Saudi Arabian Pharma Market Looks Very Promising

Al Bawaba reported that Saudi Arabia’s pharmaceutical market is very healthy and is estimated to grow 4.7 percent annually, reaching $4.7 billion by 2016.

As quoted in the market news:

The primary drivers behind this shift include expiring patents and generic competition, pricing pressures, heightened regulatory scrutiny, expansion into emerging markets, increasing alliances and acquisitions, and a persistent economic slowdown, the report said.

“To grow in this challenging climate, the life sciences industry is transitioning away from a primary-care, small-molecule-driven sales model, towards targeting specialist secondary care indications,” said Herve Ballantyne, healthcare industry leader, Deloitte Middle East.

Click here to read the full Al Bawaba report.