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,

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), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)

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), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies)

Pharmaceutical drugs, often simply referred to as "drugs" in common parlance, are substances used for the treatment, prevention, or relief of disease or medical conditions in humans. They are available in various forms including pills, tablets, capsules, liquids, injections, creams, ointments, and others. Each drug is designed to interact with the body in a specific way to produce a desired therapeutic effect. Pharamceutical drugs are classified into two types, prescription drugs and Over-the-Counter (OTC) drugs. On the basis of their drug class, they are divided into generic drugs and branded drugs. Moreover, the Saudi Arabia pharmaceutical market is characterized by a high demand for both branded and generic pharmaceuticals. The government plays a significant role in the healthcare sector and is the primary purchaser of pharmaceuticals through various healthcare programs and facilities. The Saudi Food and Drug Authority (SFDA) is the regulatory body responsible for overseeing and regulating pharmaceuticals and healthcare products in the country. SFDA is responsible for approving and registering pharmaceutical products before they can be marketed in the country.

Market Dynamics

The key companies operating in the market are focusing on expansion initiatives to manufacture pharmaceutical drugs in Saudi Arabia, which is expected to propel the Saudi Arabia pharmaceutical drugs market growth over the forecast period. For instance, in March 2023, Prime Minister's Private Industry and Investment Adviser, Mr. Salman F Rahman announced that Beximco Pharmaceuticals, a Bangladesh-based pharmaceutical company, will start the production of medicines in the Kingdom of Saudi Arabia (KSA) from the next year (2024) under a joint investment of Bangladesh and the Kingdom of Saudi Arabia. Moreover, increasing product approvals in Saudi Arabia are expected to propel the growth of the Saudi Arabia pharmaceutical drugs market over the forecast period. For instance, in January 2023, Alvotech, a fully integrated specialty biopharmaceutical company, and Bioventure, a wholly-owned subsidiary of GlobalOne Healthcare Holding LLC (“GHH”), the healthcare division of Yas Holding LLC, announced that the Saudi Food & Drug Authority (SFDA) has approved the manufacturing and distribution of AVT02, a biosimilar for Humira (adalimumab), which is commonly indicated for the treatment of rheumatoid arthritis and several other inflammatory diseases. The biosimilar will be marketed as Simlandi in Saudi Arabia.

Key features of the study:

• This report provides an in-depth analysis of the Saudi Arabia pharmaceutical drugs market and provides market size (US$ Billion) and Compound Annual Growth Rate (CAGR) for the forecast period (2023-2030), considering 2022 as the base year. It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the Saudi Arabia pharmaceutical drugs market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
• The key companies covered as a part of this study include Pfizer Inc., Sanofi S. A., Daewoong Pharmaceutical Co., GlaxoSmithKline Plc., AstraZeneca Plc, Baxter International Inc., Astellas Pharma, Life Care Group of Pharmacies, Tadawi Pharmacies, Planet Pharmacies (Zahrat Al Rawdah), Al-Safwwa Pharmacy, Al Nahdi Medical, Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Tabuk Pharmaceuticals, Hikma Pharmaceuticals PLC, Jamjoom Pharmaceuticals Co., Julphar, Biocon Limited, and BeiGene
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The Saudi Arabia pharmaceutical drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Saudi Arabia pharmaceutical drugs market

Saudi Arabia Pharmaceutical Drugs Market Detailed Segmentation:

• By Drug Type:
• Generic Drugs
• Branded Drugs
• By Product Type:
• Prescription Drugs
• Over-the-counter (OTC) Drugs
• By Application:
• Cardiovascular
• Musculoskeletal
• Oncology
• Anti-infective
• Metabolic Disorder
• Central Nervous System
• Gastrointestinal
• Respiratory
• Hematology
• Dermatology
• Ophthalmology
• Others
• By Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Company Profiles
• Pfizer Inc.
• Sanofi S. A.
• Daewoong Pharmaceutical Co.
• GlaxoSmithKline Plc.
• AstraZeneca Plc
• Baxter International Inc.
• Astellas Pharma
• Life Care Group of Pharmacies
• Tadawi Pharmacies
• Planet Pharmacies (Zahrat Al Rawdah)
• Al-Safwwa Pharmacy
• Al Nahdi Medical
• Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO)
• Tabuk Pharmaceuticals
• Hikma Pharmaceuticals PLC
• Jamjoom Pharmaceuticals Co.
• Julphar
• Biocon Limited
• BeiGene