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Pharmaceutical Market Essay

Powerful Essays
Faculty of Business Studies

B301B: Making Sense of Strategy II

Second Semester 2013 – 2014

Name: Bilal Zaza
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Introduction: this paper illustrates the Saudi Pharmaceutical market. it shows the factors that effects on the market. it also, shows the domestic demand conditions of the industry. as well as the related and supporting industries. it shows several local characteristics about firms and the nature of competition in this industry. The importance of the government in supporting this industry. Last, the porters five forces analysis have been taking into consideration throughout the research, in order to cover the significant aspects while viewing the mentioned market.
The Market:
Saudi Arabia Pharmaceutical industry recorded an important raise during the years owing to variety impacts like increasing ageing population mostly in the above 60 years bracket, changing demographics and growth in the incidence of lifestyle diseases, rose spending power, result driven government initiatives to promote the increase of indigenous pharmaceutical companies. The pharmaceutical industry in the country still emerging. The drug manufacturing is at a relatively nascent stage owing to many challenges, which need to be resolved (Dallas, 2013).
Pharmaceuticals products sales in Saudi Arabia are expected to surpass US$ 7 Billion by 2018 as compare to US$ 4 Billion 2012. Saudi Arabia is expected to emerge as one of the fastest growing markets in future. The country is one of the most developed and technologically advanced medical sectors in the GCC Region with modern equipment and amenities (Dallas, 2013).
Given a sizeable population base and relatively active domestic pharmaceutical manufacturing segment, Saudi Arabia was...

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