Growing Opportunity with Saudi Arabia Diabetes MarketAmong all the developed countries of Middle East, the country that is showing maximum trends and opportunities with respect to diabetes market is Saudi Arabia. With the urbanization and industrial development in the country, the population of Saudi Arabia has shown tremendous economic shift which has resulted in the influx of several kinds of diseases that were not observed in the country few years back. The momentum that the population of Saudi Arabia is showing towards the diabetes diagnosis is making the country largest contributor of the overall diabetes market in the Middle East.
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The diabetes market of Saudi Arabia is largely dominated by the branded drugs for diabetes and the most prominent reason for the large consumption of branded drugs rather than the generic drugs in the country is due to the socio-economic condition of the people. The local population of Saudi Arabia has widely accepted the presence of branded drugs in the country, which is apparently leading to accelerating growth of the branded diabetes market. In addition to the presence of branded drugs for the diabetes, the market is also observing an increase in the number of local companies and distributors that are engaged in distributing the diabetes drugs in the country.
The gradual increase in the market is also promoted by the unhealthy lifestyle that is getting adapted by the people of Saudi Arabia. The market of Saudi Arabia is not pre-dominantly known for the high economic status of the people but the country is also holding uptight research and clinical sectors which are looking forward to develop their local diabetes drugs for the local population at cheaper price. Currently, there are 29 clinical studies that are active in the country. The trials are getting conducted with the involvement of several different key players of the international market, which is representing the interest of the other players in the market as it is showing the similar trends as of the US diabetes market which is full of opportunities and advancement.
As per the report findings, it is estimated that soon the market will flourish in all the parameters that are important for a market to dominate the entire diabetes market. Strong brand loyalty and increasing lifestyle diseases are some of the factors that are expected to drive the diabetes drug market in the upcoming timeframe. Furthermore, the country is experiencing growing healthcare infrastructure, increasing per capita income and a large influx of health insurance companies which are estimated to fuel the growing diabetes market. Such huge penetration of the parameters responsible for market growth is estimated to develop a strong and competitive landscape for the future diabetes market.
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