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 In a significant move aimed at strengthening cross-border industrial collaboration, India’s pharmaceutical companies have been invited to explore lucrative partnerships with Saudi Arabia, as the Kingdom rapidly expands its pharmaceutical and specialty chemicals sectors.
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has urged its member companies to actively participate in a virtual information session organized by the Ministry of Investment, Saudi Arabia (MISA) in coordination with the Embassy of India in Riyadh. Scheduled for June 23, 2025, the online event will focus on unlocking new business and investment opportunities between the two countries.
The webinar will serve as a high-level knowledge-sharing platform and will feature key presentations from Saudi government authorities and industry specialists. Following the official addresses, an interactive Q&A session will allow Indian pharmaceutical stakeholders to directly engage with Saudi experts and raise sector-specific queries.
The session aims to highlight various investment programs launched by Saudi Arabia, which prioritizes major reforms and incentives to boost manufacturing and foreign direct investment (FDI), especially in healthcare and life sciences.
Saudi Arabia commands the largest pharmaceutical market in the Middle East and North Africa (MENA) region, valued at USD 8.6 billion in 2023. According to market projections, this value is expected to grow to USD 15.21 billion by 2027, registering a compound annual growth rate (CAGR) of 5.2%. By 2033, the market is anticipated to hit USD 11.7 billion, reflecting strong long-term growth potential.
With more than 30% share of the MENA pharmaceutical market, Saudi Arabia also leads the Gulf region in healthcare investment. Growth is fuelled by a rising population, increasing incidence of chronic illnesses, and the government’s proactive investments in health infrastructure including mega-projects like King Abdullah Medical City.
Currently, the market is dominated by foreign pharmaceutical players due to the population’s strong preference for branded medications. However, the Kingdom’s domestic pharmaceutical manufacturing remains underdeveloped, creating significant opportunities for Indian companies with established capabilities in both branded generics and biosimilars.
Saudi Arabia has launched several initiatives to stimulate domestic pharmaceutical production, aiming to reduce its reliance on imports and enhance national drug security, especially for critical medications like insulin. As part of these efforts, the government is actively promoting local manufacturing partnerships and technology transfers.
The market is also seeing an increasing number of collaborations between Saudi firms and international pharma companies, a model that Indian firms are well-positioned to adopt. In particular, Indian expertise in cost-effective manufacturing and specialty formulations can complement Saudi Arabia’s push for industrial diversification and local capacity building.
India, often dubbed the “pharmacy of the world,” has built a reputation for producing high-quality, affordable drugs and exporting to over 200 countries. Now, with Saudi Arabia opening its market to deeper foreign collaboration, Indian companies stand to gain both strategically and commercially.
With India already making significant strides in specialty chemical exports, enhanced engagement with Saudi Arabia could diversify market access and reduce geopolitical risks.
Saudi Arabia aims to raise the local content in its pharmaceutical sector and is seeking capable partners for contract manufacturing, R&D collaborations, and biosimilar development. The Indian Embassy in Riyadh has also extended full support to firms looking to establish a foothold in Saudi Arabia, signalling strong diplomatic backing for commercial endeavours.
The virtual session will offer insights into government-led investment programs and healthcare reforms, sector-specific opportunities in pharma and specialty chemicals, a Q&A session to address investor queries and collaboration models, information on procedures for market entry and regulatory compliance.
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