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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 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
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 33 billion in 2023 driven by increasing healthcare needs and strategic partnerships in the region.
The market is anticipated to grow at a CAGR of 7.42% during the forecast period of 2024-2032, likely to reach a market value of USD 62.8 billion by 2032.
The rising burden of chronic diseases and the growing population size are fuelling the demand for the market.
One of the significant trends in the market is the increasing merger and acquisition activities among key market players. To gain entry into the South African market and strengthen its OTC drug offerings, Cipla Limited signed an agreement to acquire Actor Pharma (Pty) Ltd, a South African OTC and generic medicines pharmaceutical company in September 2023.
Based on the therapy area, the market is segmented into cardiovascular, dermatology, respiratory, oncology, and rheumatology, among others.
By route of administration, the market is divided into oral, injectables, dermal/topical, and inhalers, among others.
The distribution channels of the market are hospital pharmacies, retail pharmacies, and online pharmacies, among others.
The market segmentation by countries includes UAE, Saudi Arabia, and Egypt, among others.
The key players in the market are Teva Pharmaceutical Industries Ltd., Viatris Inc., AstraZeneca, Baxter, GSK plc, Bausch + Lomb, Novartis AG, Sanofi, Pfizer Inc., Fresenius SE & Co. KGaA, and Hikma Pharmaceuticals PLC.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124