Saudi Arabia has the largest pharmaceutical sector in the Arabian peninsula. There is a growing number of pharmaceutical companies in Saudi Arabia owing to government increased spending on the health sector, and a focus on local production of drugs. There are more than 40 licensed pharmaceutical manufacturer in Saudi Arabia.. Global Pharmaceutical Companies in Saudi Arabia. Abbott Laboratories. Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs;.
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Revenues for pharmaceuticals industry in Saudi Arabia are estimated to rise at a 5.20% CAGR through 2034. The overall demand for pharmaceuticals in Saudi Arabia is likely to surge, crossing a valuation of US$ 10,113.1 million in 2024. By 2034, sales projections for pharmaceuticals in Saudi Arabia indicate attaining a valuation of US$ 16,789.6.. • The pharmaceutical market is expected to grow by 5.5% annually and reach $10.7 billion by 2023 • Saudi Arabia accounts for nearly 60% of the purchases of pharmaceutical products in the GCC • At least 5% of healthcare service spending will shift to non-hospital care settings Top achievements in KSA healthcare sector
