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Analysis of Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates
Frost & Sullivan, July 2011, Pages: 110
This research service presents an analysis of the cardiovascular drugs market in Saudi Arabia and the United Arab Emirates. It quantifies the market size and provides growth forecasts of the cardiovascular market from 2008 to 2017. This research service provides in-depth analysis of industry challenges, market drivers, and market restraints, and how they impact the market dynamics during the forecast period. Drug classes such as antihypertensive and lipid lowering are covered in the study in details with market size and forecasting, market share among different molecules within a drug class, and brand-wise market share analysis.
This Frost & Sullivan research service titled Analysis of Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates provides an overview of the market size and the key factors driving growth in the market for the given regions. In this research, Frost & Sullivan's expert analysts thoroughly examine the following segments: antihypertensive, antidyslipidemic and others.
Market Overview
Proliferation of Lifestyle Diseases Enhances Prospects for the Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates
Expanding Base of Ageing Population Fuels Market Growth
The high incidence of lifestyle diseases, including obesity, hypertension and diabetes, in the UAE is the key factor driving growth in the cardiovascular drugs market. In the Kingdom of Saudi Arabia (KSA), prominent growth drivers are the demographic shift toward baby boomers, the increasing incidence of cardiovascular diseases and mandatory health insurance for expatriate employees. The UAE and KSA cardiovascular drugs markets were valued at $100.2 million and $172.8 million, respectively, in 2010. They are expected to grow at a CAGR of 16.5 per cent and 17.6 per cent to reach $291.4 million and $537.1 million, respectively, in 2017. The cardiovascular drugs market in KSA witnessed double-digit growth from 2007 to 2010. The total pharmaceutical market in the UAE generated revenue of $1.3 billion in 2010, and cardiovascular drugs contributed around 7.5 per cent of total market revenue. “Within the market, antihypertensives held the largest share of almost 60.0 per cent of the revenue in 2010, followed by antidyslipidemics (lipid lowering), which held a 37.0 per cent share,” notes the analyst of this research service. “The others segment held a share of around 3 percent.” Angiotensin converting enzyme (ACE) inhibitors and angiotensin receptor blockers (ARBs) within the antihypertensives segment are the most preferred and used drugs in both the markets. Statins are the most used drug class among antidyslipidemics in both markets.
The patent expiry of the key innovative molecules, stringent regulatory processes, and government’s encouragement of generics along with low patient compliance in the cardiovascular segment are the growth bottlenecks in the cardiovascular market in KSA and UAE. In particular, many cardiovascular drugs including blockbusters will soon be off-patent and such expiries are not being replaced with new molecules. “The government is patronizing generics to control spiralling healthcare and support the domestic pharmaceutical companies,” says the analyst. “Although genericization is expected to propel consumption of medicines, it is likely to negatively impact the market size in terms of value.”
Going forward, all three market segments – antihypertensive, lipid lowering and others (including multi-therapy combination drugs) are expected to grow. Identifying and targeting the right molecule within the market segments will ensure strong business traction. Growth in the lipid lowering drugs segment is expected to outpace that in the other segments. Its proportionate contribution to the total cardiovascular drugs market is likely to increase due to the higher incidence of dyslipidemia and modifications of guidelines for normal low density lipoprotein (LDL) level from 120mg/dl to 100mg/dl.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Antihypertensive
- Antidyslipidemic
- Others
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