MENA Biologics & Biosimilars Market Poised to Grow at a Robust Pace Due to Rising Demand for Cost-Effective Biologics
MENA Biologics & Biosimilars Market Poised to Grow at a Robust Pace Due to Rising Demand for Cost-Effective Biologics
The MENA biologics & biosimilars market offers a wide range of therapeutic biologics such as monoclonal antibodies, vaccines, recombinant proteins, and blood components used for treating various chronic and complex diseases.

The MENA biologics & biosimilars market offers a wide range of therapeutic biologics such as monoclonal antibodies, vaccines, recombinant proteins, and blood components used for treating various chronic and complex diseases. Biologics are large molecules produced through biological processes in live organisms and are more complex than chemically produced small molecule drugs. Biosimilars are biologic medical products that are similar to an original biologic product, known as the reference product, that has already received marketing authorization. The growing geriatric population suffering from chronic diseases, increasing biologics patent expirations opening avenues for biosimilars, and rising healthcare expenditure are the crucial factors driving the demand for affordable biologics in the region.

The Global MENA Biologics & Biosimilars Market is estimated to be valued at US$ 578.54 Mn in 2024 and is expected to exhibit a CAGR of 1.1% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in The MENA Biologics & Biosimilars Market are AstraZeneca, Eli Lilly and Company, Sanofi, Novo Nordisk A/S, Pfizer Inc. Key players are focusing on emerging markets by launching affordable biosimilars and are investing heavily in R&D to develop novel biologics for untreated diseases.
The growing prevalence of chronic diseases, rising healthcare awareness, increasing healthcare spending, and supportive government regulations provide significant opportunities for market players to tap the untapped MENA market.
Advent of cutting-edge technologies such as artificial intelligence, 3D-bioprinting, continuous manufacturing is enabling faster development of complex biologics and cheaper biosimilars thus fueling the market growth.

Market Drivers
The increasing geriatric population which is more prone to chronic diseases like cancer, diabetes, arthritis is a key factor driving the MENA biologics & biosimilars market. It is estimated that around 17% of the MENA population will be aged 65 and above by 2030. Secondly, rising healthcare expenditure in MENA countries will also contribute to market growth as biologics are an integral part of the treatment of complex chronic conditions and governments are increasingly making biologics accessible through national health plans.

Current challenges in MENA Biologics & Biosimilars Market:
The MENA biologics and biosimilars market faces challenges like lack of regulation and established patent frameworks in various countries. Due to less awareness and education regarding benefits of biosimilars among patients and physicians, the adoption rate is lower. High pricing of branded biologics also restricts greater access and affordability for patients in the region.

SWOT Analysis
Strength: Growing prevalence of chronic diseases like diabetes, cancer etc. is increasing the demand for biologics and biosimilar drugs.
Weakness: Limited in-house manufacturing capabilities and R&D infrastructure for developing complex biologics.
Opportunity: Emerging economies offer huge market potential with growing healthcare spending and demand.
Threats: Stringent regulatory norms can delay market entry of biosimilars. Risk of litigation from innovator companies over intellectual property issues.

Geographical regions of concentration:
The major markets in the MENA region accounting for high biologics and biosimilars sales currently are Saudi Arabia, United Arab Emirates and Egypt. Saudi Arabia represents around 25% of the total MENA market value due to large population size and improving healthcare infrastructure.

Fastest growing region:
Turkey is anticipated to be the fastest growing market in the MENA region during the forecast period backed by rising disposable income, expanding health insurance coverage and presence of local pharma companies. The entry of new biosimilars in oncology and autoimmune disease segments will further aid Turkey's market growth.

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