Saudi Arabia - Market Research

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Saudi Arabia

Market overview: The halal pharmaceutical sector in Saudi Arabia has been experiencing significant growth in recent years, and still has a way to go, driven by a combination of factors such as a growing Muslim population, increasing demand for halal-certified products, and to favorable government policies.

Regulations: Currently only food, meat and meat-based products require a mandatory halal certificate to enter the Saudi Arabian market, but the country is taking promising steps towards regulating halal pharmaceuticals.

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Market Size: Saudi Arabia has a population of 37 million of which 97% are Muslim.

Market Potential: Saudi Arabia Ranks second in terms of Pharmaceuticals Muslim Consumer Market Size hitting $9 Bn in 2021 and is expected to grow at a compound annual growth rate (CAGR) of around 6% between 2021 and 2026. Within this market, the halal pharmaceutical sector is expected to grow at an even faster rate, driven by the increasing demand for halal-certified products and the country’s efforts to promote and develop the halal industry. Saudi Arabia is also the number one OIC Importer of Pharmaceuticals with $5.61 Bn in 2020

Market Activity: Overall, the halal pharmaceutical market activity in Saudi Arabia is expected to continue to grow in the coming years, with several local, and international pharmaceutical companies establishing operations in the country to produce halal medicines.

Important Activities in the Saudi Halal Pharmaceutical Market:

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