The Middle East is rapidly emerging as a key player in the global life sciences and pharmaceutical industry. With ambitious initiatives, strategic partnerships, and substantial investments, the region is poised to make significant contributions to healthcare innovation.
Over the last decade, the UAE’s pharmaceutical industry has seen a significant transformation, with manufacturing facilities growing from four in 2010 to 23 in 2021. This expansion reflects a strong commitment to boosting regional pharmaceutical capacity, providing affordable, high-quality medicines, and fostering innovation. The local market’s value has surged from $1.5 billion in 2011 to an estimated $3.7 billion in 2021, projected to reach $4.7 billion by 2025. The UAE now produces over 2,500 different medications, serving both domestic and global markets. In 2020, pharmaceutical exports reached $251 million to 48 countries, with an expected increase to $297 million by 2025. While imports remain significant at $2.6 billion in 2020, the sector offers substantial investment opportunities for sustainable growth, according to reports from ADQ.
This story is from the BioSpectrum Asia Oct 2023 edition of BioSpectrum Asia.
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This story is from the BioSpectrum Asia Oct 2023 edition of BioSpectrum Asia.
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