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Saudi Arabia Pharmaceutical Sector: Path to Global Leadership

How Vision 2030 is driving Saudi Arabia’s pharmaceutical innovation and market growth.

by Huda Marshad
July 22, 2025
in Industry
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Saudi Arabia is rapidly advancing its pharmaceutical sector, aiming for global leadership as part of Vision 2030. The Kingdom is building a knowledge-based economy, focusing on expanding its pharmaceutical manufacturing and healthcare infrastructure.

According to IQVIA and Euromonitor, pharmaceutical sales across the Middle East and Africa grew from USD 24.2 billion in 2020 to USD 29.5 billion in 2023, with projections to exceed USD 32.6 billion in 2024. Saudi Arabia leads this growth, increasing its market share from USD 8.7 billion to USD 11.6 billion, reflecting strong domestic demand and purchasing power.

Key therapeutic areas in Saudi Arabia are seeing robust growth. Sales in the top five categories are expected to rise from about USD 3.8 billion in 2019 to USD 5.6 billion by 2026, according to IQVIA. General medicines could surpass USD 2.8 billion, while consumer health products are forecast to reach USD 750 million, driven by preventive care trends. Areas like dermatology and digestive health are also expanding, growing at rates between 5% and 7% annually.

Government procurement remains crucial, with tenders valued at approximately USD 5.6 billion. Multinational companies such as Hikma and Sanofi each hold a 9% share, while local firms like SPIMACO and Tabuk Pharmaceuticals are close behind. Domestic production is diversifying, with over 2,100 registered products.

  • Pharmaceutical Solution Industries leads with 21% of national output
  • Tabuk and SPIMACO also play significant roles in the sector

Saudi Arabia’s strategy includes healthcare financing reforms, incentives for local manufacturing, and openness to foreign investment. The adoption of digital health solutions is also accelerating. While challenges such as rising costs and chronic diseases persist, the outlook remains positive for both local and international pharmaceutical companies, especially in areas like biologics and self-care.

With a growing domestic market and supportive policies, Saudi Arabia is on track to become a leading center for pharmaceutical innovation and healthcare in the Middle East and North Africa. The country’s progress signals a shift from ambition to reality, positioning it to meet local needs efficiently and expand its reach globally.

Tags: domestic productionhealthcare innovationpharmaceutical manufacturingVision 2030
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