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MENA Pharma Market Expansion: Key Players, Growth Drivers, and Future Trends
The Middle East and North Africa (MENA) OTC and pharma market is a dynamic and rapidly evolving sector. It is expected to grow at CAGR of around 7,2%, outpacing the global growth rate and expectedly reaching approximately USD 68 bln by 2035. This significant growth projection highlights the region’s increasing importance in the global pharma landscape.
MENA Market Overview, Key Drivers and Trends
Figure 1. MENA Rx & OTC Market: Key Players, Segments & Forecast
The recent active growth of the consumer health and pharma market in the MENA region has been substantially driven by the investments of multinational corporations, which dominate the market. At the same time, there is an increasing number of local companies that drive the growth of the market, incl. Hikma Pharmaceuticals from Jordan, Tabuk Pharmaceuticals and Spimaco from Saudi Arabia.
Within the Middle East, the retail channel dominates the market in terms of values and sales, while the share of hospital channels continues to steadily grow.
Additionally, the Middle East governments are investing heavily in health tech and medical technology. The value of health tech firms in the region has increased substantially, supported by funds such as the USD 250 mln iGan Arabia fund aimed at MedTech innovation.
Figure 2. Key Market Drivers and Trends in the Pharma Market in the MENA Region
MENA Pharma Market: Key Players & Characteristics
- Saudi Arabia (KSA) is the largest pharma market in the MENA region, forecasted to surpass USD 22 bln by 2035 at a CAGR of 6,3%. The market growth is driven primarily by the hospital sector, which accounts for over 50% of total sales. Hikma Pharma is a leading player in this market.
- The United Arab Emirates (UAE) is another important player in the MENA region, expected to reach USD 15 bln by 2035 at an impressive CAGR of 12%. The market is dominated by chronic therapeutic areas, with significant growth seen in newer generation Type II antidiabetics.
- Egypt, the second-largest market in the region, has faced challenges with a decline in overall growth. However, the hospital channel in Egypt saw growth, contributing to the country’s sales.
- Other markets, such as Morocco, Oman, Qatar, Kuwait, Bahrain, etc. present interesting opportunities for new pharma market entrants as well.
Future Outlook of the MENA region
The MENA region is poised for continued growth in the pharma sector, driven by increased healthcare spending, technological advancements, and a focus on chronic disease management. Given that the market still has not reached maturity, there are several opportunities for international pharma companies – from early access to market to the implementation of innovative digitalized services.
Chameleon Pharma Consulting Group specializes in internationalization, market entry and regulatory projects in the areas of consumer health, pharma, food supplements, medical devices, and cosmetics in the Middle East, as well as Latin America, Asia, the US, Europe, and CIS. We have completed over 300 international market entry projects, offering:
- Systematic Country and Product analysis (portfolio analysis),
- Systematic Local Partner Identification,
- Registration and Regulatory Affairs,
- Digital Transformation Services (strategy consulting, e-learning, social media analysis, SEO optimization and other).
For your individual questions please contact us by e-mail at service@chameleon-pharma.com.
