Saudi Arabia Cardiovascular Diseases Therapeutics Market Report 2022 to 2030

Saudi Arabia Cardiovascular Diseases Therapeutics Market Analysis

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The Saudi Arabia cardiovascular disease therapeutics market is projected to grow from $2.76 Bn in 2022 to $5.39 Bn in 2030 with a CAGR of 8.72% for the year 2022-2030. Increased healthcare spending and government initiatives like Vision 2030 in Saudi Arabia are the major market drivers for the growth of the market. The Saudi Arabia cardiovascular disease therapeutics market is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by the end user. Saudi Centre Group, Riyadh Pharma, and Gilead Sciences are the major players in the Saudi Arabia cardiovascular disease therapeutics market.

ID: IN10SAPH033 CATEGORY: Pharmaceuticals GEOGRAPHY: Saudi Arabia AUTHOR: Dr. Parul Choudhary

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Saudi Arabia Cardiovascular Disease Therapeutics Market Executive Analysis

The Saudi Arabia cardiovascular disease therapeutics market is at around $2.76 Bn in 2022 and is projected to reach $5.39 Bn in 2030, exhibiting a CAGR of 8.72% during the forecast period. A $296 Bn budget for 2023 has been revealed by Saudi Arabia, with projections for $301 Bn in revenue and a $4.26 Bn surplus, or 0.4% of GDP. Health and social growth are to receive $50.4 Bn. Due to its large population, high public healthcare expenditure to GDP ratio, promotion of new investments, and adoption of new business-friendly laws, Saudi Arabia's healthcare industry has a significant potential to change the Gulf Cooperation Council (GCC) region.

The World Health Organization (WHO) and Ministry of Health (MOH) Statistical Yearbook estimate that in 2010, 42 % of non-communicable disease fatalities in Saudi Arabia were attributable to cardiovascular diseases (CVD). In Saudi Arabia, CVD is a growing factor in both national morbidity and death. Services for CVD risk reduction are scarce, especially given the overburdened public health system and the understaffed and underfunded basic care system.

The use of drugs like beta-blockers, ACE inhibitors, aspirin, and high-intensity statins to extend the life and lower the chance of cardiovascular complications like myocardial infarction, stroke, and heart failure. Findings that treatment with statins greatly lowers the occurrence of deaths and disabilities in patients with known clinical manifestations of CVD are abundant in the clinical and preclinical literature. Because of this, statins are frequently prescribed and are the most potent hypolipidemic medications accessible to clinicians for lowering cardiovascular risks and preventing the progression of disease or disability in people with established CVD.

Patients who have Coronary heart Disease (CHD) or other clinical indications of atherosclerosis or diabetes are at significant risk for developing future cardiovascular events and dying before their time. The use of hypolipidemic therapy has significantly outweighed the risk involved with disease treatment and is regarded as the therapy of choice in the prevention of CVD.

Saudi Arabia Cardiovascular Disease Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

Cardiovascular diseases are very common in Saudi Arabia, and risk factors like obesity, diabetes, and hypertension are on the rise. This is increasing the need for medicines for managing and treating cardiovascular diseases. Spending on healthcare in Saudi Arabia has increased recently, with an emphasis on increasing access to treatment and raising the standard of care. The Saudi Arabia cardiovascular disease therapeutics market will probably benefit from this. The government of Saudi Arabia has put into place a number of measures to address the high prevalence of cardiovascular diseases in the nation. This includes the initiatives Vision 2030 and the National Transformation Program 2020, both of which seek to enhance healthcare results and increase access to healthcare services.

Market Restraints

For businesses creating novel therapeutics for cardiovascular disease, the Saudi regulatory scenario can be challenging. Stringent criteria for clinical trials and approvals can result in delays and increased expenses for drug development. Treatments for cardiovascular disease can be costly, which may restrict availability for individuals with lower incomes. This may hinder the Saudi Arabia cardiovascular disease therapeutics market expansion, especially in light of the rising expense of healthcare.

Competitive Landscape

Key Players

Tabuk Pharmaceuticals (SAU)
Jamjoom Pharma (SAU)
Tamer Pharmaceuticals (SAU)
Saudi Centre Group (SAU)
Riyadh Pharma (SAU)
Gilead Sciences
Par Pharmaceutical
United Therapeutics
Nippon Shinyaku
Lupin
Silvergate Pharmaceuticals
TSH Biopharm

Healthcare Policies and Regulatory Landscape

In Saudi Arabia, the Ministry of Health funds and oversees the public healthcare system, which mainly provides healthcare services. (MOH). There is also private healthcare available in the nation, but it is typically more costly and less readily available to the general public. To determine the health of their heart and blood arteries, patients can undergo diagnostic tests like electrocardiograms (ECGs), echocardiograms, stress tests, and angiograms. For patients with more severe cardiovascular diseases, the state healthcare system also pays for procedures like percutaneous coronary intervention (PCI), coronary artery bypass grafting (CABG), and cardiac pacemaker implantation. Government-set reimbursement rates for these services and medicines are open to adjustment considering elements like service cost, inflation, and advancements in medical technology.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiovascular Disease Therapeutics Segmentation

By Disease Indication (Revenue, USD Billion):

Hypertension
Coronary Artery Disease
Hyperlipidaemia
Arrhythmia
Others

By Drug Type (Revenue, USD Billion):

Antihypertensive
Anticoagulants
Antihyperlipidemic
Antiplatelet Drugs
Others

By Route of Administration (Revenue, USD Billion):

Oral
Parenteral
Others

By Drug Classification (Revenue, USD Billion):

Branded Drugs
Generic Drugs

By Mode of Purchase (Revenue, USD Billion):

Prescription-Based Drugs
Over-The-Counter Drugs

By End Users (Revenue, USD Billion):

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.