UAE Generic Drugs Market to Grow with Impressive CAGR until 2027 | TechSci Research

UAE Generic Drugs Market is anticipated to grow with growing pharma industry, in the forecast period, 2023-2027F.

According to TechSci Research report on, “UAE Generic Drugs Market - By Region, Competition Forecast & Opportunities, 2027”, the UAE generic drugs market might register an impressive CAGR during the forecast period, 2023-2027, to establish growth due to factors like increasing production of generic drugs. Increasing instances of chronic diseases like cardiovascular diseases, neurological diseases, obesity, diabetes, cancer, etc. are driving the growth of the UAE generic drugs market in the upcoming five years.

Patients suffering from chronic diseases require prolonged medicinal treatment to maintain their health condition and the therapeutic process of treatment from the chronic diseases, that often increases the cost of healthcare multiple folds. Demand for the affordable medical services like therapeutics and pharmaceutical products further support the growth of the UAE generic drugs market in the next five years.

Moreover, by 2021, the country was already manufacturing over 6,000 generic drugs in 16 manufacturing factories. Increasing involvements of local pharmaceutical manufacturers in the production of generic drugs are also actively aiding the growth of the UAE generic drugs market in the future five years. Increased investment from the FDI, government, and private investments in the pharmaceutical industry of the country is further substantiating the growth of the UAE generic drugs market in the forecast years through 2027F.

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Surging demands for the affordable healthcare services including pharmaceuticals also aid the market growth. Global giants of pharmaceutical industry may have turned Dubai region into a healthcare hub for the Middle East region, but the availability of the manufacturing of branded drugs in the country is still low. The market players present in the market are highly focused on manufacturing biosimilars, and other generic drugs to facilitate the growth of the market.

Patients in the country have higher demands for the affordable healthcare services though having higher disposable income due to lack of resources for the manufacturing of branded drugs and stringent FDA regulations that increases the branded drugs’ cost and restrains the growth of branded drugs but aids the growth of the UAE generic drugs market in the forecast period.

The UAE generic drugs market is segmented by type, mode of drug delivery, form, source, distribution channel, application, competitional landscape, and regional distribution.

Based on type, the market is differentiated between small molecule generics and biosimilars. Biosimilars are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of expanding pharma industry. Surging demand for affordable healthcare and pharmaceutical services & products are further driving the growth of the UAE generic drugs market in the next five years.

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By mode of drug delivery, the market is further segmented into oral, topical, parenteral, and others. Oral mode of drug delivery is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years due to its easiest and most effective drug delivery pathway.

Moreover, the maintenance of regular dosage and monitoring the administration as per prescription is easier for oral administration and thus substantiate the growth of the UAE generic drugs market in the future five years. Form based market is fragmented into tablet, capsule, injection, and others.

A partial list of major market players of the UAE generic drugs market includes:

• Gulf Pharmaceutical Industries (Julphar)
• Sanofi UAE
• Sun Pharma Global FZE
• Abbott Laboratories SA
• Eli Lilly & Company UAE
• Mylan UAE
• GlaxoSmithKline & Neopharma

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“Cardiovascular diseases account for the largest patient count in the country. Moreover, the demand for prolonged medicinal dosage and high cost of prescription drugs responsible for the treatment of cardiovascular diseases drive the market growth. Generic drugs that are affordable over branded drugs supports the growth of the UAE generic drugs market in the future five years. Diabetes cases are also rapidly growing due top sedentary lifestyle of the population in the country. Growing geriatric population and demands for generic drugs for the diabetes is further aiding the growth of the UAE generic drugs market in the forecast years. Sudden increase in the cancer cases in the country and rapidly growing new cases also have potential to aid the market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“UAE Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of UAE generic drugs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE generic drugs market.

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United States Generic Drugs Market to Grow at a Steady CAGR of 9.43% During the Forecast Period | TechSci Research

Increasing prevalence of cardiovascular diseases and diabetes is driving the growth of United States generic drugs market in the forecast period, 2022-2026.

According to TechSci Research report, “United States Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Infectious Diseases, Others), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region, Competition, Forecast and Opportunity, 2026” the United States generic drugs market stood at USD70.78 billion in 2020 and is expected to grow at a steady CAGR of 9.43% during the forecast period on account of growing prevalence of diseases.

The growing geriatric population across the country which is susceptible to various infectious and non-infectious diseases is expected to drive the market growth over the next few years. Additionally, increasing number of patents losing their exclusivity has led to a lot of generic drugs manufacturers emerging out and developing generic drugs, thereby positively influencing the market growth during the forecast period. Furthermore, the FDA stated that around 158 drug patents would expire in 2021, thereby increasing the market potential for generic drugs.

However, stringent regulatory approval process by the FDA and product recalls can restrain the market growth over the next few years. Furthermore, growing competition in the market along with shortage of medicines can slow down the growth of generic drugs in the United States. Also, the prescription of drugs by doctors also plays a pivotal role in the demand of generic drugs since most doctors prescribe branded drugs, thereby hampering the market growth over the next few years.

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https://www.techsciresearch.com/report/united-states-generic-drugs-market/7595.html

The United States generic drugs market is segmented based on type, application, mode of drug delivery, form, source, distribution channel, regional distribution, and company. In terms of application, the market can be categorized into cardiovascular diseases, diabetes, neurology, oncology, infectious diseases, and others.

The cardiovascular diseases segment dominated the market in 2020 with an overall market share of 36.73% on account of the increasing cases of cardiovascular diseases due to unhealthy eating habits and sedentary lifestyles. Based on form, the market can be categorized into tablet, capsule, injection, and others. The injection segment is expected to witness significant growth during the forecast period since administration of drug through this mode of administration increases the bioavailability of drug.

By distribution channel, the market can be fragmented into retail pharmacies, online pharmacies, hospital pharmacies and others. The retail pharmacies segment is expected to dominate the market since most of the generic drugs can be purchased through retail pharmacies over the counter.

Key market players in the United States generic drugs market include:

• Teva Pharmaceuticals USA, Inc
• Pfizer Inc.
• Sandoz US
• Endo Pharmaceuticals Inc.
• Aurobindo Pharma USA, Inc.
• Abbott Laboratories, Inc.
• Eli Lilly and Company
• Sun Pharma Inc.
• Lupin Pharmaceuticals, Inc.
• Zydus Pharmaceutical USA Inc.

Major companies operating in the market are following strategies such as mergers & acquisitions, product launches, among others in order to stay competitive in the market and having an edge over other players operating in the market.

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“The South region will register the fastest CAGR during the forecast period. This can be attributed to the large and growing cardiovascular and diabetic patients in the region, which is susceptible to different kinds of diseases. Additionally, supportive government policies and healthcare schemes launched in the United States are expected to support market growth.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“United States Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Infectious Diseases, Others), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region, Competition, Forecast and  Opportunity, 2026”, has evaluated the future growth potential of United States generic drugs market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States generic drugs market.

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Saudi Arabia Generic Drugs Market is Projected to Grow at a Formidable Rate During the Forecast Period | TechSci Research

Growing prevalence of diseases is driving the growth of Saudi Arabia generic drugs market during the forecast period.

According to TechSci report on, “Saudi Arabia Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia generic drugs market is expected to witness formidable growth through 2026 on account of the supportive government policies such as the government of Saudi Arabia has started rolling out incentives for international companies to invest in local manufacturing.

Additionally, the new healthcare transformation scheme launched by the government recently in 2021 will not only improve the status of healthcare sector but also of the pharmaceutical industry in the country through 2026. Additionally, the Saudi Arabia generic drugs market is majorly import driven, the government is taking major steps to increase the local manufacturing in the country thereby creating lucrative opportunities for the overall market growth in the next five years. However, stringent regulatory landscape for the marketing and approval of drugs in the country can restrict the market growth through 2026.

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The Saudi Arabia generic drugs market can be segmented by type, mode of drug discovery, form, source, distribution channel, application, region, and company. Based on distribution channel, the market can be categorized into hospital pharmacies, retail pharmacies, online pharmacies. The retail pharmacies segment is expected to dominate the market through 2026 on account of the fact that through retail pharmacy stores as most generic drugs are over the counter (OTC) medicines that can be bought without a prescription.

While online pharmacies segment is expected to register the highest growth during the forecast period on account of growing number of smartphone users, increasing internet proliferation and emergence of several e-commerce platforms across the country. Additionally, increase in the number of online pharmacies and increasing number of retail pharmacies launching their websites to make their products available online across the country is further expected to support the segmental growth.

The major companies operating in Saudi Arabia generic drugs market includes Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO), Tabuk Pharmaceuticals Manufacturing Co., Jamjoom Pharmaceuticals Co., Riyadh Pharma, Al Jazeerah Pharmaceutical Industries Ltd (Hikma), Pfizer Saudi Company Ltd., Sanofi Aventis Arabia Co. Ltd., Novartis Saudi Arabia, GlaxoSmithKline Saudi Arabia Limited (GSK), Novo Nordisk Saudi Arabia, among others.

Major market players in generic drugs are expanding their businesses through mergers & acquisitions and strategic collaborations. For instance, in March 2020, the Ministry of Health (MOH) of Saudi Arabia signed a memorandum of understanding with Sanofi, Saudi Arabia, to start localizing and transferring insulin industry technology in the Kingdom of Saudi Arabia and the possibility of its external export to the GCC countries and the Middle East region.

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“Saudi Arabia Generic Drugs Market is driven by the increasing population base suffering from various communicable and non-communicable diseases across the country. Additionally, supportive government policies to boost the status of local manufacturing and reducing the reliance on imports is further expected to support the market growth over the next few years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Saudi Arabia Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House v/s Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia generic drugs market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia generic drugs market.

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