The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2017
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The Middle East & Africa (MEA) was the second-fastest growing market for analgesics over the review period of 2012-2017, posting a historic CAGR of 3%, and exceeded only in speed by Asia Pacific. Growth in the region is driven largely by an expanding middle class with more disposable income to spend on OTC products, and an emphasis on preventive public health measures by governments, that has contributed to an absolute retail sales value gain of USD398 million across the region over 2012-2017.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
MEA was the second-fastest growing market for analgesics over the review period of 2012-2017, posting a historic CAGR of 3%, and exceeded only in speed by the Asia-Pacific region at 4%. Growth in the region is driven in large part by an expanding middle class with more disposable income to spend on OTC products, and an emphasis on preventive public health measures by governments, that has contributed to an absolute retail sales value increase of USD398 million across the region over 2012-2017.
Across the region, the top three companies in terms of market share in 2017 were GlaxoSmithKline (18%), Sanofi (7%), and Reckitt Benckiser (3%), all Western-owned companies that benefited from a strong consumer preference for branded products that are generally seen as safer and more efficacious than local alternatives. That said, this may change in future as governments continue to support and fund locally-owned pharmaceutical companies, as they have begun to do in Saudi Arabia, Iran, and the United Arab Emirates (UAE), where market share is more divided.
Saudi Arabia is by far the largest market for analgesics in MEA, with USD429 million in sales in 2017, far exceeding Algeria with USD239 million and South Africa with USD234 million. Looking ahead to 2022, growth in Saudi Arabia is expected to drive overall regional growth, as the market is expected to see a forecast period CAGR of 6%, which will result in an increase in absolute retail value sales of USD146 million.
As other regions see a trend toward topical analgesics, a greater regulation of ingredients such as codeine, and continued strength in big-name corporations, MEA has largely been immune to these trends: systemics are still much more popular than topicals, codeine is still sold OTC in most markets, and governments across the region support and finance the growth of local competitors to big-name companies.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.