Saudi Arabia pharmacy retail market is anticipated
to register growth with an impressive CAGR in the forecast period, 2023-2027,
on the account of growing demand for the pharmaceutical products and
therapeutic products in response to the growing instances of diseases among the
population.
Growing pharmaceutical industry and thus increasing construction of
the related infrastructure like pharma clinics, pharmacies, etc. is also
driving the growth of the Saudi Arabia pharmacy retail market in the upcoming
five years.
Expanding Pharmaceutical Industry
Promises Market Growth
Growing demands for the pharmaceutical
products and therapeutic products along with the growing instances of the
chronic diseases is anticipated to drive the growth of the Saudi Arabia
pharmacy retail market in the upcoming five years. Online pharmaceutical
shopping has increased sales in the recent years due to growing inclination of
the consumer over e-commerce sector. Furthermore, growing investment in the
sector plays a major role in supporting the growth of the Saudi Arabia pharmacy
retail market in the next five years.
Value of the Saudi Arabia pharmaceutical
industry was USD8.3 billion in the year 2019. Growing sales of patent drugs,
generics, and other therapeutics is driving the industrial growth. The demand
for the easier access and in-home delivery services is aiding the demand for
the localized pharmacies and online pharmacies growth in the recent years.
Growing on these factors the market for the pharmacy retail is also anticipated
due to government based investment strategies. Vision 2030 has played a vital
role in supporting the industrial and economic growth in the country. The
scheme encourages expansion of manufacturing agreements thus promoting the
local manufacturers in the country and reducing the cost of imports
substantially.
Internet Usage Drives Market Growth In
Future
Growing dependability over the internet
is a major factor responsible for the expansion of the e-commerce sector. The
population with the easy access to smartphones, and internet find it much
feasible to order their pharma needs online and get it deliver at the
convenience of the homes. In the year 2021, there were over 31.9 million
internet users in the country.
Further increase in the number is experienced
due to growing penetration of the smartphone and internet communication
services in the country. With expanding e-commerce sector, and growing demands
for the services like immediate supply of pharmaceutical and therapeutics,
lightning fast deliveries, in-home deliveries, cost reduction schemes with the
premium subscription to the mobile based applications etc. the Saudi Arabia
pharmacy retail is anticipated to further grow in the next five years.
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Market Segmentation
The Saudi
Arabia pharmacy retail market is segmented by market structure, product type, therapeutic
area, drug type, pharmacy location, competitional landscape, and regional
distribution.
Based on market
structure, the market is differentiated into organized and unorganized. By
product type, the market is further segmented into prescribed drugs,
over-the-counter products, non-pharmaceutical products, and medical equipment.
Based on therapeutic area, the market is fragmented into cardiovascular,
anti-diabetic, pain relief/analgesics, vitamins/minerals/nutrients,
anti-infective, and others. By drug type, the market is distinguished between
generic and patented.
Based on pharmacy location, the market is bifurcated
between street/mall based and hospital based. The market analysis also studies
the regional segmentation to devise regional market segmentation, divided among
Western Region, Eastern Region, Northern & Central Region, and Southern
Region.
Company Profile
Nahdi Medical Co., Al Dawaa Pharmacy, Tadawi
Group, Al Rehab, Atlas International,
among others is a partial list of major market players of the companies
responsible for the growth of Saudi Arabia pharmacy retail market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 –
2020
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Estimated Year
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2022
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Forecast Period
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2023
– 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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·
Market Structure
·
Product Type
·
Therapeutic Area
·
Drug Type
·
Pharmacy Location
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Regional scope
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Western Region, Eastern Region, Northern & Central Region,
and Southern Region.
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Key companies profiled
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Nahdi Medical Co., Al Dawaa Pharmacy, Tadawi Group, Al Rehab,
Atlas International
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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Report Scope:
In this report, Saudi Arabia pharmacy retail market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Saudi Arabia Pharmacy Retail Market,
By Market Structure:
- Saudi Arabia Pharmacy Retail Market,
By Product Type:
- Prescribed Drugs
- Over-the-Counter Products
- Non-Pharmaceutical Products
- Medical Equipment
- Saudi Arabia Pharmacy Retail Market,
By Therapeutic Area:
- Cardiovascular
- Anti-Diabetic
- Pain Relief/Analgesics
- Vitamins/Minerals/Nutrients
- Anti-Infective
- Others
- Saudi Arabia Pharmacy Retail Market,
By Drug Type:
- Saudi Arabia Pharmacy Retail Market,
By Pharmacy Location:
- Street/Mall Based
- Hospital Based
- Saudi Arabia Pharmacy retail Market,
By Region:
o Western Region
o Eastern Region
o Northern & Central Region
o Southern Region
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia pharmacy retail market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Saudi Arabia Pharmacy Retail
Market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]