The robust growth ahead of the pharma industry

The worldwide pharmaceutical industry and the UAE have grown with growing demand accompanied by scientific progress leading to product development with new and possibly more helpful drugs.
UAE pharmaceutical industry sales are estimated at approximately $3.1 billion by 2018. It is estimated that the size of the market has risen from about $2.4 billion in 2015. The majority were sales of prescription drugs, around 86% of total pharmaceutical sales in 2018. According to data from the UAE Federal Customs Authority, the UAE is estimated to have imported around Dh14.9 billion of products from the world market as part of pharmaceutical products (HS 30) in 2018.
In 2018, major import sources were Germany, the United States, France, and Switzerland. It is also estimated that UAE companies exported approximately Dh1.2 billion and re-exported around Dh3.8 billion of pharmaceutical products (HS 30) to the world market in 2018.
According to the UAE Federal Customs Authority, main export markets included Saudi Arabia and Iraq, while significant re-export markets included Kuwait, Iraq, and Bahrain in 2018.
UAE companies also manufacture pharmaceutical goods. In Dubai Science Park, for instance, medicine manufacturing includes medicines targeting cardiovascular diseases, psychiatric and neurological disorders, and gastroenterological illnesses. There are also companies involved in generic medicines manufacturing in the UAE.
Niche markets such as mHealth, development of orphan medicine and halal pharmaceuticals could provide potential possibilities across the value chain of pharmaceuticals. While some UAE companies might be specialized in developing these types of drugs, other companies might also profit from local distribution and sales of freshly developed drugs on the UAE market.
Positive variables such as rising population and earnings have resulted in enhanced demand in the UAE and around the globe for pharmaceutical products. On the supply side, scientific progress has also resulted in the development of drugs for the treatment of new diseases.