Saudi Arabia antirheumatic drugs market was valued at US$517.880 million in 2019. The antirheumatic drugs market in Saudi Arabia is projected to show nominal growth throughout the forecast period owing to the low prevalence of arthritis in the country. However, the growth in the country may be attributed to the presence of a state-of-art healthcare system of the country. Saudi Arabia is one of the most prominent countries of the MEA region Saudi Arabian region regarding the development of its healthcare services and infrastructure. The current healthcare expenditure, as a percentage of the GDP of the country, has been on a steady rise since 2010 (source: The World Bank Group). In absolute figures, the country allocated US$39.2 billion in 2018 for Healthcare and Social Development Sector, which was 10% more than the previous year. Moreover, the Saudi Vision 2030, further aims to improve the healthcare infrastructure and the services in the country. This, in turn, is projected to provide ample opportunities for the key market players to invest in the country and further gain a competitive edge in the market.
In addition, significant growth in the geriatric population of the country is also anticipated to provide an impetus for the market to grow during the next five years. Since 2013 the geriatric population of the country has been increasing exponentially after a continuous decline from 2001. According to the World Bank Group, the geriatric population (population ages 65 and above) in the country reached 3.314% of the total population by 2018 from 2.937% in 2013. This, in turn, is projected to positively impact the market growth during the next five years as people in old age are more susceptible to arthritis in other similar conditions.
Saudi Arabia antirheumatic drugs market has been segmented on the basis of the type of disease, type of molecule, and sales channel. On the basis of the type of disease, the market has been classified on the basis of osteoarthritis, rheumatoid arthritis, gout, lupus, and others.By the type of molecule, the market has been segmented on the basis of pharmaceuticals and biopharmaceuticals. By the sales channel, the segmentation has been done on the basis of prescription and over-the-counter (OTC).
F. Hoffmann-La Roche Ltd
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