Saudi pharmaceutical market shows 10 percent annual growth rate
The Saudi market is one of the fastest expanding pharmaceutical markets in the Arab world, with a growth rate estimated at 10 percent per annum, and with local per capita spending amounting to $55.70, the second highest in the Middle East, reported Al-Sharq Al-Awsat..
The country’s five locally based pharmaceutical companies meet the needs of 10-15 percent of the domestic consumption, although this ratio is expected to rise as high as 30-35 percent a number of factories, which currently are being built, eventually open.
Most of Saudi Arabia’s out pharmaceutical needs met today by European and U.S. suppliers. –(Albawaba-MEBG)