Saudi Arabia Biotechnology Market Size & Outlook
Saudi Arabia biotechnology market, 2018-2030 (US$M)
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Saudi Arabia biotechnology market highlights
- The Saudi Arabia biotechnology market generated a revenue of USD 4,827.3 million in 2023 and is expected to reach USD 12,212.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 14.2% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application segment registering the fastest growth during the forecast period.
Biotechnology market data book summary
| Market revenue in 2023 | USD 4,827.3 million |
| Market revenue in 2030 | USD 12,212.2 million |
| Growth rate | 14.2% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.3% of the global biotechnology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa biotechnology market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 12,212.2 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia biotechnology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 46.06% in 2023. Horizon Databook has segmented the Saudi Arabia biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia biotechnology market is still in nascent stage. However, various initiatives are being taken to accelerate the country's market growth. For instance, in April 2020, KAUST and Industrial Clusters signed a Memorandum of Understanding for the National Bio Park project. This initiative is intended as R&D and innovation hub for biotechnology industry in Saudi Arabia.
Similarly, Badir Biotechnology Incubator is operational in the country since 2010. This supports setting up and development of several start-ups in the biotechnology sector. In addition, it helps Saudi research community for establishment and development of strategic projects in various biotechnology fields.
Saudi Bio is one of the major companies operating in Saudi Arabia. The company is the only biotech manufacturing facility in the country with multipurpose sterile fill and finish facility. Presence of such companies is anticipated to positively impact the market growth.
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Our clientele includes a mix of biotechnology market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia biotechnology market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia biotechnology market size, by application, 2018-2030 (US$M)
Saudi Arabia Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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