Industry Trend Analysis - Competing Market Forces Affect Opportunities For Pharmaceutical Firms - OCT 2017


BMI View : Saudi Arabia ' s pharmaceutical and healthcare markets will continue to stimulate interest amongst generic and innovative drugmakers alike. Generic drug penetration will grow as local production increases and cost-containment remains high on the government agenda - outpacing growth in the patented drug market. Innovative medicines will maintain a leading share of the overall pharmaceutical market , however, due to the lack of generic s awareness among consumers and an underlying preference for branded prescribing among physicians - although this will improve over the long term.

Commercial opportunities for generics and innovative pharmaceutical firms are not mutually exclusive in Saudi Arabia. Rather, due to the growing demand for chronic-disease treatments, pressure on the government's healthcare budget, and new product launches, we uphold a positive outlook for both of the medicine sub-sectors in the Kingdom.

Generic Medicines' Market Share To increase

Growing Awareness Of Cheaper Alternatives
Saudi Arabia - Generic Medicine Share Of Total Drug Market (%)
f = BMI forecast. Source: UN Comtrade, BMI

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