Pharmaceuticals - United Arab Emirates

United Arab Emirates

The projected revenue for the Pharmaceuticals market in 2024 is estimated to reach US$1,956.00m.
Among the various markets, Oncology Drugs is expected to be the largest, with a projected market volume of US$346.60m in 2024.
Looking ahead, the revenue is anticipated to demonstrate a Compound Annual Growth Rate (CAGR 2024-2029) of 6.16%, resulting in a market volume of US$2,638.00m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$630.30bn in 2024.
The United Arab Emirates, being a significant player in the Pharmaceuticals market, is expected to contribute to this growth.
The United Arab Emirates is emerging as a hub for pharmaceutical research and development, attracting top global companies.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in United Arab Emirates has been experiencing significant growth in recent years, driven by various factors such as an increasing population, growing healthcare expenditure, and rising prevalence of chronic diseases.

Customer preferences: Customers in the UAE pharmaceuticals market are increasingly demanding high-quality and innovative drugs that are effective in treating various diseases. They are also seeking drugs that are affordable and easily accessible. With the rise of digitalization, customers are also looking for online channels to purchase pharmaceutical products.

Trends in the market: One major trend in the UAE pharmaceuticals market is the increasing focus on research and development of new drugs. Pharmaceutical companies are investing heavily in R&D to develop innovative drugs that can effectively treat various diseases. Another trend is the growing use of technology in the pharmaceutical industry. Digitalization is transforming the way pharmaceutical products are developed, marketed, and sold. Companies are increasingly using digital platforms to reach out to customers and promote their products.

Local special circumstances: The UAE pharmaceuticals market is highly regulated, and the government plays a significant role in regulating the industry. The Ministry of Health and Prevention is responsible for regulating the pharmaceutical industry in the country. The government has also implemented various initiatives to promote the development of the pharmaceutical industry and improve healthcare services in the country.

Underlying macroeconomic factors: The UAE's growing population, coupled with rising healthcare expenditure, is driving the growth of the pharmaceuticals market. The prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is also increasing, leading to a higher demand for pharmaceutical products. The UAE government's focus on improving healthcare services and promoting the development of the pharmaceutical industry is also contributing to the growth of the market. Additionally, the country's strategic location and favorable business environment are attracting pharmaceutical companies to invest in the UAE market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.