TUNISIA – Tunisia is one of the few countries in Africa having a well-established pharmaceutical sector. They have efficient and modern pharmaceuticals and such medications are considered legal in other nations.
This is further attributed to the fact that Tunisia and Morocco both follow international standards of medication. The presence of a generic population in high number is a key factor augmenting the growth of the Tunisia pharmaceutical market during the forecast period.
Players of the global Tunisia pharmaceutical market are indulging in merger and acquisition strategies to gain an upper hand in the overall market competition.
Besides this, manufacturers are also investing in research and development activities for the production of better pharmaceutical products, ultimately making their mark in the overall competition.
The increasing efficiency of manufacturing companies in Tunisia is considered a key factor augmenting the growth of the pharmaceutical market in this region.
Additionally, the rising prevalence of various illnesses in the gastronomy sector will also boost the market in the forecast period.
Also, the rising popularity of product formulations mainly tablets and capsules is also projected to aid in favor of this market in the future.
On the contrary, factors such as the lack of standardization and regulatory policies may restrict the growth of this market in the coming years.
Nevertheless, increasing number pf pharmaceutical export activities from Tunisia to other non-African nations such as Libya, Mauritania, Algeria, and others is likely to create lucrative growth opportunities for this market in the forecast period.
The Tunisia pharmaceutical market size was estimated at USD 1.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.9% from 2021 to 2028.
The market is driven by the presence of various developed and integrated facilities that promote R&D, production of pharmaceuticals in the country.
According to Tunisia’s government, the country’s pharmaceutical industry recorded significant growth in the past two decades. Investments in this industry reached US$ 105 million as of August 2019.
In recent years, Tunisia’s pharmaceutical industry has witnessed significant growth and is likely to continue growing over the coming years. However, the lack of robust regulatory and standardization policies can slow down the market.
Unclear or insufficient pricing procedures, longer timeframes for marketing authorization, and the absence of an agency that can regulate the pharmaceutical industry are some major factors that may restrain Tunisia’s pharmaceutical industry.