Up until 2030, the Saudi Arabian drug market is projected to grow by 58% (16. 2 billion riyals), from 27. 9 billion riyals in 2020 to 44. 1 billion riyals in 2030.
Today, Saturday, the Saudi newspaper Al -Iqtisadiya expected, based on the data of the Ministry of Industry and Mineral Resources, that the Kingdom will be the largest consumer of biological drugs in the region, while local production currently focuses on packaging and final boiling of medicines, noting that due to the limited capabilities, local production covers some It makes up about 25% of the request, whereas imports make up 75% of pharmaceutical products.
It is noteworthy that vital medications are treatments that are made through genetic engineering techniques within living cells, that is, they are extracted from vital organs such as bacteria and fungi, while traditional drugs are extracted from chemicals.
By 2030, the Kingdom’s market is expected to be more dependent on biological medications than it is on standard pharmaceutical preparations, according to predictions from the existing markets.
Saudi Arabia: By 2030, the country expects the pharmaceutical market to reach 44 billion riyals.
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