PUBLISHER: IMARC | PRODUCT CODE: 1451048
PUBLISHER: IMARC | PRODUCT CODE: 1451048
GCC Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032
The GCC generic drug market size reached US$ 5.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.7 Billion by 2032, exhibiting a growth rate (CAGR) of 10.6% during 2024-2032.
Generic drugs are bioequivalent of branded medicines, which have similar dosages, risks, effects, side effects, strengths, intended use and route of administration. They also have identical active ingredients and are relatively less expensive than their branded counterparts, as they do not require extensive research or testing. Nonetheless, their color and shape may differ from the original drug as altering these characteristics does not impact the effectiveness of the medicine. At present, there is a rise in the demand for generic drugs in the GCC region, owing to the developing healthcare industry and the growing awareness about the cost benefits offered by these drugs.
Owing to sedentary lifestyles, high per capita income and altering dietary patterns, there is a significant increase in the prevalence of lifestyle and chronic diseases, such as cancer, diabetes and obesity, in the GCC region. This represents one of the key factors impelling the generic drugs market growth in the region. Moreover, the growing geriatric population is also contributing to the increasing healthcare costs in the region. In line with this, governments of various countries in the GCC region, such as Oman and the United Arab Emirates (UAE), are encouraging the utilization of generic drugs, which is further bolstering the market growth. For instance, the Government of Oman recently introduced the Unified Health Insurance Policy (UHIP) that made health insurance mandatory for citizens and expatriates. It is catalyzing the demand for pharmaceuticals in the country which, in turn, is driving investments for generics manufacturing. Some of the other factors that are propelling the market growth include growing population, increasing penetration of health insurance companies, upcoming patent expiry of various blockbuster medicines and a strong influx of expatriates.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC generic drug market report, along with forecasts at the regional and country level from 2024-2032.
Regional Insights:
Saudi Arabia
United Arab Emirates (UAE)
Kuwait
Qatar
Bahrain
Oman
On the geographical front, Saudi Arabia represents the largest market for generic drugs in the GCC region. The large population in the country represents a key driving factor for the market. Moreover, the Government of Saudi Arabia is promoting joint ventures and sponsoring non-tariff barriers for pharmaceutical manufacturing in the country, which is further projected to accelerate the industry growth.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.
Key Questions Answered in This Report:
- How has the GCC generic drugs market performed so far and how will it perform in the coming years?
- What are the key regional segments in the industry?
- What has been the impact of COVID-19 on the GCC generic drugs market?
- What are the price trends of generic drugs?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the industry and who are the key players?
- What is the degree of competition in the GCC generic drugs industry?
- What are the profit margins in the GCC generic drugs industry?
- What are the key requirements for setting up a generic drugs manufacturing plant?
- How are generic drugs manufactured?
- What are the various unit operations involved in a generic drugs manufacturing plant?
- What is the total size of land required for setting up a generic drugs manufacturing plant?
- What are the machinery requirements for setting up a generic drugs manufacturing plant?
- What are the raw material requirements for setting up a generic drugs manufacturing plant?
- What are the packaging requirements for generic drugs?
- What are the transportation requirements for generic drugs?
- What are the utility requirements for setting up a generic drugs manufacturing plant?
- What are the manpower requirements for setting up a generic drugs manufacturing plant?
- What are the infrastructure costs for setting up a generic drugs manufacturing plant?
- What are the capital costs for setting up a generic drugs manufacturing plant?
- What are the operating costs for setting up a generic drugs manufacturing plant?
- What will be the income and expenditures for a generic drugs manufacturing plant?
- What is the time required to break-even?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Generic Drug Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Market Breakup by Region
- 5.4 Market Breakup by Drug Delivery
- 5.5 Market Forecast
6 GCC Generic Drug Industry
- 6.1 Market Overview
- 6.2 Market Performance
- 6.3 Impact of COVID-19
- 6.4 Market Breakup by Region
- 6.5 Market Forecast
- 6.6 SWOT Analysis
- 6.6.1 Overview
- 6.6.2 Strengths
- 6.6.3 Weaknesses
- 6.6.4 Opportunities
- 6.6.5 Threats
- 6.7 Value Chain Analysis
- 6.7.1 Overview
- 6.7.2 Research and Development
- 6.7.3 Raw Material Procurement
- 6.7.4 Manufacturing
- 6.7.5 Marketing
- 6.7.6 Distribution
- 6.8 Porter's Five Forces Analysis
- 6.8.1 Overview
- 6.8.2 Bargaining Power of Buyers
- 6.8.3 Bargaining Power of Suppliers
- 6.8.4 Degree of Competition
- 6.8.5 Threat of New Entrants
- 6.8.6 Threat of Substitutes
- 6.9 Key Success and Risk Factors for Manufacturers
7 Performance of Key Regions
- 7.1 Saudi Arabia
- 7.1.1 Market Performance
- 7.1.2 Market Forecast
- 7.1.3 Key Players
- 7.1.4 Regulatory Process for Generics Drug Industry in Saudi Arabia
- 7.2 UAE
- 7.2.1 Market Performance
- 7.2.2 Market Forecast
- 7.2.3 Key Players
- 7.2.4 Regulatory Process for Generics Drug Industry in UAE
- 7.3 Kuwait
- 7.3.1 Market Performance
- 7.3.2 Market Forecast
- 7.3.3 Regulatory Process for Generics Drug Industry in Kuwait
- 7.4 Qatar
- 7.4.1 Market Performance
- 7.4.2 Market Forecast
- 7.4.3 Regulatory Process for Generics Drug Industry in Qatar
- 7.5 Bahrain
- 7.5.1 Market Performance
- 7.5.2 Market Forecast
- 7.5.3 Regulatory Process for Generics Drug Industry in Bahrain
- 7.6 Oman
- 7.6.1 Market Performance
- 7.6.2 Market Forecast
- 7.6.3 Regulatory Process for Generics Drug Industry in Oman
8 Competitive Landscape
- 8.1 Market Structure
- 8.2 Market Share of Key Players
9 Generic Drug Manufacturing Process
- 9.1 Product Overview
- 9.2 Detailed Process Flow
- 9.3 Various Types of Unit Operations Involved
- 9.4 Mass Balance and Raw Material Requirements
10 Project Details, Requirements and Costs Involved
- 10.1 Land Requirements and Expenditures
- 10.2 Construction Requirements and Expenditures
- 10.3 Plant Machinery
- 10.4 Machinery Pictures
- 10.5 Raw Material Requirements and Expenditures
- 10.6 Packaging Requirements and Expenditures
- 10.7 Transportation Requirements and Expenditures
- 10.8 Utility Requirements and Expenditures
- 10.9 Manpower Requirements and Expenditures
- 10.10 Other Capital Investments
11 Loans and Financial Assistance
12 Project Economics
- 12.1 Capital Cost of the Project
- 12.2 Techno-Economic Parameters
- 12.3 Product Pricing and Margins across Various Levels of the Supply Chain
- 12.4 Taxation and Depreciation
- 12.5 Income Projections
- 12.6 Expenditure Projections
- 12.7 Financial Analysis
- 12.8 Profit Analysis
13 Key Player Profiles
List of Figures
- Figure 1: GCC: Generic Drug Market: Key Market Drivers and Challenges
- Figure 2: Global: Generic Drug Market: Sales Value Trends (in Billion US$), 2018-2023
- Figure 3: Global: Generic Drug Market: Breakup by Region (in %), 2023
- Figure 4: Global: Generic Drug Market: Breakup by Drug Delivery (in %), 2023
- Figure 5: Global: Generic Drug Market Forecast: Sales Value Trends (in Billion US$), 2024-2032
- Figure 6: GCC: Generic Drug Market: Sales Value Trends (in Billion US$), 2018-2023
- Figure 7: GCC: Generic Drug Market: Breakup by Region (in %), 2023
- Figure 8: GCC: Generic Drug Market Forecast: Sales Value Trends (in Billion US$), 2024-2032
- Figure 9: GCC: Generic Drug Industry: SWOT Analysis
- Figure 10: GCC: Generic Drug Industry: Value Chain Analysis
- Figure 11: GCC: Generic Drug Industry: Porter's Five Forces Analysis
- Figure 12: Saudi Arabia: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 13: Saudi Arabia: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 14: Saudi Arabia: Generic Drug Market: Breakup by Key Players (in %), 2023
- Figure 15: UAE: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 16: UAE: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 17: UAE: Generic Drug Market: Breakup by Key Players (in %), 2023
- Figure 18: Kuwait: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 19: Kuwait: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 20: Qatar: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 21: Qatar: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 22: Bahrain: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 23: Bahrain: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 24: Oman: Generic Drug Market: Sales Value Trends (in Million US$), 2018-2023
- Figure 25: Oman: Generic Drug Market Forecast: Sales Value Trends (in Million US$), 2024-2032
- Figure 26: GCC: Generic Drug Market: Breakup by Key Players (in %), 2023
- Figure 27: Generic Drug Manufacturing: Detailed Process Flow
- Figure 28: Generic Drug Manufacturing Process: Conversion Rate of Products
- Figure 29: Generic Drug Manufacturing Plant: Breakup of Capital Costs (in %)
- Figure 30: Generic Drug Industry: Profit Margins at Various Levels of the Supply Chain
- Figure 31: Generic Drug Production: Manufacturing Cost Breakup (in %)
- Figure 32: Generic Drug Production: Price Structure Analysis
List of Tables
- Table 1: Global: Generic Drug Market: Key Industry Highlights, 2023 and 2032
- Table 2: GCC: Generic Drug Market: Key Industry Highlights, 2023 and 2032
- Table 3: GCC: Generic Drug Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 4: Generic Drug Manufacturing Plant: Costs Related to Land and Site Development (in US$)
- Table 5: Generic Drug Manufacturing Plant: Costs Related to Civil Works (in US$)
- Table 6: Generic Drug Manufacturing Plant: Costs Related to Machinery (in US$)
- Table 7: Generic Drug Manufacturing Plant: Raw Material Requirements
- Table 8: Generic Drug Manufacturing Plant: Costs Related to Salaries and Wages (in US$)
- Table 9: Generic Drug Manufacturing Plant: Costs Related to Other Capital Investments (in US$)
- Table 10: Details of Financial Assistance Offered by Financial Institutions
- Table 11: Generic Drug Manufacturing Plant: Capital Costs (in US$)
- Table 12: Generic Drug Manufacturing Plant: Techno-Economic Parameters
- Table 13: Generic Drug Manufacturing Plant: Taxation and Depreciation
- Table 14: Generic Drug Manufacturing Plant: Income Projections (in US$)
- Table 15: Generic Drug Manufacturing Plant: Expenditure Projections (in US$)
- Table 16: Generic Drug Manufacturing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
- Table 17: Generic Drug Manufacturing Plant: Cash Flow Analysis on Considering the Income Tax Liability
- Table 18: Generic Drug Manufacturing Plant: Profit and Loss Account
