The mid-size pharmaceutical market in the Middle East & Africa is expected to grow from US$ 19,569.41 million in 2022 to US$ 23,913.96 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2022 to 2028.
Pharmaceutical companies are interested in ensuring R&D achieves their intended goal. The number of new drugs approved each year has also increased over the last decade. Efforts are being made to achieve greater effectiveness and efficiency in meeting patients' needs. Recent studies have estimated average R&D costs per new drug are less than US$ 1 billion to over US$ 2 billion per drug. These estimates include the cost of laboratory and clinical trials of successful new drugs and drugs that enter clinical trials but fail or do not go through the laboratory development phase. These top trends transform the pharmaceutical industry and can have short-term and long-term implications. Therefore, the surging focus on R&D drives the growth of the Middle East & Africa mid-size pharmaceutical market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa mid-size pharmaceutical market. The Middle East & Africa mid-size pharmaceutical market is expected to grow at a good CAGR during the forecast period.
Pharmaceutical companies are interested in ensuring R&D achieves their intended goal. The number of new drugs approved each year has also increased over the last decade. Efforts are being made to achieve greater effectiveness and efficiency in meeting patients' needs. Recent studies have estimated average R&D costs per new drug are less than US$ 1 billion to over US$ 2 billion per drug. These estimates include the cost of laboratory and clinical trials of successful new drugs and drugs that enter clinical trials but fail or do not go through the laboratory development phase. These top trends transform the pharmaceutical industry and can have short-term and long-term implications. Therefore, the surging focus on R&D drives the growth of the Middle East & Africa mid-size pharmaceutical market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa mid-size pharmaceutical market. The Middle East & Africa mid-size pharmaceutical market is expected to grow at a good CAGR during the forecast period.
Middle East & Africa Mid-Size Pharmaceutical Market Segmentation
The Middle East & Africa mid-size pharmaceutical market is segmented on the basis of type, drug development type, formulation, therapy class, and country.- Based on type, the Middle East & Africa mid-size pharmaceutical market is bifurcated into prescription and over-the-counter. In 2022, the over-the-counter segment accounted for a larger market share.
- Based on drug development type, the market is bifurcated into in-house and outsource. The outsource segment held a larger market share in 2022.
- Based on formulation, the Middle east & Africa mid-size pharmaceutical market is segmented into tablets and capsules, injectables, sprays, and other formulations. The tablets & capsules segment held the largest market share in 2022.
- Based on therapy class, the market is segmented into cardiovascular diseases, pain management, diabetes, cancer, and other conditions. The diabetes segment held the largest market share in 2022.
- Based on country, the Middle East & Africa mid-size pharmaceutical market is segmented into Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa. Saudi Arabia held the largest market share in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. MEA Mid-Size Pharmaceutical - Market Landscape
5. Mid-Size Pharmaceutical Market - Key Market Dynamics
6. Mid-Size Pharmaceutical Market- MEA Analysis
7. MEA Mid-Size Pharmaceutical Market Revenue and Forecasts To 2028- by Type
8. MEA Mid-Size Pharmaceutical Market Analysis - By Drug Development Type
9. MEA Mid-Size Pharmaceutical Market - By Formulation
10. MEA Mid-Size Pharmaceutical Market - By Therapy Class
11. MEA Mid-Size Pharmaceutical Market Revenue and Forecasts to 2028 - Country Analysis
12. Mid-Size Pharmaceutical Market-Industry Landscape
13. Company Profiles
14. Appendix
Companies Mentioned
- Alexion Pharmaceuticals, Inc.
- Bausch Health Companies Inc.
- Daiichi Sankyo Company Limited
- Endo Pharmaceuticals Inc.
- Mallinckrodt
- ssSun Pharmaceutical Industries Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 128 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 19569.41 Million |
| Forecasted Market Value ( USD | $ 23913.96 Million |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 6 |
