The global pharmaceutical manufacturing market is expected to reach $184.9 billion in 2024, with expectations to increase to $345.6 billion by 2033, at a compound annual growth rate of 7.2%, according to Globe Newswire.
As for the market’s global revenues, it is expected to reach $1.16 trillion in 2024, with a compound annual growth of 4.71%, bringing the market size to $1.45 trillion by 2029, according to what was reported by the “Statista” platform.
In the Middle East and North Africa region, the pharmaceutical market has witnessed significant growth in recent years thanks to economic and social developments and improved healthcare infrastructure. The market is expected to reach $60 billion in value in 2025, with a compound annual growth of 6.8% between 2023 and 2028, according to the “Senza” and “APCO Worldwide” platforms.
Multinational companies account for 59.4% of the market, while growth rates for local companies range between 7.5% and 11.2%, according to the same source.
On the other hand, an increase in demand for local medicines has been observed in Arab countries since the aggression on Gaza, as citizens indicated their preference for national products because of their quality and reasonable prices compared to foreign medicines. Dr. Sham Al-Sheikh Hussein, director of one of the major pharmacies in Jordan, confirmed that there is an automatic boycott of foreign medicines and an increase in demand for local products, according to her statements.
A look at the most prominent Arab countries that produce and manufacture medicines
The pharmaceutical industry is one of the vital sectors in the Arab world, as many countries are witnessing major developments in this field thanks to intensive government investments and expansion of health infrastructure.
The features of the pharmaceutical market vary from one country to another based on the size of local demand, rates of local manufacturing, and export trends. Below is a look at the most prominent Arab countries that produce and manufacture medicines.
Saudi Arabia is one of the largest Arab markets for pharmaceuticals, with revenues from this sector expected to reach $10.13 billion in 2024, and grow to $16.8 billion by 2034 at a compound annual growth rate of 5.2%, according to the “Future Market Insight” platform.
Saudi Arabia produces only 30% of its pharmaceutical needs locally, and seeks to localize 40% of production through large investments, such as King Abdullah Economic City, which hosts many pharmaceutical factories.
Among the most prominent companies are Tabuk Pharmaceuticals, Spimaco, and Hikma Pharmaceuticals, according to the same source.
The Egyptian pharmaceutical market represents one of the largest markets in the region with a size of $6.1 billion annually, according to what Egyptian Minister of Health and Population Khaled Abdel Ghaffar revealed last September.
Private and multinational companies produce 90% of registered medicines, while the country’s exports are estimated at one billion dollars annually, with the possibility of increasing them to $1.3 billion through registering medicines abroad, according to the minister’s statement.
Among the most prominent pharmaceutical companies in Egypt are: Amoun Pharma, Eva Pharma, and Pharco Pharmaceuticals, according to the Egypt Business Directory platform.
The Jordanian pharmaceutical sector constitutes an important economic pillar, as its exports recorded a growth of 19% in 2023 to reach $869.1 million compared to $725.8 million in 2022, according to the Jordan Food and Drug Administration.
Jordan exports medicines to 73 global markets, and seeks to increase its exports to $4.17 billion by 2033, according to the Jordanian News Agency, Petra.
Among the most prominent companies are: Hikma Pharmaceutical Company and Dar Al Dawaa for Development and Investment.
The UAE pharmaceutical market was valued at $4.38 billion in 2023, with an expected growth at a compound annual rate of 7.6% until 2029, according to the Research and Markets platform.
The market depends on key factors such as population expansion and increased government spending on health infrastructure.
Among the most prominent companies: Julphar and Pfizer Gulf, according to the same source.
Morocco is a leading platform for pharmaceutical production in Africa, with the local pharmaceutical industry covering 65% of national needs, with exports to Europe, Africa and Asia.
The sector’s total sales amounted to $1.7 billion, representing 5.2% of the domestic industrial output, according to the “Morocco Now” platform.
Among the most prominent companies: Laprovan and Cooper Pharma.
Domestic pharmaceutical production covers 55% of national needs, with a market size of $4.5 billion in 2023, according to the Mobility Foresight platform.
Algeria has received large foreign investments in recent years from French pharmaceutical companies, with the government setting the percentage of ownership by foreign investors at 49%.
Among the most prominent companies: Sanofi and Novo Nordisk.
Tunisia covers 49% of its pharmaceutical needs domestically, with a market worth $2.15 billion in 2023, and revenues are expected to grow by 12.9% annually to reach $5.03 billion by 2030, according to the Maximize Market Research platform.
Tunisian industry is distinguished by advanced technologies and product safety.
Among the most prominent companies: Central Pharmacy and Triac Laboratories.
The 7 most prominent Arab pharmaceutical companies
Arab pharmaceutical companies have emerged as regional and international forces that contribute to meeting the needs of local and global markets. These companies rely on innovative strategies in manufacturing, marketing, and geographical expansion, which has made them occupy an advanced position in the global pharmaceutical market.
Below we review the 7 most prominent Arab drug manufacturing companies, based on their market value or sales volume, according to available economic sources.
- Al-Hikma Pharmaceutical Company (Jordan)
It is the largest pharmaceutical company in the Arab world with a market value of $5.15 billion. Founded in 1978 in Jordan by Samih Darwaza, it was the first Arab company to enter the American, British and European markets.
The company expanded to acquire factories in America, Portugal, Italy, Tunisia, Saudi Arabia, Egypt and Algeria, and its products reach 52 global markets.
- Jamjoom Pharma (Saudi Arabia)
It was established in 2000 as a Saudi contribution to providing high-quality pharmaceutical products. It operates in the manufacture and marketing of medicines bearing distinct brands, with a market value of $2.79 billion.
- Spimaco (Saudi Pharmaceutical Industries and Medical Devices Company)
It is a leading Saudi company with a market value of one billion dollars. Its factory is located in the Qassim Industrial Zone, and it has a regional presence in 16 countries.
- Avalon Pharma (Saudi Arabia)
One of the leading pharmaceutical companies in Saudi Arabia, with a market value of $660 million.
It exports its products to 15 countries in the Middle East, North Africa and Eastern Europe.
- Tabuk Pharmaceutical Industries Company (Saudi Arabia)
It is considered one of the largest privately owned companies in Saudi Arabia. It was established in 1994 and is headquartered in Riyadh.
In 2023, it achieved sales of $407.7 million, a growth of 16.5% compared to $350 million in 2022.
- Julphar (UAE)
It was founded in 1980 and focuses on key therapeutic sectors such as diabetes, respiratory, and cardiology.
It has a market capitalization of $460 million, according to MarketCap.
- Amoun Pharma (Egypt)
It was founded in 1998, and has achieved remarkable growth in its revenues, with sales reaching 1.9 billion Egyptian pounds ($38.5 million) in 2016, and is expected to reach 5.7 billion pounds ($115.5 million) in 2023.
The company adopts effective marketing and sales strategies to capture larger market shares.
