Qatar’s competitive edge in the global pharmaceutical industry – The Peninsula

Qatar’s competitive edge in the global pharmaceutical industry – The Peninsula

Doha, Qatar: The pharmaceutical industry is poised for remarkable growth in the coming years, driven by an expanding middle class and ageing global population. With the pharma market set to increase by 165.2% between 2020 and 2030, the sector presents lucrative opportunities for investors and stakeholders worldwide. The post-pandemic era has further propelled the industry, leading to a record number of biopharmaceutical deals and significant investments in healthcare systems. This trend has also garnered attention in the Middle East, particularly in the GCC, where a new pharma industry frontier is emerging.

Globally, the pharma market is on an upward trajectory, according to a recent sectoral study by the Investment Promotion Agency Qatar (IPA Qatar). Biopharma deals soared to new heights in 2020, with a remarkable increase of 107% compared to 2018. R&D spending equally saw substantial growth, reaching $189bn in 2020.