Local figures indicate that the volume of investment in the pharmaceutical sector in the Kingdom is the largest in the region, as it exceeds 30% of the Middle East market, while the number of pharmaceutical factories registered in Saudi Arabia exceeds 40 factories, covering only 30% of the Saudi market’s need for medicines. Writes Awad Al-Omari
The world after Corona will not return as before, this is a foregone conclusion, and many leaders of economics, politics and medicine agree about it, and many governments have begun actual preparations for re-adaptation to the post-Corona world.
One of the most prominent security vulnerabilities that appeared in the Corona pandemic is the drug exposure, after the interruption of global supply lines, many countries suffered a great shortage of medicines, including very simple medicines such as blood pressure and diabetes medicines, and blood transfusions such as aspirin, not to mention the medicines that are used to treat tumors and the device. Immune system. The global pharmaceutical industry has witnessed unprecedented levels, reaching $ 1.43 trillion in 2020, but this industry is controlled by limited countries, as Europe controls a market share of 70% in the pharmaceutical industry, and countries such as America, Japan, China and India account for most of the remaining market share.
An inspiring example in the pharmaceutical industry is India, in which the pharmaceutical industry accounts for 10% of the global pharmaceutical industry production. The Indian pharmaceutical industry has achieved significant growth, as the value of its pharmaceutical products increased to $ 36 billion in 2017, and is expected to surpass the $ 70 billion mark by 2025. India has done well in the Corona pandemic, as it exports about 60% of the global vaccines, and the Serum Institute of India, which is the largest manufacturer of vaccines, announced that it can offer between 60 and 70 million doses of the vaccine per month, part of which is used as a global plan aimed at To help low- and middle-income countries secure access to vaccines.
Local figures indicate that the volume of investment in the pharmaceutical sector in the Kingdom is the largest in the region, as it exceeds 30% of the Middle East market, while the number of pharmaceutical factories registered in Saudi Arabia exceeds 40 factories, covering only 30% of the Saudi market’s need for medicines.
I am confident that with the “Kingdom’s Vision 2030”, we will see a qualitative change in all areas, and we will surpass those who preceded us, and as it was said, “Set your eyes on the stars, and put your feet on the ground.”
This article is republished from Al Watan
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