A biologic drug (biologics) is a product that is produced from living organisms or contains components of living organisms. New technologies for manufacturing of biologics, which hold potential for the MENA biologics & biosimilars market growth.
Biologics are widely used to prevent, treat, diagnose or cure a variety of diseases such as cancer, chronic kidney disease, autoimmune disorders, and infectious diseases.
Furthermore, Rapid reforms in the healthcare sector MENA region by government and multinational companies is expected to propel growth of the MENA biologics & biosimilars market. For Instance, In March 2020, The Ministry of Health (MOH) of Saudi Arabia signed a memorandum of understanding with Sanofi Saudi Arabia, to start localizing and transferring insulin industry technology locally in the Kingdom of Saudi Arabia and the possibility of external export to the GCC countries and the Middle East region
Market Dynamics
The MENA biologics & biosimilars market is expected to witness significant growth during the forecast period, owing to the increasing prevalence of hemophilia. According to the World Federation Hemophilia Global Survey, there was approximately 5,050 people with hemophilia (PWH) in Egypt in 2013.
According to the Annual Global Survey, around 418 people were suffering from hemophilia in Saudi Arabia in 2016.
Moreover, increasing number of novel technology launches is expected to drive growth of the market.
For instance, In July 2018, Xbrane Biopharma AB (Xbrane) and STADA Arzneimittel AG (STADA) entered into a collaborative agreement for the development of Lucentis (ranibizumab) biosimilar for the treatment of several eye diseases mainly neovascular age-related macular degeneration, diabetic-related macular edema, and retinal vein occlusion, covering Europe, the U..S and some MENA and APAC markets.
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