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 drug 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 drug 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 drug 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 drug 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 drug for the diabetes is further aiding the growth of the UAE generic drug 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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