Saudi Arabia Pharmaceuticals & Healthcare Report

Published 10 June 2015

  • 129 pages
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$1,295.00
Saudi Arabia Pharmaceuticals & Healthcare Report

BMI View: Over the forthcoming years, growth in Saudi Arabia's pharmaceutical market will remain elevated. The government's commitment to the sector and health insurance expansion will be key drivers of sector growth, with the risks from lower oil prices and the Gulf Cooperation Council drug price unification process remaining minimal.

Headline Expenditure Projections

  • Pharmaceuticals: SAR28.4bn (USD7.6bn) in 2014 to SAR31.8bn (USD8.5bn) in 2015; +11.9% in both local currency and US dollar terms. Forecast in line with Q 2 15.

  • Healthcare: SAR103.2bn (USD27.5bn) in 2014 to SAR119.4bn (USD31.8bn) in 2015; +15.7% in both local currency and US dollar terms. Forecast in line with Q115.

Risk/Reward Index

In our Q315 Risk/Reward Index matrix, Saudi Arabia maintains second position out of 31 markets analysed in the Middle East and African region, scoring 59.3. Its high composite score is due to its wealth and a sizeable population, which will support the longer-term development of the pharmaceutical market. Furthermore, its forecast growth rate is high due to favourable public and private healthcare investments. The government is also in the process of creating more public-private health partnerships and encouraging private health insurance uptake, which should provide momentum for drug sales. However, Saudi Arabia's commitment to intellectual property protection remains a major issue for foreign research-based pharmaceutical players.

Key Trends And Developments

  • German drugmaker Boehringer Ingelheim announced the launch of its new DDP-4 inhibitor treatment for the management of type 2 diabetes in Saudi Arabia in March 2015.

  • In March 2015, Eisai's breast cancer treatment, Halaven (eribulin mesylate), was approved by the Saudi Food and Drug Authority for the treatment of women with advanced cases of the disease. Specifically, it is indicated for the treatment of patients with locally advanced or metastatic breast cancer who have received at least two...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
13
Operational Risk
14
Industry Forecast
16
Pharmaceutical Market Forecast
16
Table: Pharmaceutical Sales, Historical Data And Forecasts (Saudi Arabia 2011-2019)
17
Healthcare Market Forecast
18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Saudi Arabia 2011-2019)
19
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Saudi Arabia 2011-2019)
20
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Saudi Arabia 2011-2019)
20
Prescription Drug Market Forecast
21
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Saudi Arabia 2011-2019)
22
Patented Drug Market Forecast
23
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Saudi Arabia 2011-2019)
24
Generic Drug Market Forecast
25
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Saudi Arabia 2011-2019)
26
OTC Medicine Market Forecast
27
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Saudi Arabia 2011-2019)
28
Pharmaceutical Trade Forecast
29
Table: Pharmaceutical Trade Data And Forecasts (Saudi Arabia 2013-2019)
31
Table: Pharmaceutical Trade Data And Forecasts local currency (Saudi Arabia 2013-2019)
31
Key Risks To BMI's Forecast Scenario
32
Macroeconomic Forecasts
34
Economic Analysis
34
Industry Risk Reward Indicies
42
Middle East And Africa Risk/Reward Index
42
Saudi Arabia Risk/Reward Index
50
Rewards
50
Risks
50
Market Overview
52
Industry Trends And Developments
53
Epidemiology
53
Non-Communicable Diseases
54
Healthcare Sector
55
Healthcare Sector Developments
56
Healthcare Sector Funding
57
Private Healthcare Sector
58
Primary Healthcare Provision
59
Secondary Healthcare Provision
60
Health Insurance
60
Medical Tourism
62
Healthcare Infrastructure Boom
62
Table: Healthcare Resources (Saudi Arabia 2009-2014)
64
Table: Healthcare Personnel (Saudi Arabia 2009-2014)
64
Table: Healthcare Activity (Saudi Arabia 2009-2014)
65
Information Technology (IT) In Healthcare
65
Research And Development (R&D)
66
Biotechnology
67
Clinical Trials
68
Regulatory Development
69
Regional Regulatory Developments
71
Free Trade Agreements
73
Intellectual Property Regime
73
IP Deficiencies
75
Counterfeit & Unregistered Drugs
76
Pricing Regime
76
Pricing System Reform
77
Tendering Procedures
78
Reimbursement Regime
79
Competitive Landscape
80
Pharmaceutical Industry
80
Domestic Industry
81
Foreign Industry
81
Pharmaceutical Sector Developments
82
Pharmaceutical Wholesale
84
Pharmaceutical Retail
85
Company Profile
87
SPIMACO
87
Saudi Arabian Japanese Pharmaceutical (SAJA)
91
TABUK Pharmaceutical Manufacturing
93
Jamjoom Pharma
97
GlaxoSmithKline
100
Novartis
104
Merck & Co
106
Pfizer
109
Sanofi
112
Hikma Pharmaceuticals Plc
115
Demographic Forecast
117
Demographic Outlook
117
Table: Population Headline Indicators (Saudi Arabia 1990-2025)
118
Table: Key Population Ratios (Saudi Arabia 1990-2025)
118
Table: Urban/Rural Population & Life Expectancy (Saudi Arabia 1990-2025)
119
Table: Population By Age Group (Saudi Arabia 1990-2025)
119
Table: Population By Age Group % (Saudi Arabia 1990-2025)
120
Glossary
122
Methodology
124
Pharmaceutical Expenditure Forecast Model
124
Healthcare Expenditure Forecast Model
124
Notes On Methodology
125
Risk/Reward Index Methodology
126
Index Overview
127
Table: Pharmaceutical Risk/Reward Index Indicators
127
Indicator Weightings
128

The Saudi Arabia Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Saudi Arabia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Saudi Arabia pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Saudi Arabia, to test other views - a key input for successful budgeting and strategic business planning in the Saudi pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Saudi pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Saudi Arabia.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc