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Proliferation of Lifestyle Diseases Augments Prospects for the Cardiovascular Drugs Market in Saudi Arabia and the UAE Finds Frost & Sullivan - Expanding base of ageing population fuels market growth - Pharma.Frost.com
Proliferation of Lifestyle Diseases Augments Prospects for the Cardiovascular Drugs Market in Saudi Arabia and the UAE Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2011/11/09 - Expanding base of ageing population fuels market growth - Pharma.Frost.com.

   
 
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The high incidence of lifestyle diseases, including obesity, hypertension and diabetes, in the UAE is the key factor driving growth in the cardiovascular drugs market. In the Kingdom of Saudi Arabia (KSA), the prominent growth drivers are the demographic shift toward baby boomers, the increasing incidence of cardiovascular diseases and mandatory health insurance for expatriate employees.

The cardiovascular drugs market in KSA witnessed double-digit growth from 2007 to 2010. The total pharmaceutical market in the UAE generated revenue of USD$1.3 billion, in 2010 and cardiovascular drugs contributed around 7.5 per cent of the total market revenue.

New analysis from Frost & Sullivan (pharma.frost.com), Analysis of Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates, finds that the KSA and UAE markets earned revenue of USD $100.2 million and USD $172.8 million in 2010 and are expected to grow at a CAGR of 16.5 per cent and 17.6 per cent to reach USD $291.4 million and USD $537.1 million in 2017, respectively.

"Within the cardiovascular drugs market, antihypertensives held the largest share of almost 60 per cent of the revenue in 2010, followed by antidyslipidemics (lipid lowering), which held a 37 per cent share," says Frost & Sullivan Pharmaceuticals Research Analyst. "The 'other' segment held a share of around three per cent."

Angiotensin Converting Enzyme (ACE) inhibitors and Angiotensin Receptor Blockers (ARBs) within the antihypertensives segment are the most preferred drugs in both the markets. Statins are the most-used drug class among antidyslipidemics in both markets.

The patent expiry of the key innovative molecules, stringent regulatory processes and government's encouragement of generics along with low patient compliance in the cardiovascular segment are the growth bottlenecks in the cardiovascular markets in KSA and UAE. In particular, many cardiovascular drugs including blockbusters will soon be off-patent and such expiries are not being replaced with new molecules.

"The government is patronizing generics to control spiralling healthcare and support the domestic pharmaceutical companies," observes the Analyst. "Although genericization is expected to propel consumption of medicines, it is likely to negatively impact the market size in terms of value."

Going forward, all three market segments - antihypertensive, lipid lowering and others (including multi-therapy combination drugs) are expected to grow. Identifying and targeting the right molecule within the market segments will ensure strong business traction.

Growth in the lipid-lowering drugs segment is expected to outpace that in the other segments. Their proportionate contribution to the total cardiovascular drugs market is likely to increase due to the higher incidence of dyslipidemia and modifications of guidelines for normal low density lipoprotein (LDL) level from 120mg/dl to 100mg/dl.

If you are interested in more information on this study, please send an email with your contact details to Deepshri Iyer/ Nimisha Iyer Corporate Communications, at deepshrii[.]frost.com/ niyer[.]frost.com with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Analysis of Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates is part of the Pharmaceuticals & Biotechnology Growth Partnership Service program, which also includes research in the following markets: European Diabetes Therapeutics Market, 2011 U.S. Diabetes Injection Pens Features and Global CRO Market: Quantitative Assessment. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Analysis of Cardiovascular Drugs Market in Saudi Arabia and the United Arab Emirates
P51B-52

Contact:
Tanu Chopra, Corporate Communications - Middle East and North Africa
P: +91 22 6607 2037 / F: +91 22 2832 4713 / E: tanu.chopra[.]frost.com.

 
 
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Proliferation of Lifestyle Diseases Augments Prospects for the Cardiovascular Drugs Market in Saudi Arabia and the UAE Finds Frost & Sullivan

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