Saudi Arabia to be 24% of Mena pharma market

A range of healthcare reforms has taken place in Saudi Arabia to support and incentivise pharma manufacturers

  
A Publix Supermarket pharmacy manager retrieves a bottle of antibiotics from the shelf August 7, 2007 in Miami, Florida. Publix has decided to start giving away seven commonly prescribed antibiotics for free. Image used for illustrative purposes.

A Publix Supermarket pharmacy manager retrieves a bottle of antibiotics from the shelf August 7, 2007 in Miami, Florida. Publix has decided to start giving away seven commonly prescribed antibiotics for free. Image used for illustrative purposes.

Getty Images/Joe Raedle
Saudi Arabia is estimated to contribute $10.7 billion or 24% towards Mena’s $44 billion pharma market by 2023, notes Informa Markets, the organisers of the leading regional pharmaceutical event, CPhI Middle East & Africa.
 
“So, clearly, there will be a wealth of business opportunities during the next edition of CPhI Middle East & Africa, the leading regional pharma show, which will take place alongside the Global Health Exhibition in Riyadh from September 26 to 28, 2021,” said Sherma Ellis, Brand Manager, CPhI Middle East & Africa.
 
In recent years, a range of healthcare reforms has taken place in Saudi Arabia to support and incentivise pharma manufacturers. These include 100% foreign direct investment (FDI) into the sector, efforts to increase the total local pharmaceutical production by 20% by the end of 2020, the launch of e-visas to make the country more accessible, as well as opportunities for business expansion, due to the country’s reliance on imported pharmaceuticals.
 
Furthermore, socioeconomic factors, including increased medical insurance coverage, a growing population, higher living standards, and the incidence of non-communicable diseases are all driving additional demand for pharmaceuticals within the kingdom.
 
CPhI MEA is an umbrella brand, with tracks covering five main verticals in the pharmaceutical sector - CPhI for ingredients, FDF for finished dosage forms, ICSE for drug development and contract services, P-MEC for machinery, and InnoPack for packaging. Adopting an exhibition format, with a strong focus on government engagement, educational content, networking, and matchmaking, CPhI MEA’s proposition aims to bring a regional mix of 70% visitors and exhibitors from KSA and 30% from outside the kingdom.
 
It is the only pharma event in the region covering pharma manufacturing, bringing together nearly 4,000 key pharma suppliers and buyers, connecting local, regional, and international professionals from across the entire pharma supply chain, from ingredients to finished product distribution.
 
Under the patronage of Dr Tawfiq Al Rabiah, Saudi Arabia’s Minister of Health, the move to Saudi Arabia and taking place in conjunction with GHE, will create a larger platform for the regional pharma community and underscores the commitment of the country to the global pharmaceutical industry, Informa Markets said.
 
Ellis said: “CPhI Middle East & Africa aims to provide the regional pharma community with the optimum platform to grow and do business. After discussions at the highest levels, both internally and externally with our key partners and stakeholders, CPhI Middle East & Africa will now take place in September, alongside GHE and under the patronage of Saudi Arabia’s Ministry of Health.
 
“We believe this decision will offer all participants the highest value and maximise their return on investment, while also providing more networking opportunities and educational content to facilitate growth in the region.
 
“It also underscores the importance of the pharma market in the region by highlighting Saudi Arabia’s commitment to healthcare in the country, and its ambition to become a regional hub for multinational pharma companies,” she added.
 
GHE, the premier healthcare trade platform in Saudi Arabia for medical manufacturers, dealers & distributors, hospitals, and general healthcare service providers, attracts over 15,000 attendees, creating the ideal platform to do business with the global healthcare industry.
 
“The GHE is an ideal healthcare platform and provides perfect synergy with CPhI MEA. Bringing two successful brands together, we can empower the regional pharma market growth and better meet the pharma community's requirements. It also allows us to highlight innovation, content, and networking to its highest level,” said Ellis.
 
As part of Informa’s commitment to participants' safety at all events and exhibitions, the company has launched Informa AllSecure.
 
The detailed set of enhanced measures, which includes ten priority commitments followed by all Informa events around the world, will provide the highest hygiene and safety levels to ensure the safety of attendees and staff. -- Tradearabia News Service

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