The global pharmaceutical market is headed for $1.3 trillion by 2020 with a projected global growth rate of around of 5 % CAGR , moreover, the pharma industry is regarded as a major contributor to the world's knowledge economy. Branded drugs with sales of up to $135 billion expired by the end of 2015, offering pharmaceutical companies opportunities to capitalize on this market. Moreover, the patent expiry of drugs worth $150 billion by 2020 will fuel the growth of the global generic drugs market.
The Saudi Pharma market is looked at as one of the fastest growing markets today with strong export potentials to serve MENA and other politically unstable areas in the region. The Saudi Pharma market is reported approximately $6.7 billion in 2016 and expected to grow at a 10% GACR to reach $9 billion by 2020.