The Egyptian pharmaceutical market is poised for impressive growth during the forecast period of 2024-2028, according to the TechSci Research report titled “Egypt Pharmaceutical Market – By Region, Competition, Forecast and Opportunities, 2028.” This burgeoning market is driven by a multitude of factors, including the increasing prevalence of chronic diseases, rising research and development initiatives, and the development of personalized medicines.
Prevalence of Chronic Diseases
Egypt’s pharmaceutical market is witnessing a surge in demand due to the rising incidence of chronic diseases among its population. The country is grappling with both communicable diseases, such as tropical and vector-borne diseases, tuberculosis, coronavirus infections, dengue, and hepatitis, as well as non-communicable diseases like cardiovascular disorders, cancers, diabetes, and chronic respiratory illnesses.
Paragraph from the web: According to a report by the World Health Organization (WHO), “Non-communicable diseases (NCDs) account for an estimated 83% of all deaths in Egypt. Cardiovascular diseases, cancers, chronic respiratory diseases, and diabetes are the leading causes of premature mortality in the country, highlighting the need for comprehensive prevention and control strategies.”
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on the “Egypt Pharmaceutical Market” – https://www.techsciresearch.com/report/egypt-pharmaceutical-market/15213.html
Rising Elderly Population
The growing elderly population in Egypt is another driving force behind the pharmaceutical market’s expansion. As people age, they become more susceptible to various health conditions, thereby increasing the demand for pharmaceutical products and healthcare services.
Personalized Medicine
The development of personalized medicines is anticipated to fuel the growth of the Egyptian pharmaceutical market throughout the forecast period. Personalized medicine tailors treatments to an individual’s genetic makeup, lifestyle, and environmental factors, offering more targeted and effective therapies.
Paragraph from the web: According to a report by the American University in Cairo, “Personalized medicine is an emerging field in Egypt, with increasing investments in genomic research and the development of targeted therapies. This approach holds the potential to improve patient outcomes, reduce adverse drug reactions, and optimize healthcare resources.”
Challenges and Barriers
Despite the promising growth prospects, the Egyptian pharmaceutical market faces several challenges and barriers that may hinder its overall growth. These include stringent regulations, delays in regulatory approvals, lack of technical support, miscommunication between governmental and pharmaceutical regulatory affairs, the gap between academia and industry, and regulatory, developmental, and manufacturing challenges related to product registration.
Market Segmentation
The Egypt pharmaceutical market can be segmented based on various parameters, including type, drug classification, mode of purchase, and distribution channels.
Type
- Pharmaceutical Drugs: This segment, which includes traditional small-molecule drugs, is expected to witness substantial growth due to the increasing demand for medicines to treat chronic diseases.
- Biologics: This segment encompasses monoclonal antibodies (MAbS), therapeutic proteins, and vaccines, and is anticipated to support market growth during the forecast period.
Drug Classification
- Branded Drugs: This segment represents patented, branded medications from pharmaceutical companies.
- Generic Drugs: The generic drugs segment is expected to drive market growth, fueled by the rapid patent expiration of branded drugs and the increasing prevalence of diseases like diabetes and cardiovascular disorders.
Mode of Purchase
- Prescription-based Drugs: This segment includes numerous vaccines and treatments for acute and chronic illnesses, such as diabetes, cancer, cardiovascular disease, and orphan diseases. Effective prescription drug administration is crucial for improving clinical outcomes.
- Over-the-Counter Drugs: This segment encompasses medications that can be purchased without a prescription, typically for minor ailments and self-medication.
Competitive Analysis
The Egyptian pharmaceutical market is highly competitive, with numerous domestic and international players vying for market share. Key players in the market include companies like Pfizer, Novartis, GlaxoSmithKline, Sanofi, and local manufacturers such as EIPICO and Memphis Pharmaceuticals.
Paragraph from the web: According to a report by Fitch Solutions, “The Egyptian pharmaceutical market is moderately concentrated, with the top five players accounting for approximately 40% of the market share. These players are focusing on strategies such as mergers and acquisitions, strategic partnerships, and the introduction of innovative products to gain a competitive edge.”
Benefits of the Research Report
The TechSci Research report on the Egypt Pharmaceutical Market offers a comprehensive analysis and valuable insights for stakeholders, including:
- Detailed market segmentation and forecasts for informed decision-making
- Analysis of key drivers, trends, and challenges shaping the market
- Identification of growth opportunities and potential market entry points
- Competitive landscape analysis and strategies of key players
- Insights into regulatory developments and their impact on the market
- Understanding of emerging trends, such as personalized medicine
The Egyptian pharmaceutical market presents a plethora of opportunities for growth and expansion, driven by the increasing prevalence of chronic diseases, an aging population, and the development of personalized medicines. However, stakeholders must navigate challenges such as stringent regulations, regulatory delays, and gaps between academia and industry. By leveraging the insights provided in the TechSci Research report, pharmaceutical companies, healthcare providers, and policymakers can position themselves for long-term success in this dynamic and rapidly evolving market.
Major companies operating in the Egypt Pharmaceutical Market are:
- MDI Pharma
- Merck & Co.
- Novartis AG
- Pharco Pharmaceuticals
- Roche Holding AG
- Sanofi S.A
- EVA Pharma
- Orchidia Pharmaceutical Industries
- GlaxoSmithKline
- Tabuk Pharmaceuticals
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=15213
Customers can also request for 10% free customization on this report.
Based on distribution channels, the market is further divided into hospital pharmacies, retail pharmacies, and online pharmacies. One of the main factors contributing to hospital pharmacies’ domination in the market is the fact that the therapies listed under prescription pharmaceuticals are frequently only able to be prescribed in hospital settings under the supervision of qualified medical personnel. Additionally, a variety of medications used to treat serious illnesses including cancer and orphan diseases can only be given intravenously by qualified medical personnel. Clinical outcomes are frequently improved as a result of the right treatment and management of important diseases made possible by such excellent therapeutic administration.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Egypt management consulting firm.
Egypt Pharmaceutical Market- Type{Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others) and Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)}, By Drug Classification (Branded Drugs v/s Generic Drugs), By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Company and By Region, has evaluated the future growth potential of Egypt Pharmaceutical 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 the Egypt Pharmaceutical Market.”
Download Free Sample Report – https://www.techsciresearch.com/sample-report.aspx?cid=15213
Contact Techsci Research
US –
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +13322586602
Email: [email protected]