The pharma market in Saudi has been growing considerably over the past few years mostly due to rising population, increasing access to healthcare, changing lifestyle as well as growing economy.

The Saudi government is considering the local pharma industry an important lever in the national economic agenda. Therefore, they are taking serious steps to promote the pharma industry and increase its share of local content as well as its contribution to GDP. This is orchestrated by the Ministry of Health and other government entities in line with Kingdom Vision 2030.

Historically, the pharma market in Saudi has been dominated by the international pharma players which make the highest share of medicines consumed locally. The government is deploying serious efforts to support existing local companies and promote new entrants. They are also championing joint ventures that would support growth in local value chain.

These efforts include formulating policies that favor domestic companies; Such policies incorporate public procurement, employment, drug registration, import tax… The government is also offering local players financial support in form of loans that cover up to 75% of the investment capital and or working capital. Further, the government is implementing initiatives to increase the number of specialized pharma colleges as well as research and development centers. With the increasing demand in pharma products, Saudi can easily tap into both the local and international markets by taking steps to ensure that the local industry can work efficiently to produce a supply of medicines that can satisfy the market.