The Middle East and Africa drug delivery market was valued at US$26.633 billion in 2020 and is expected to register a CAGR of 27.60% to reach the market size of US$146.651 billion in 2027. The growth is attributed to the rise in the prevalence of chronic diseases and the growing geriatric population in the region.
Drug delivery is a therapeutic process that introduces therapeutic effects to the human body by way of drug administration at a specific site of the body. The efficacy of a drug and the safety of a patient cannot be improved by controlling the time, rate, and release of the drug into the body. There are various ways of drug delivery, such as oral, nasal, injection, pulmonary, and others. The advancement in technology, such as the introduction of nanotechnology, has improved the drug delivery process and made it more efficient.
The rising rate of diagnosis and treatment is expected to boost the Middle East and African drug delivery markets
Life expectancy in the countries of the Middle East and Africa has been growing in the last few years. For instance, the life expectancy age in Israel according to world bank data has reached up to the age of 82.8 years. At the same time, the life expectancy age in Saudi Arabia and the UAE has been raised to 75 years and 77 years, respectively. This ultimately propels the growth of the geriatric population. With this, awareness regarding diagnosis and treatment is also expected to grow. The major geriatric population in developed and developing countries has started to prefer self-administering drugs.
Moreover, the health expenditure on healthcare in these countries is also rising. For instance, the domestic general government health expenditure by the African government in 2018 was increased by 70.5%. This has created opportunities for the drug dealing industry sector in the Middle East and Africa region. The demand for generic medicines due to their affordable costs and for biosimilar drugs has been increased. This has led to a robust drug dealing market in the region.
However, the side effects of allopathy, or drugs that may cause severe infections to a specific body part or sometimes overall human health, and needle-stick injuries are factors that keep the majority of the population in developing countries and rural areas using traditional medicines. This hampers the growth of the drug-dealing market in the Middle East and Africa region.
South Africa holds a significant market share
In terms of awareness regarding the diagnosis and treatment, South Africa is one of the leading countries in the Middle East and Africa. Thus, the demand for drugs in this country is greater as compared to other countries. This is why the market density here is higher. The demand is estimated to rise in upcoming years. With the increasing demand, the drug-dealing market is expected to grow during the forecast period.
In December 2021, Biocon, a biotechnology major, announced a tie-up with Tabuk Pharmaceutical Manufacturing Company, which is a Saudi Arabia-based drug firm. The pack has been signed in an attempt to commercialise the region's select specialty products. COVID-19 Impact on the Middle East and Africa’s Drug Delivery Market:
The threat of such diseases has been increased after the outbreak of COVID-19. On account of the precautions, the consumption of medicine has been increased. Thus, the demand for drug dealing has increased since 2019 and is estimated to grow in upcoming years. Hence, with the positive impact of COVID-19, the drug-dealing market in the region is estimated to grow in the future.
|Market size value in 2020||US$26.633 billion|
|Market size value in 2027||US$146.651 billion|
|Growth Rate||CAGR of 27.60% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, And Country|
|Regions covered||South Africa, Saudi Arabia, Israel, Others|
|Companies covered||Tabuk Pharmaceutical Manufacturing Company, Pfizer Inc., ANTARES Pharma, Glaxosmithkline Plc., Merck Sharp & Dohme Corp., Sanofi, Bayer AG|
|Customization scope||Free report customization with purchase|
Tabuk Pharmaceutical Manufacturing Company
Merck Sharp & Dohme Corp.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.