Employee Reporter
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middle East
Photos from Envato
The country is limited by market size.
According to BMI, Oman's pharmaceutical sector is expected to grow from $76 million in 2024 to $90 million in 2029, with a CAGR of 3.6%.
The report shows that despite the country's comprehensive public health insurance coverage, the average expansion is attributed to its market size limitations.
Public medicine spending accounts for 10% of total public health care spending as of 2023. This marks its peak decline in 2021, consistent with pre-pandemic levels.
In addition, the industry has limited R&D expertise and manufacturing capabilities.
“The market will therefore continue to rely heavily on imported drugs in the near medium term,” the report said.
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