The MEA market has reached $25B in value, growing at 8% CAGR; short term growth stood at 10% from 2017 to 2018. Saudi Arabia, the largest market in MEA at $8.2B in value, grew at 7% in value terms. Egypt, Algeria and UAE are other large markets that had double-digit growth.
*LPO=Local Purchase Order, where the product is purchased by an LPO from Government drug stores, especially when the product is needed & is out of stock in the medical stores.
These 10 corporations represent 37% of the MEA market by value. Novo Nordisk’s USD 635M growth is mainly driven by Norditropin (somatropin), Victoza(liraglutide) & Saxenda (liraglutide) which have grown at 60%, 18% and 190% PPG respectively.
Hikma’s USD 497M growth has been the fastest due to Remox (amoxicillin) and Pranza (olanzapine), growing at 108% and 477% PPG respectively.