MENA Pharmaceutical Market stands for The Middle East and North Africa pharmaceutical market. MENA pharmaceutical market consists of 19 countries of middle east and North Africa. Let’s first list out what are the the countries are part of the MENA pharmaceutical market.
- Saudi Arabia
- United Arab Emirates
Moreover, apart form above 19 countries, another 16 countries are sometimes included depending on usage. These are Afghanistan, Armenia, Azerbaijan, Chad, Comoros, Cyprus, Djibouti, Eritrea, Ethiopia, Georgia, Mali, Mauritania, Niger, Somalia, Sudan, and Turkey. The population of the region is at least 381 million or 6% of the world’s population.
Egypt (94 million), Iran (80 million), and Algeria (40 million) are the most populous countries in the region.
Middle East Region
The Middle East is a transcontinental region which includes Western Asia (although generally excluding the Caucasus) and all of Egypt (which is mostly in North Africa). Here are the major countries in Middle East Region.
- Saudi Arabia
All GCC countries are the part of Middle East region.
Gulf Cooperation Council – GCC countries
GCC stands for Gulf Cooperation Council. GCC political and economic alliance of six Middle Eastern countries—Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman. All GCC countries are part of the middle east region. Therefore, GCC countries are also part of the Middle East and also MENA region.
So, MENA region covers all the countries of Middle East and GCC regions also.
First of all, the Middle-East and North Africa consists of 18 countries from Morocco to Iran. The region has gradually developed its pharma market and more than 140 companies are operating in the region. MENA pharmaceutical market accounts approximately 2% of the world market.
The pharmaceutical sector in the Middle-East and North Africa (MENA) has observed remarkable growth over the last few years. Probably, MENA pharmaceutical market is estimated to reach around US$60 billion by 2025, with US$1.2-billion allocated for the healthcare system in the 2019 budget.
With governments in the region focusing more and more on the well-being of a growing population and enhancing healthcare services, timely and safe delivery of medical supplies and pharmaceuticals products has laid down the promising future for pharmaceutical industry in the region. MENA pharmaceutical market’s growth in the region is largely driven by high population growth, increased life expectancy and the predominance of lifestyle-related diseases such as diabetes, as well as the desire for excellent healthcare services among countries in the region.