Read here the market research report on the “Saudi Arabia Pharmaceuticals Market" published by CMI Team

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2. • .Saudi Arabia Pharmaceutical Drugs Market, by Drug Type
(Generic Drugs and Branded Drugs), by Product Type
(Prescription Drugs and Over-the-counter (OTC) Drugs), by
Application (Cardiovascular, Musculoskeletal, Oncology, Anti-
infective, Metabolic Disorder, Central Nervous System,
Gastrointestinal, Respiratory, Hematology, Dermatology,
Ophthalmology, and Others (Nutraceutical, dentals and veterian)),
by Distribution Channel (Hospital Pharmacy, Retail Pharmacy , and
Online Pharmacy ), and by Region (North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa) - Size, Share,
Outlook, and Opportunity Analysis, 2020 - 2027
SAUDI ARABIA PHARMACEUTICAL
DRUGS MARKET ANALYSIS (2020-2027)

3. • Saudi Arabia pharmaceutical drugs market includes medicinal
products sold as patented/prescription and OTC products for
various ailments in hospitals and retail pharmacies. Patented
products are available as branded drugs and generic drugs include
both branded generics and non-branded ones.
• Strategic agreements with multinational pharmaceuticals are
expected to boost growth of the Saudi Arabia pharmaceutical
market. For instance, in April 2020, SPIMACO Addwaeih signed
an agreement with Amgen Inc. (a U.S.-based company) to localize
the marketing rights and transfer the technology of some
manufacturing steps of high quality biotechnology products that
are used to treat immunological diseases. This is in line with Saudi
Arabia's Vision 2030 to encourage the localization of high
technology in the pharmaceutical industries.
• The Saudi Arabia pharmaceutical drugs market is estimated to be
valued at US$ 10,191.4 million in 2020 and is expected to exhibit
a CAGR of 7.3% during the forecast period (2020-2027).

4. New Development
• Factors such as investments, research and development of novel medicines targeting
COVID 19 as well as funding by various companies operating in Saudi Arabia
pharmaceuticals drugs market are expected to drive the Saudi Arabia pharmaceuticals
drugs market growth during this COVID 19 pandemic.
• For instance, in March 2020, the government of Saudi Arabia announced that it donated
US$ 10 million as financial support to the World Health Organization (WHO). The
money is allocated for research and development of vaccines, diagnostics, and
therapeutics.
• In April 2020, the Coalition for Epidemic Preparedness and Innovations (CEPI) and
Gavi, the Vaccine Alliance announced that the Group 20 of Kingdom of Saudi Arabia
committed US$ 150 million for development of COVID-19 vaccine and invested in the
manufacturing capacity required to produce a safe and effective vaccine for covid-19
infection. CEPI is working with Curevac, Inovio Pharmaceuticals, Moderna, Novavax,
The University of Hong Kong, The University of Oxford, The University of Queensland,
and a consortium led by Institut Pasteur for COVID-19 vaccine development projects.
Saudi Arabia Pharmaceutical Drugs
Market - Impact of Coronavirus
(Covid-19) Pandemic

5. Strategies
• The coronavirus (COVID 19) pandemic and lockdown in various
countries across the globe have impacted the financial status of
businesses in all sectors. Private healthcare sector is one of the
sectors, which is majorly impacted by the COVID 19 pandemic.
Saudi Arabia Government, multinational pharmaceutical
companies, and local manufacturers are implementing various
strategies to help the residents of Saudi Arabia during this
COVID-19 pandemic.
• For instance, in April 2020, Saudi Arabia's National Unified
Procurement Company (NUPCO) and a Chinese company ‘Huo-
yan Laboratories’ - COVID-19 testing labs developed by Chinese
genomics BGI Group, signed a cooperation agreement in Riyadh
to build six major laboratories including a mobile laboratory to
increase the country's coronavirus testing capacity. After
finishing, the laboratories will boost local coronavirus testing
capacity to 50,000 people per day and provide 9 million testing
kits.

6. Figue 1: Saudi Arabia Pharmaceutical Drugs
Market Share (%) Analysis, By Drug Type,
2020

7. The major companies operating in Saudi Arabia pharmaceutical drugs market are
focused on adopting strategies such as collaborations and partnerships for
development of drugs, R&D activities, and geographic expansions, which is
expected to boost the Saudi Arabia pharmaceutical drugs market growth
For instance, in May 2016, GE Healthcare entered into a vaccine collaboration with
the National Industrial Clusters Development Program (NICDP) under the Ministry
of Energy, Industry and Mineral Resources, SaudiVax, and King Saud University, to
enable vaccine self-sufficiency and pandemic preparedness in the Kingdom of Saudi
Arabia (KSA).
Major players in the market are focused on partnering with educational institutes for
development of novel drugs to treat various diseases. For instance, in April 2017,
SPIMACO and King Saud University signed a memorandum of understanding in the
fields of drug development and training of graduates of the Faculty of Pharmacy.
The deal also aims to promote the profession of pharmacy and provide treatment
services by trainee students in community pharmacies.
Other prominent players in the market are engaged in adopting partnership strategies
to expand their geographic presence in Saudi Arabia. For instance, in February 2020,
Grifols, a Spain-based pharmaceutical company and the Public Investment Fund of
Saudi Arabia announced a deal to build a network of plasma collection centers and
other facilities for the production of plasma medicines in Saudi Arabia.

9. • Saudi Arabia pharmaceutical drugs market growth is expected to be hampered in
the near future, owing to increasing drug recalls by the Ministry of Health (MOH)
Saudi Arabia.
• For instance, in August 2019, Julphar (a Saudi Arabia-based pharmaceutical
company) recalled a single batch of Laxocodyl suppository (10mg) due to a
labeling error on the blister pack. Laxocodyl is used to treat constipation in
adults, however, the label on the blister pack in batch 0093 incorrectly stated
that the product is for children. The company, in full cooperation with the UAE
Ministry of Health and Prevention, issued an immediate order to recall the batch
and worked with its distributors to ensure that all boxes in the specified batch
were returned.
Saudi Arabia Pharmaceutical
Drugs Market - Restraints

10. Figure 2: Saudi Arabia Pharmaceutical Drugs
Market Value (US$ Mn) & Y-o-Y Growth (%),
2017-2027

11. • Key players operating in the Saudi Arabia pharmaceutical drugs market include
Pfizer, Inc., Sanofi S. A., GlaxoSmithKline Plc., AstraZeneca Plc, Baxter
International Inc., Saudi Pharmaceutical Industries & Medical Appliances
Corporation (SPIMACO), Tabuk Pharmaceuticals, Hikma Pharmaceuticals PLC,
Jamjoom Pharmaceuticals Co., and Julphar.
•
Saudi Arabia Pharmaceutical Drugs
Market - Competitive Landscape

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