Saudi Arabia, largest pharmaceutical market in the Gulf (By Sylodium, international trade directory)

Saudi Arabia keeps its position as the largest pharmaceutical market in the Gulf, while the UAE is the second largest, according to the GCC Pharmaceutical Industry report. The GCC Pharmaceutical Industry report released by Alpen Capital said the GCC pharmaceutical market size was estimated at $ 8.5 billion in 2012, compared to $ 7.7 billion in the previous year. Saudi Arabia is the largest pharmaceutical market in the GCC totally valued at $ 5.1 billion, primarily on account of its large consumer base. The per capita sales in the year amounted to $ 175. The total value of the UAE pharmaceutical industry was estimated at $ 1.6 billion in 2012, having grown by close to 3 percent from $ 1.5 billion in 2011. The Saudi market thrives on provision of free medical and health care services by the government to its citizens. Around 35 percent of the pharmaceuticals available for sale are purchased by the government. However, compulsory health insurance for expatriates, who reside in the Kingdom in large numbers, and the healthy personal income of locals mean that the private sector’s contribution and out-of-pocket expenditure is also high. Sylodium (global import export directory) you can advertise for free your company or your project, at the intersection of cities that you want, for example; Riyadh (Saudi Arabia) – Abu Dhabi (UAE) or any city around the World.