Pharmaceutical Industry in Saudi Arabia: 65% of GCC, 8.7% growth until 2018

Khalid Abdul-Latif Youssef is executive manager of Jamjoom Pharma talks about the pharmaceutical industry in Saudi Arabia and Jamjoom Pharma — one of the leading pharmaceutical companies in Saudi Arabia.

He says, “The pharmaceutical market in Saudi Arabia is the largest in the Middle East. It represents 65% of the GCC market. The outlook for growth for the next 10 years, in the Saudi Arabia pharmaceutical market is very positive. The total pharmaceutical market is about USD 6.7 billion. We have a 3.2% market share. The Saudi pharmaceutical market is set to achieve a steady growth with a compound average growth rate of 8.7% until 2018. Pharmaceutical spend per capita in Saudi Arabia is around USD 230.         

As I mentioned before, the total pharma market is expected to keep growing at an average of 8.7% until 2018. By the end of 2014, the market was growing by almost 10%. Our company was growing by 19%., which was the 2nd highest growth. If you look at average compound growth, we are again showing the 2nd highest growth”