Saudi Arabia’s pharmaceutical market to hit $15.3b by 2028

It is projected to remain the largest market in the Middle East and North Africa region.

Saudi Arabia is projected to remain the largest pharmaceutical market in the Middle East and North Africa region, with its market size expected to increase from $12b in 2023 to $15.3b by 2028, according to BMI.

A key development includes the launch of Japan-based pharmaceutical company Esai’s new subsidiary in the country, which started operations on 2 October. 

“The establishment of Eisai’s local sales subsidiary in Saudi Arabia highlights the pharmaceutical industry’s recognition of the significant market growth potential in the Middle East,” the report said.

Whilst Eisai has been active in the Middle East through local distribution partners, this move marks a shift towards direct control in its marketing and distribution activities. The company is currently in the process of taking over commercial rights for its products in Saudi Arabia from these partners.