Noida, UP -- (SBWire) -- 04/10/2011 -- According to our latest research report “Saudi Arabian Healthcare Market Forecast to 2012”, the pharmaceutical market has been growing stupendously for the past few years. Being primarily an import-based market, the pharmaceutical industry is expected to grow at a CAGR of around 10% during 2010-2012. This growth will be mainly driven by the increase in the sales of generics drugs in the country.
As per our research, the Saudi Arabian government is keen to promote generic drugs, mainly in the public sector, and the share of generics is expected to increase further 2-3% during the next two-three years. The optimistic outlook for the growth of this industry bases with fact that, the burden of diseases has been increasing along with rising awareness about healthcare among people.
Besides, we have done extensive research and prudent analysis of the Saudi Arabian healthcare industry to understand the factors that will continue to serve as growth drivers for the market in Saudi Arabia during the forecasted period. We have identified that the private sector will play a major role in the development of Saudi Arabian healthcare sector in the coming years. Further, demand for better healthcare is expected to rise due to the expanding population and high prevalence of chronic diseases will further fuel the growth of the hospital services market in the country.
Our research indicates that the Saudi Arabian healthcare industry shows immense potential for growth and is at the initial stages of development. The medical devices industry and the hospital services industry are also emerging rapidly.
Besides, our report “Saudi Arabian Healthcare Market Forecast to 2012” provides an extensive research and rational analysis along with reliable statistics of the Saudi Arabian healthcare industry. It covers major industries, segment-wise break up, disease-wise thorough analysis, and information on major emerging segments to present strategic insight into the market. The report has thoroughly examined current market trends; industrial developments and competitive landscape to enable clients understand the market structure and its progress in coming years.
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Generics to Scale High in Saudi Arabian Pharmaceutical Market
High costs of branded drugs and the government initiatives to raise the sale of generics in the country is driving the growth of the generics drugs in Saudi Arabia, says RNCOS in its latest research study.