Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "KSA Retail Pharmacy Market Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The KSA retail pharmacy market was valued at 7.19 billion USD in 2023, driven by growing population expanding the customer base, rising chronic diseases leading to increased demand for health & wellness products, introduction of e-prescription platforms resulting in higher volume of prescriptions per pharmacy, and increasing consumer expenditure on healthcare.
The retail pharmacy market in KSA is dominated by key players such as Nahdi Medical Company, Al-Dawaa Medical Services Co., United Pharmacies, Planet Pharmacy (Acquired by Gulf Pharmaceuticals Industries (Julphar)), and GHC Group (Kunooz Pharmacy and Whites). These players have established a strong presence through extensive networks, customer loyalty programs, and a diverse product range that includes both over-the-counter and prescription medicines.
In 2022, Nahdi Medical Company launched IMDAD, a state-of-the-art Smart Logistics & Distribution Center, strategically located to serve the entire Kingdom of Saudi Arabia. Spanning an impressive 250,000 square meters, IMDAD is designed to enhance Nahdi's supply chain efficiency and capabilities significantly.
Riyadh, Jeddah, and Dammam are the dominant cities in the KSA retail pharmacy market, accounting for a significant portion of the market share. Riyadh, the capital city, leads due to its large population and the presence of numerous healthcare facilities, which drive demand for pharmaceutical products.
KSA Retail Pharmacy Market Segmentation
By Product Category: The KSA retail pharmacy market is segmented by product category into prescribed drugs, OTC (Over-the-Counter) drugs, beauty care, cosmetics, baby products, wellness products, and medical equipment & materials. In 2023, the wellness products segment dominated the market due to a growing consumer focus on health and preventive care. The increasing awareness of fitness and well-being, coupled with the rising demand for supplements, vitamins, and health-related products, has driven the expansion of this segment.
By Type of Pharmacy: The KSA retail pharmacy market is segmented by the type of pharmacy into pharmacy chains, standalone pharmacies, and hospital-attached pharmacies. In 2023, pharmacy chains held the largest market share, driven by their extensive networks and standardized service offerings across multiple locations. Pharmacy chains like Nahdi and Al-Dawaa have established a strong market presence by providing a consistent customer experience, and offering a wide range of products.
By Region: The KSA retail pharmacy market is segmented by region into Riyadh, Jeddah, Eastern Region (including Dammam, Al-Ahsa, Hafr-Al Baten, etc.), Makkah, Aseer, Madinah, Jazan, Qaseem, and the rest of KSA (including Taif, Tabouk, Ha`il, Najran, Al-Jouf, Al-Baha, Bishah, Qunfudah, Qurayyat, etc.). Riyadh dominated the market in 2023 due to its status as the capital and largest city in the Kingdom, with a dense population and a high concentration of healthcare facilities.
KSA Retail Pharmacy Market Competitive Landscape
Al-Dawaa Medical Services Co.: In 2021, Al-Dawaa Medical Services Co. significantly expanded its retail footprint by opening 50 new pharmacies across various regions of Saudi Arabia. This strategic move was part of Nahdi's broader growth plan to increase its accessibility and service coverage, particularly in underserved areas where the need for quality healthcare services is rapidly growing.
Planet Pharmacy: In 2021, Gulf Pharmaceuticals Industries, commonly known as Julphar, made a strategic move to strengthen its footprint in the retail pharmacy sector by acquiring a significant stake in Planet Pharmacies. This acquisition was a key component of Julphar's broader strategy to deepen its presence and expand its operations across the Kingdom of Saudi Arabia.
Key Topics Covered:
1. KSA Retail Pharmacy Market Overview
1.1 Definition and Scope
1.2 Market Taxonomy
1.3 Market Valuation and Historical Performance
1.4 Key Market Trends and Developments
1.5 Market Segmentation Overview
2. KSA Retail Pharmacy Market Size (in USD Bn), 2018-2023
2.1 Historical Market Size
2.2 Year-on-Year Growth Analysis
2.3 Key Market Developments and Milestones
3. KSA Retail Pharmacy Market Analysis
3.1 Growth Drivers
3.1.1 Expanding Population Enhancing Customer Base
3.1.2 Rising Chronic Diseases Boosting Demand for Health & Wellness Products
3.1.3 Increasing Consumer Spending on Healthcare
3.2 Challenges
3.2.1 Regulatory Compliance Pressuring Pharmacy Profit Margins
3.2.2 Intense Competition Leading to Market Saturation
3.3 Opportunities
3.3.1 Expansion of E-Commerce in Pharmacy Sales
3.3.2 Growth of Wellness and Preventive Care Products
3.3.3 Increasing Integration of Digital Health Platforms
3.4 Trends
3.4.1 Transition to Integrated Stores From Smaller Stores
3.4.2 Emphasis on Generic Drugs
3.5 Government Initiatives
3.5.1 Vision 2030 Healthcare Reforms
3.5.2 Regulation of Pharmaceutical Prices and Promotion of Generic Drugs
3.6 SWOT Analysis
3.7 Stakeholder Ecosystem
3.8 Competition Ecosystem
4. KSA Retail Pharmacy Market Segmentation, 2023
4.1 by Product Category (in Value %)
4.1.1 Prescribed Drugs
4.1.2 OTC Drugs
4.1.3 Beauty Care
4.1.4 Cosmetics
4.1.5 Baby Products
4.1.6 Wellness Products
4.1.7 Medical Equipment & Materials
4.2 by Type of Pharmacy (in Value %)
4.2.1 Pharmacy Chain
4.2.2 Standalone Pharmacies
4.2.3 Hospital Attached Pharmacies
4.3 by Region (in Value %)
4.3.1 Riyadh
4.3.2 Jeddah
4.3.3 Eastern Region (Including Dammam, Al-Ahsa, Hafr-Al Baten, Etc.)
4.3.4 Makkah
4.3.5 Aseer
4.3.6 Madinah
4.3.7 Jazan
4.3.8 Qaseem
4.3.9 Rest of KSA (Taif, Tabouk, Ha`Il, Najran, Al-Jouf, Al-Baha, Bishah, Qunfudah, Qurayyat, Etc.)
5. KSA Retail Pharmacy Market Competitive Landscape
5.1 Detailed Profiles of Major Companies
5.1.1 Nahdi Medical Company
5.1.2 Al-Dawaa Medical Services Co.
5.1.3 United Pharmaceuticals Company
5.1.4 Planet Pharmacy (Acquired by Gulf Pharmaceuticals Industries (Julphar))
5.1.5 GHC Group (Kunooz Pharmacy and Whites)
5.2 Cross Comparison Parameters (No. of Employees, Headquarters, Inception Year, Number of Pharmacies)
6. KSA Retail Pharmacy Market Competitive Landscape Analysis
6.1 Market Share Analysis
6.2 Strategic Initiatives
6.3 Mergers and Acquisitions
6.4 Investment Analysis
6.4.1 Venture Capital Funding
6.4.2 Government Grants
6.4.3 Private Equity Investments
7. KSA Retail Pharmacy Market Regulatory Framework
7.1 Vision 2030 Healthcare Reforms
7.2 Regulation of Pharmaceutical Prices and Promotion of Generic Drugs
7.3 Compliance Requirements and Certification Processes
8. KSA Retail Pharmacy Market Future Outlook (in USD Bn), 2023-2028
8.1 Future Market Size Projections
8.2 Key Factors Driving Future Market Growth
8.3 Future Market Segmentation
8.3.1 by Product Category (in Value %)
8.3.2 by Type of Pharmacy (in Value %)
8.3.3 by Region (in Value %)
9. KSA Retail Pharmacy Market Analysts' Recommendations
9.1 TAM/SAM/SOM Analysis
9.2 Customer Cohort Analysis
9.3 Marketing Initiatives
9.4 White Space Opportunity Analysis
A selection of companies mentioned in this report includes, but is not limited to:
- Nahdi Medical Company
- Al-Dawaa Medical Services Co.
- United Pharmaceuticals Company
- Planet Pharmacy (Acquired by Gulf Pharmaceuticals Industries (Julphar))
- GHC Group (Kunooz Pharmacy and Whites)
- Innova Pharmacies
- Al Mujtama
- Seha Pharmacies
- Tadawi Pharmacy
- Al Nahdi Al Arabia
- Dawaee Pharmacies
- Al Mutlaq Pharmacy
- Madinah Pharmacies
- Tamkeen Pharmacies
- Al Manar Pharmacy
For more information about this report visit https://www.researchandmarkets.com/r/sw6f1
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