Middle East and Africa Generic Drugs Market Report and Forecast 2024-2032

Middle East and Africa Generic Drugs Market Size

The Middle East and Africa generic drugs market was valued at USD 33 billion in 2023, driven by increasing healthcare needs and strategic partnerships in the region. The market is expected to grow at a CAGR of 7.42% during the forecast period of 2024-2032, with the values likely to rise from USD 35.4 billion in 2024 to USD 62.8 billion by 2032.

Middle East and Africa Generic Drugs Market Outlook

• The rising healthcare needs in Middle Eastern and African countries, due to the growing burden of chronic diseases and population growth are poised to augment the market demand.

• One of the major Middle East and Africa generic drugs market trends is the rise in strategic partnerships between local and international pharmaceutical companies. For instance, in September 2023, Cipla Limited signed an agreement to acquire Actor Pharma (Pty) Ltd, a South African over the counter (OTC) and generic medicines pharmaceutical company to gain entry into the South African market and strengthen its OTC drug offerings.

• Healthcare policies in the Middle East and North Africa region are increasingly focusing on reducing healthcare expenditure which is shifting the focus on improving the accessibility and uptake of affordable treatment options, thereby elevating the market value.

Middle East and Africa Generic Drugs Market Analysis

A generic drug contains the same active ingredients and offers similar clinical benefits as a brand-name medicine. They are generally marketed at lower prices (an estimated 80 to 85% less ) and thus serve as a cost-effective alternative to patent-protected medications. Healthcare policies in the Middle East and North Africa region are increasingly focusing on reducing healthcare expenditure which is shifting the focus on improving the accessibility and uptake of affordable treatment options, such as generic drugs. Further, the rising investment in healthcare infrastructure, such as hospitals and clinics, especially in under-developed areas, is expected to fuel the Middle East and Africa Generic Drugs market in the coming years.

The rising healthcare needs in the Middle Eastern and African countries, due to the growing burden of chronic diseases and population growth, are significantly contributing to the expansion of the global generic drugs market . The International Diabetes Federation states that diabetes prevalence in the region is projected to reach 136 million cases by 2045. Additionally, obesity is a severe problem in the Middle East and Africa, comprising 18 of the top 50 countries with high obesity rates globally.  With the growing prevalence of chronic conditions (needing long-term medications), the Middle East and Africa Generic Drugs market demand is expected to witness a surge in the forecast period.

One of the major market trends is the rise in strategic partnerships between local and international pharmaceutical companies. For instance, in September 2023 , Cipla Limited, an Indian multinational pharmaceutical company signed an agreement to acquire Actor Pharma (Pty) Ltd, a South African-based pharmaceutical company specializing in over the counter (OTC) and generic medicines, at a deal worth USD 48.6 million . The acquisition was intended to enter the South African market and strengthen its OTC drug offerings. Such collaborations also allow the regional players to utilize advanced technology and expertise, which helps them to improve the manufacturing efficiency and quality of generic drugs. Thus, the increasing merger and acquisition activities are anticipated to boost the market share.

Middle East and Africa Generic Drugs Market Segmentation

The report offers a detailed analysis of the market based on the following segments:

Leading Players in the Middle East and Africa Generic Drugs Market

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Teva Pharmaceutical Industries Ltd

• Viatris Inc.

• AstraZeneca

• Baxter

• GSK plc

• Bausch + Lomb

• Novartis AG

• Sanofi

• Pfizer Inc.

• Fresenius SE & Co. KGaA

• Hikma Pharmaceuticals PLC

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Middle East and Africa Generic Drugs Market Report Snapshots

Middle East and Africa Generic Drugs Market Size

Middle East and Africa Generic Drugs Market Analysis

Middle East and Africa Generic Drugs Companies