Reducing Costs on Healthcare
A new report released by Bupa Arabia for Cooperative Insurance says the implementation of a generic medicine framework in Saudi Arabia could result in an estimated decrease of 35%-40% in medication spending annually.
The generic drug market currently represents 36% of total pharmaceutical sales and is forecast to increase to 41% by 20255. Physicians in the Kingdom support generic substitutions in most cases for patients. Outside of the Kingdom, the generic drug market in the GCC area is worth $3.94 billion in 2020.
Reducing Costs on Healthcare
A new report released by Bupa Arabia for Cooperative Insurance says the implementation of a generic medicine framework in Saudi Arabia could result in an estimated decrease of 35%-40% in medication spending annually.
The generic drug market currently represents 36% of total pharmaceutical sales and is forecast to increase to 41% by 20255. Physicians in the Kingdom support generic substitutions in most cases for patients. Outside of the Kingdom, the generic drug market in the GCC area is worth $3.94 billion in 2020.