The MEA biologics and biosimilar market is set to experience robust growth in the coming decade, driven by increasing demand for advanced biologic treatments. According to a recent study by Future Market Insights, the market, valued at USD 512.6 million in 2023, is projected to expand at a CAGR of 5.5%, reaching approximately USD 875.6 million by 2033.
Key Highlights:
- Adalimumab Leads the Drug Segment: In 2022, adalimumab accounted for an impressive 36.7% market share, reinforcing its dominance in the biologics and biosimilar market within the MEA region.
- Steady Market Expansion: The anticipated growth is attributed to rising healthcare investments, increasing prevalence of chronic diseases, and the growing acceptance of biosimilar drugs across the MEA region.
- Market Dynamics: Biologics and biosimilars are playing a critical role in addressing unmet medical needs, particularly for autoimmune diseases, oncology, and other complex conditions.
Growth Drivers:
The biologics and biosimilar market is witnessing increased adoption due to:
- Affordability of Biosimilars: Cost-effectiveness compared to original biologic drugs is driving their acceptance among healthcare providers and patients.
- Advancements in Biologic Therapies: Innovations in biologic drug formulations and production techniques are ensuring safer and more effective treatments.
- Regulatory Support: Improved regulatory frameworks across the MEA region are facilitating faster approval and availability of biosimilars.
Outlook:
The market’s growth trajectory signals a significant opportunity for pharmaceutical companies to invest in biologics and biosimilars, particularly adalimumab and similar high-demand drugs. As healthcare infrastructure continues to improve in the MEA region, the adoption of these advanced therapies is expected to surge.
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Country-wise Insights:
Kingdom of Saudi Arabia (KSA): A Leading Market in the MEA Region
- Market Share: KSA accounted for 34.1% of the MEA biologics and biosimilar market in 2022 and is expected to maintain this trend.
- Market Drivers:
- Government initiatives aimed at improving patient access to medications.
- Financial constraints pushing for cost-effective solutions like biosimilars.
- A supportive regulatory framework fostering market growth.
- Future Outlook: KSA is poised to remain the most lucrative market in the MEA region, with increased availability and uptake of biologics and biosimilars.
United Arab Emirates (UAE): A Highly Lucrative Market
- Market Share: The UAE held 19.3% of the MEA biologics and biosimilar market in 2022.
- Market Drivers:
- Strategic investments by local and regional companies in collaboration with global entities like Biocad and Sedico.
- High demand for anticancer biologics due to cancer being the second leading cause of death in the region, following heart disease.
- Market Potential: Untapped opportunities and partnerships are driving substantial growth in the biosimilar segment.
Kuwait: A Rapidly Developing Market
- Market Share: Kuwait accounted for 14.8% of the MEA biologics and biosimilar market in 2022.
- Market Drivers:
- Growing population and increasing demand for medications.
- Enhanced acceptance of generics and biosimilars among stakeholders, physicians, and pharmacists, driven by affordability and ease of administration.
- Market Dynamics: Changing perceptions are supporting the growth trajectory of biosimilars in Kuwait.
These insights highlight the dynamic growth and potential of the biologics and biosimilar market across the MEA region, with each country contributing uniquely to the overall market expansion.
Competitive Landscape
Leading players in the MEA biologics and biosimilar market actively engage in product launches, expansions, partnerships, mergers, and acquisitions to enhance their market presence and refine their business strategies globally. These activities form the cornerstone of their promotional and growth initiatives.
- Abbott Operations Uruguay S.R.L. and Shanghai Henlius Biotech, Inc. entered into a semi-exclusive licensing agreement in May 2022 for the marketing of Henlius’ independently developed biologics HANLIKANG (rituximab) and HANQUYOU (trastuzumab, also known as Zercepac® in Europe) in Brazil.
- Ligand Pharmaceuticals Corporation acquired Pfenex Inc. in September 2020. Pfenex specializes in producing biosimilars such as teriparatide, ranibizumab, and pegfilgrastim.
- Hikma Pharmaceuticals announced in July 2022 a marketing agreement with Celltrion for the promotion of its Yuflyma™ drug.
Key Companies Profiled:
- AbbVie Inc.
- Eisai Co Ltd
- Zydus Cadila(Cadila Healthcare)
- Amneal Pharmaceuticals, Inc.
- Pfizer Inc.
- Celltrion, Inc.
- Coherus BioSciences, Inc.
- F. Hoffmann–La Roche Ltd (Genentech, Inc.)
- Alexion(Astrazeneca)
- Johnson & Johnson
- Amgen
- Hikma pharmaceuticals plc.
Key Market Segments Covered in MEA Biologics and Biosimilar Industry Research:
Drug:
- Adalimumab
- Bevacizumab
- Trastuzumab
- Ustekinumab
- Golimumab
- Eculizumab
- Rituximab
Drug Class:
- Antirheumatics
- TNF Alfa Inhibitors
- VEGF/VEGFR Inhibitors
- HER2 Inhibitors
- Selective Immunosuppressant’s
- Interleukin Inhibitors
Dosage Form:
- Subcutaneous
- Intravenous
Indication:
- Cancer
- Arthritis
- Rheumatoid
- Psoriatic
- Others
- Skin Disorders
- Plaque-Type Psoriasis
- Hidradenitis Suppurativa
- Inflammatory Bowel Disease (IBD)
- Crohn’s Disease
- Ulcerative Colitis
- Rare Disease
- Others
Distribution Channel:
- Hospitals
- Specialty Clinics
- Cancer Research Centers
- Retail Sales
- Retail Pharmacies
- Mail Order Pharmacies /Online Sales
Country:
- UAE
- Bahrain
- Iraq
- Jordan
- Kuwait
- Lebanon
- Oman
- Qatar
- KSA
- Iran
- Palestine
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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