Although it only represents 2.5% of the global pharmaceutical market, the MENA market has been witnessing sustainable growth. It is estimated to increase at an annual average of 9-10% until 2020, with a combined total value reaching $36 billion at retail price in 2015.
Driven by underserved medical needs and increased awareness, governments have been heavily investing in both infrastructure and access to innovative medicine.
Recent trends favoring growth in the MENA pharmaceutical sector:
The total pharma market in the Gulf Cooperation Council (GCC) exceeded $9 billion in 2014 (Source: Alpen Capital) driven by Saudi Arabia, followed by Egypt, Algeria and UAE (Source IMS data). Other markets continue to grow in size and to provide untapped opportunities for pharmaceutical companies.
Genpharm Services focuses on servicing its strategic partners, through evidenced based market access strategies, business development, pharmaceutical consulting and turn key services, in the areas of innovative and orphan drugs, rare and autoimmune diseases, where sizable opportunities are supported by these market trends.