Press Release

UAE Generic Drugs Market to grow at a CAGR of 6.26% to 2029

Increasing healthcare infrastructure and a supportive regulatory environment are the major drivers for the UAE Generic Drugs Market.


According to TechSci Research report, “UAE Generic Drugs Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2019-2029”, UAE Generic Drugs Market has valued at USD 4.73 billion in 2023 and is anticipated to witness an impressive growth in the forecast period with a CAGR of 6.26% through 2029. This can be due to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position.

The expiration of patents is a significant driver behind the increased demand for generic drugs. When the patent on a brand-name drug expires, it opens the door for generic drug manufacturers to produce and introduce equivalent versions of the medication. Generic alternatives offer the same active ingredients and therapeutic effects but at a lower cost. The expiration of a patent allows multiple generic manufacturers to enter the market, creating competition. Increased competition often leads to lower prices, benefiting healthcare systems, providers, and patients. This competitive environment can drive the overall demand for generic drugs. Generic drugs are typically more cost-effective than their brand-name counterparts. As more generics enter the market due to patent expirations, healthcare systems can achieve substantial cost savings by substituting expensive brand-name drugs with more affordable generic alternatives.

For healthcare payers and providers, the availability of generic alternatives after patent expirations allows for better optimization of healthcare budgets. The reduced cost of generic drugs enables more efficient allocation of resources. Patients benefit directly from the expiration of drug patents as it often results in a reduction in the cost of their medications. This can improve medication adherence, especially for those on long-term or maintenance therapies.


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In February 2022, Pharma Solutions is set to revolutionize the treatment of Thalassemia in the UAE with the introduction of a groundbreaking drug from Switzerland, which promises to reduce treatment costs by 40%. Thalassemia remains a significant health concern in the UAE, with the highest carrier frequency reaching 49%. The burden of treatment costs has added to the challenges faced by patients. In response to this, Pharma Solutions is launching a new medicine, Deferiprone, manufactured in Switzerland. Deferiprone is an iron chelator specifically designed to address transfusion iron overload in patients with thalassemia syndromes, particularly when current chelation therapies prove inadequate. This initiative by Pharma Solutions aims to provide much-needed relief to thalassemia patients in the UAE.

Consumer perception and trust are crucial factors in the success and acceptance of generic drugs in market in UAE. Overcoming challenges related to perception and trust is essential for the growth of the generic drugs market. Consumers often associate brand-name drugs with higher quality and efficacy. Generic drugs, despite being equivalent in terms of safety and effectiveness, may face skepticism due to a lack of brand recognition. Building trust in the quality of generic drugs is essential. Cultural attitudes and beliefs regarding healthcare and medications can influence consumer perception. In some cultures, there may be a preference for well-known brand names, and skepticism about generic drugs may stem from unfamiliarity. Insufficient awareness and understanding of generic drugs can contribute to consumer hesitation. Many consumers may not be well-informed about the regulatory processes, safety standards, and bioequivalence of generic medications compared to their brand-name counterparts. There may be gaps in educating healthcare professionals and the public about the rigorous testing and quality standards that generic drugs must meet. Bridging these educational gaps is crucial for changing perceptions and building trust.


UAE Generic Drugs Market is segmented based on Type, Mode of Drug Delivery, Form, Source, Distribution Channel, Application, and by region.

Based on the Application, UAE Generic Drugs Market is segmented into Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others. Anti-inflammatory diseases refer to a category of medical conditions characterized by inflammation as a primary component of the disease process. Inflammation is a complex biological response that the body initiates in response to harmful stimuli, such as pathogens, damaged cells, or irritants. While inflammation is a natural and protective response, in some cases, it can become chronic or dysregulated, contributing to various diseases. Anti-inflammatory diseases, therefore, are conditions where the goal of treatment is to reduce or modulate inflammation. Rheumatoid arthritis is an autoimmune disorder in which the immune system mistakenly attacks the joints. This chronic inflammation leads to joint pain, swelling, stiffness, and, if untreated, can result in joint damage and deformities. Medications known as disease-modifying antirheumatic drugs (DMARDs) and biologics are often used to control inflammation in RA. Inflammatory bowel disease includes conditions like Crohn's disease and ulcerative colitis, which involve chronic inflammation of the gastrointestinal tract. Symptoms may include abdominal pain, diarrhea, weight loss, and fatigue. Anti-inflammatory medications, immunosuppressants, and biologics are commonly used to manage IBD.

Based on Region, Abu Dhabi region held the largest share in the UAE Generic Drugs Market. Abu Dhabi is home to healthcare centers of excellence, specialized clinics, or research institutions, there may be a higher demand for various medications, including generic drugs. Collaboration between local healthcare providers, government entities, and pharmaceutical companies may play a role. Strategic partnerships could result in targeted efforts to promote the use of generic drugs in the Abu Dhabi region. The prevalence of specific diseases or health trends in the Abu Dhabi region might lead to a higher demand for certain types of medications, potentially including generic drugs.


Some of the major companies operating in the UAE Generic Drugs Market include:

  • Gulf Pharmaceutical Industries (Julphar)
  • Sanofi UAE
  • Sun Pharma Global FZE
  • Abbott Laboratories SA
  • Eli Lilly & Company UAE
  • Mylan UAE
  • GlaxoSmithKline & Neopharma

 

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“Certain areas, particularly in Dubai, are projected to exert significant demand for Generic Drugs. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhance the overall wellbeing of people each year, are expected to contribute to a remarkable growth of the UAE Generic Drugs Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

UAE Generic Drugs Market by Type (Small Molecule Generics, Biosimilars), By Mode of Drug Delivery (Oral, Topical, Parenteral, Others), By Form (Tablet, Capsule, Injection, Others), By Source (In House, Contract Manufacturing Organizations), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Application (Cardiovascular Diseases, Diabetes, Neurology, Oncology, Anti-Inflammatory Diseases, Others), By Region, By Competition Forecast & Opportunities, 2019-2029F has evaluated the future growth potential of UAE Generic Drugs Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in UAE Generic Drugs Market.


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