GCC Retail Pharmacy Market, By Product (Skincare Products, Cold & Flu Medications, Dental Care Products, Weight Loss Supplements, Vitamins & Dietary Supplements); By Drug Type (Over the Counter (OTC) Drugs, Prescription Drugs); By Type (Online, Offline),

GCC Retail Pharmacy Market, By Product (Skincare Products, Cold & Flu Medications, Dental Care Products, Weight Loss Supplements, Vitamins & Dietary Supplements); By Drug Type (Over the Counter (OTC) Drugs, Prescription Drugs); By Type (Online, Offline), Trend Analysis, Competitive Landscape & Forecast, 2019–2029


GCC Retail Pharmacy Market Size Booming to Touch USD 50.85 Billion by 2029

GCC retail pharmacy market is flourishing because of growing population, high life expectancy, rising prevalence of chronic diseases, and lifestyle-related conditions.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC retail pharmacy market size at USD 29.68 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC retail pharmacy market size to grow at a significant CAGR of 9.39% reaching a value of USD 50.85 billion by 2029. Major growth drivers for the GCC retail pharmacy market include an increasing birth rate and an influx of expatriate workers. This demographic growth has led to increased demand for healthcare services, including pharmaceutical products. and accelerating AI deployment across various sectors. Governments in the GCC region have been investing significantly in their healthcare infrastructure, leading to increased healthcare spending. This has positively impacted the pharmacy sector, as it translates into higher consumer purchasing power for pharmaceutical products. The pharmaceutical market in the GCC region has been expanding, with more international pharmaceutical companies establishing a presence in these countries. This has contributed to a wider range of available medications and increased competition among retail pharmacies. Another driving factor is that each GCC country has its own regulations governing the pharmaceutical and retail pharmacy sectors. Pharmaceutical companies and retailers must navigate different regulatory frameworks when operating across multiple GCC countries. Also, the retail pharmacy sector in the GCC has been witnessing digital transformation, with the adoption of e-pharmacy platforms and online sales channels. This shift has been accelerated by the COVID-19 pandemic, which prompted consumers to seek more convenient and contactless ways of purchasing medicines and healthcare products. However, dependence on imports and counterfeit and substandard drugs are anticipated to restrain the overall market growth.

GCC Retail Pharmacy Market – Overview

The GCC retail pharmacy market refers to the pharmaceutical retail sector operating within the Gulf Cooperation Council (GCC) region, which consists of six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE). The GCC retail pharmacy market involves the sale of pharmaceutical products, medical supplies, and healthcare items to consumers through physical retail outlets, online platforms, or a combination of both. The market caters to the growing healthcare needs of the GCC population, encompassing various medications, over-the-counter drugs, and other healthcare essentials. It is influenced by factors such as population growth, increasing chronic diseases, healthcare expenditure, digital transformation, and unique regulatory environments across the GCC countries.

Impact of COVID-19 on GCC Retail Pharmacy Market

COVID-19 pandemic had a positive impact on the GCC retail pharmacy market. During the pandemic, there was an increased demand for pharmaceutical products, medical supplies, and personal protective equipment (PPE), such as masks and sanitizers. Retail pharmacies experienced a surge in online and in-store sales as consumers stocked up on essential healthcare items. However, supply chain disruptions and shortages posed challenges for some pharmacies, leading to price fluctuations and delayed deliveries. Moreover, social distancing measures and lockdowns affected foot traffic in physical stores. The COVID-19 pandemic accelerated the adoption of e-pharmacy platforms, prompting pharmacies to enhance their digital capabilities.

GCC Retail Pharmacy Market – By Drug Type

Based on drug type, the GCC retail pharmacy market is bifurcated into Over the Counter (OTC) Drugs and Prescription Drugs segments. The prescription drugs segment is expected to hold a higher market share during the forecast period by drug type. This can be attributed to increasing chronic diseases, growing healthcare awareness, and the need for qualified medical guidance. Government regulations, insurance coverage, and a diverse expatriate population also contribute to its dominance. Chronic conditions necessitate long-term management with prescription medications, leading to higher demand. Consumers prefer prescription drugs with professional guidance for safety and efficacy. Adherence to regulations ensures legality and trust. Health insurance coverage makes prescription drugs more affordable, further boosting their market share.

Competitive Landscape

Major players operating in the GCC retail pharmacy market include Al Nahdi Medical Company, Julphar Gulf Pharmaceutical Industries, Tadawi General Trading Company, United Pharmacies, Al-Dawaa Pharmacies, Aster Pharmacy, Al Borg Medical Laboratories, BinSina Pharmacy, Al Jishi Corporation, Al-Dawaa Pharmacies Group, Boots Pharmacy, Pharma Zone, Life Pharmacy, Al Nahdi Medical Company, and Al Mojil Drug Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of GCC Retail Pharmacy Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in GCC Retail Pharmacy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.


1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. GCC Retail Pharmacy Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Growing population and increasing life expectancy
3.2.1.2. Rising chronic diseases and lifestyle-related conditions
3.2.2. Restraints
3.2.2.1. Dependence on imports
3.2.2.2. Counterfeit and substandard drugs
3.2.3. Opportunities
3.2.3.1. E-commerce and digitalization
3.2.3.2. Health awareness and preventive care
3.2.4. Challenges
3.2.4.1. Competition from large chains
3.2.4.2. Price sensitivity and insurance coverage
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. GCC Retail Pharmacy Market Overview
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Billion)
4.2. Market Share & Forecast
4.2.1. By Product
4.2.1.1. Skincare products
4.2.1.2. Cold and flu medications
4.2.1.3. Dental care products
4.2.1.4. Weight loss supplements
4.2.1.5. Vitamins and dietary supplements
4.2.1.6. Other
4.2.2. By Drug Type
4.2.2.1. Over the counter (OTC) drugs
4.2.2.2. Prescription drugs
4.2.3. By Type
4.2.3.1. Online
4.2.3.2. Offline
5. Competitive Landscape
5.1. List of Key Players and Their Offerings
5.2. GCC Retail Pharmacy Company Market Share Analysis, 2022
5.3. Competitive Benchmarking, By Operating Parameters
5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid–19 on GCC Retail Pharmacy Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
7.1. Al Nahdi Medical Company
7.2. Julphar Gulf Pharmaceutical Industries
7.3. Tadawi General Trading Company
7.4. United Pharmacies
7.5. Al-Dawaa Pharmacies
7.6. Aster Pharmacy
7.7. Al Borg Medical Laboratories
7.8. BinSina Pharmacy
7.9. Al Jishi Corporation
7.10. Al-Dawaa Pharmacies Group
7.11. Boots Pharmacy
7.12. Pharma Zone
7.13. Life Pharmacy
7.14. Al Nahdi Medical Company
7.15. Al Mojil Drug Company
7.16. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
9.1. Qualitative Research
9.1.1. Primary & Secondary Research
9.2. Quantitative Research
9.3. Market Breakdown & Data Triangulation
9.3.1. Secondary Research
9.3.2. Primary Research
9.4. Breakdown of Primary Research Respondents, By Region
9.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 GCC Retail Pharmacy Segmentation
Figure 2 GCC Retail Pharmacy Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 GCC Retail Pharmacy Market Size, By Value (USD Billion), 2019–2029
Figure 5 GCC Retail Pharmacy Market Share, By Product, By Value, 2019–2029
Figure 6 GCC Retail Pharmacy Market Share, By Drug Type, By Value, 2019–2029
Figure 7 GCC Retail Pharmacy Market Share, By Type, By Value, 2019–2029
List of Tables
Table 1 GCC Retail Pharmacy Market Size, By Value (USD Billion), 2019–2029
Table 2 GCC Retail Pharmacy Market Size, By Product, By Value, 2019–2029
Table 3 GCC Retail Pharmacy Market Size, By Drug Type, By Value, 2019–2029
Table 4 GCC Retail Pharmacy Market Share, By Type, By Value, 2019–2029
Table 5 Al Nahdi Medical Company Overview
Table 6 Al Nahdi Medical Company Financial Overview
Table 7 Julphar Gulf Pharmaceutical Industries Company Overview
Table 8 Julphar Gulf Pharmaceutical Industries Financial Overview
Table 9 Tadawi General Trading Company Overview
Table 10 Tadawi General Trading Company Financial Overview
Table 11 United Pharmacies Company Overview
Table 12 United Pharmacies Financial Overview
Table 13 Al-Dawaa Pharmacies Company Overview
Table 14 Al-Dawaa Pharmacies Financial Overview
Table 15 Aster Pharmacy Company Overview
Table 16 Aster Pharmacy Financial Overview
Table 17 Al Borg Medical Laboratories Company Overview
Table 18 Al Borg Medical Laboratories Financial Overview
Table 19 BinSina Pharmacy Company Overview
Table 20 BinSina Pharmacy Financial Overview
Table 21 Al Jishi Corporation Company Overview
Table 22 Al Jishi Corporation Financial Overview
Table 23 Al-Dawaa Pharmacies Group Company Overview
Table 24 Al-Dawaa Pharmacies Group Financial Overview
Table 25 Boots Pharmacy Company Overview
Table 26 Boots Pharmacy Financial Overview
Table 27 Al Mojil Drug Company Overview
Table 28 Al Mojil Drug Company Financial Overview
Table 29 Other Prominent Players Company Overview
Table 30 Other Prominent Players Financial Overview

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings