Tunisia Pharmaceutical Market: Injectable Formulation Segment Is Another Lucrative Growth Position In Terms Of Revenue
Tunisia Pharmaceutical Industry Overview
The Tunisia pharmaceutical market size is estimated to reach USD 3.4 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.9% from 2021 to 2028. The market is largely driven by the improving pharmaceutical exports of Tunisia, which is a result of expanding pool of local pharmaceutical manufacturers in the country. The country continues to explore and capitalize on export markets, prominently Francophone countries in Africa.
Manufacturers are also engaged in on-site production in sub-Saharan nations. For instance, Tunisia-based Teriak acquired Cameroon’s Cinpharm plant in late 2015 to export in Central African markets. Despite the fact that Tunisian pharma companies have marked their presence in African markets, drug manufacturers are surrounded by several challenges including lack of infrastructure enabling direct air route, maritime connections, or business measures that hinder their growth in African countries.
Some domestic companies have begun production of medications in West Africa to reduce the import cost for countries in the region, which in turn, is providing a significant boost to the pharmaceutical industry in Tunisia. For instance, Medis was recognized as the company which exports to the largest number of countries. The company has collaborated with 11 countries. On the other hand, Teriak ranked second in the private Tunisia market in 2018 export development from 2% in 2012 to 13% in 2018.
The COVID-19 pandemic is expected to create lucrative opportunities for healthcare professionals looking to address prolonged challenges that persist in the pharmaceutical industry. Apart from the pandemic, there is a high prevalence of several chronic diseases, including cardiac, diabetes, obesity, and respiratory ailments, which can affect all age groups. This is expected to open up new avenues for healthcare professionals to develop innovative management strategies that can help in curbing pre-existing pricing challenges in the pharmaceutical industry and tackling them with the pandemic in an effective manner.
Tunisia Pharmaceutical Market Segmentation
Grand View Research has segmented the Tunisia pharmaceutical market on the basis of formulation:
Based on the Formulation Insights, the market is segmented into Tablets, Capsules, Injectables, Sprays, Suspensions, Powders, and Other Formulations.
- The tablet formulation segment dominated the market in 2020 and accounted for the largest revenue share of 24.5%. Tablets are the most common oral solid dosage forms for drug delivery, which is contributing to their high production and sales. This type of formulation is also preferred over capsules owing to various advantages such as tamper resistance, cost-effectiveness, easy handling and packaging, and high manufacturing efficiency. Tablets are the easiest to manufacture for a broad range of specialties such as antidiabetics, anti-inflammatories, antacids, vitamins, and antiallergic.
- The injectable formulation segment is another lucrative segment that has garnered 2ndposition in terms of revenue in the market. Injectables are administered through the parenteral route, which is the second most commonly used route and is the fastest mode for drug delivery. Various companies offer injectables including MédiS Laboratories, which have expertise in the market for rapid development of complex drug formulations, especially injectables.
Key Companies & Market Share Insights
The healthcare industry has garnered a pivotal position in Tunisia’s socioeconomic policies in recent years. This has created a favorable environment for companies keen on entering the Tunisia healthcare market when compared to other states of the southern Mediterranean region. Additionally, Tunisia is among the very few countries of the African region that showcases a modern and efficient pharmaceutical sector, with respect to both safety and quality of medicine products being approved and introduced in the local market.
Pfizer, Inc. was leading the Tunisia pharmaceutical industry in 2020, followed by Sanofi-Aventis Tunisia. Adwya is another prominent pharmaceutical manufacturer operational in Tunisia, with more than 10.0% of output in the local drug produce. This is followed by Les Laboratoires UNIMED, Teriak, MEDIS, SIPHAT, OPALIA PHARMA, Taha Pharma, and Cytopharma. The majority of these companies were established by local professionals after the privatization of the healthcare sector in the 1990s. Some of the prominent players in the Tunisia pharmaceutical market include:
- Adwya
- Sanofi (Sanofi-Aventis Tunisia)
- Teriak
- Opalia pharma
- Les Laboratoires UNIMED
- Medis
- Taha Pharma
- Cytopharma
Order a free sample PDF of the Tunisia Pharmaceutical Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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