The volume of pharmaceutical market in the Kingdom is estimated at nearly SAR 13.5 billion, including government procurement deals, Arab News reported citing local media.
Share of the private sector in the market is touching SAR 7 billion, the experts said.
Meanwhile, head of marketing at Nahdi Medical Company Husam Al-Qurashi said the number of individually-owned pharmacies in the Kingdom reaches 7,000 pharmacies but, however, there is scarcity in young Saudis working in local market and that 60% of graduates from pharmacy colleges are women.
He said local drugs factories have succeeded in producing alternative drugs for treatment of chronic diseases, carrying same specifications and high quality pharmaceutical standards of the origin countries but at lower prices.
The per capita consumption of medicines in the GCC and Arab countries stands at $52 and $3.2 per year, respectively. Share of Arab and GCC countries to the global consumption is estimated at 1.5%, the report said.
Share of the private sector in the market is touching SAR 7 billion, the experts said.
Meanwhile, head of marketing at Nahdi Medical Company Husam Al-Qurashi said the number of individually-owned pharmacies in the Kingdom reaches 7,000 pharmacies but, however, there is scarcity in young Saudis working in local market and that 60% of graduates from pharmacy colleges are women.
He said local drugs factories have succeeded in producing alternative drugs for treatment of chronic diseases, carrying same specifications and high quality pharmaceutical standards of the origin countries but at lower prices.
The per capita consumption of medicines in the GCC and Arab countries stands at $52 and $3.2 per year, respectively. Share of Arab and GCC countries to the global consumption is estimated at 1.5%, the report said.
Source:
Mubasher
