MENA Generic Oncology Drug

MENA Generic Oncology Drug

The several factors that are driving the MENA generic oncology drug market are the precursors for the impressive growth of the market in the future. That is, the increased incidence of cancer and expanding ratio of the elderly population create a need for effective and cheap intervention. Such measures as the development of healthcare facilities and enhancement of access to medicines through policies and other measures, contribute to the growth in the market. At the same time, the increasing use of generics catalyzed by policies that support low-cost medicines and the patent expiry of several leading oncology drugs present market opportunities for these stakeholders. The availability of generics in oncology drugs is boosted by the increased advancements in the production and distribution of drugs in the area.

The MENA generic oncology market is expected to grow at a strong CAGR of 3% during the forecast period owing to the availability of generic oncology drugs to underserved areas in the MENA region, improving access to essential cancer treatments, collaboration between pharmaceutical companies, healthcare providers, and government agencies can facilitate the development, distribution, and affordability of generic oncology drugs, investment in manufacturing infrastructure for generic oncology drugs within the MENA region can create opportunities for local production, job creation, and technology transfer. For instance, in December 2023, Saudi Arabia announced an investment of 2.5 million USD in global cancer treatment advancement.

• Based on the molecule, the market is segmented into large molecules and small molecules. The large molecule segment held a dominant share of the market in 2023. Owing to the increasing adoption of large-molecule drugs, such as monoclonal antibodies and therapeutic proteins. Owing to their specificity, these biologics provide personalized treatment profiles with relatively minimal side effects compared to conventional chemotherapy. With the progression of modern approaches to biotechnology, it becomes increasingly possible to create biosimilars that expand the choice of affordable therapies for cancer patients in the MENA region.
• Based on the route of administration, the market is segmented into oral and parenteral. The oral segment held a dominant share of the market in 2023. Due to their convenience, improved patient adherence, and reduced healthcare costs associated with outpatient care. Oral oncology drugs make it easier for the patient to interact with their treatment program since they can take the drugs from home, and with lesser visits to the hospital. This trend is most advantageous in the MENA part of the World since reaching most healthcare facilities sometimes may be very difficult in rural areas.
• Based on the distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. Among these, the online pharmacies category is to witness higher CAGR during the forecast period by offering convenience, accessibility, and cost-effectiveness to patients. As many nations advance toward configuring more efficient systems of internet-based prescription provision, patients can independently purchase prescribed medicines online from pharmacies, which allows them to receive their medications sans publicity, which is important for those suffering from such diseases as cancer. Increasing internet connectivity and the adoption of internet retailing in the MENA countries suggest that the proportion of generic oncology drugs sold by online pharmacies will steadily rise in the future years.
• For a better understanding of the market adoption of the generic oncology drug industry, the market is analyzed based on its MENA Countries' presence in Saudi Arabia, UAE, Oman, Qatar, and the Rest of MENA Countries. Saudi Arabia accounted for the largest market, and it continues to have the largest market share in the forecast period. As the trends in the mentioned region show, there is a higher incidence of cancer cases and because of this, there is a need for cheap treatment since generic medicines are offered. The increase in public healthcare expenditure and government policies aimed at enhancing healthcare facilities and access to medicines add to this demand’s strength. Moreover, the important market-driving elements embrace the policies of the governments with the purchase and encouragement of utilization of generic medicines coupled with the manufacture of these drugs in the local market. These factors altogether make the Saudi Arabian generic oncology drug market a favorable ground for growth and compete for the market with advanced oncology drugs to provide patients affordable cancer treatment options under the licenses of specialty healthcare-providing organizations while encouraging other investors and manufacturers to invest in this oncology drug market.
• Some of the major players operating in the market include Cipla; Lilly; GSK plc; Sanofi; Teva Pharmaceutical Industries Ltd.; Novartis AG; Lupin; Johnson & Johnson Services, Inc.; Takeda Pharmaceutical Company Limited; AstraZeneca.