pharmaceutical products account for around 80% of the total pharmaceutical sales in saudi arabia.
Bmi's saudi arabia pharmaceuticals & healthcare report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the saudi arabia pharmaceutical and healthcare industry.