2014-04-04 00:45:02 - Saudi Arabia Pharmaceutical Market Opportunity Analysis - a new market research report on companiesandmarkets.com
Sales in the Saudi Arabia pharmaceuticals market are expected to surpass $7 Billion by 2018 as compare to $4 Billion 2012. The Saudi Arabia pharmaceutical market has recorded significant growth over the years driven by various factors like increasing ageing population mostly in the above 60 years bracket, changing demographics and rise in the incidence of lifestyle diseases, increased spending power, result driven government initiatives to promote the growth of indigenous pharmaceutical companies.In spite of the progress, the pharmaceutical sector in the Saudi Arabia is still in an emerging phase, and drug manufacturing is at a relatively nascent stage owing to many challenges, which need to be resolved. The Saudi pharmaceuticals market has accounted for more than to 50% of
all pharmaceutical products sales in the GCC region.Saudi Arabia relies substantially on imports of pharmaceutical products, primarily from Europe, to meet local demand as a result of insufficient domestic drug production and lack of indigenous research capabilities.Government is taking efforts to promote FDI in the pharmaceutical sector especially directed to help development of skills of local companies to manufacture patented medicines as well. Policies like free trade agreements have played a significant role in encouraging foreign investments. Increased penetration of the healthcare sector by insurance providers, price regulation guidelines to ensure uniformity in pricing and dedicated healthcare reforms, have further ensured growth of pharmaceutical market in recent years.Saudi Arabia is expected to emerge as one of the fastest growing markets in future. The country is one of the most developed and technologically advanced medical sectors in the GCC Region with modern equipment and amenities.
Click for report details: www.companiesandmarkets.com/Market/Healthcare-and-Medical/Market ..
Browse all Healthcare and Medical Market Research Reports www.companiesandmarkets.com/Market/Healthcare-and-Medical/Market ..
Browse all Healthcare and Medical Company Profile Reports www.companiesandmarkets.com/Market/Healthcare-and-Medical/Compan ..
Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.comâs online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.