Tunisia Pharmaceutical Market Poised to Garner Maximum Revenues During 2021 – 2028: Grand View Research Inc.

 Tunisia Pharmaceutical Market Growth & Trends

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. 

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Tunisia Pharmaceutical Market Report Highlights

• An increase in the cases of diabetes, cardiovascular disorders, obesity, and respiratory diseases is expected to expand the pool of local drug manufacturers, thereby propelling the market growth
• The tablets formulation segment accounted for the largest revenue share in 2020, attributed to the ease of manufacturing associated with these drug formulations
• The capsules formulation segment is anticipated to gain significant traction in the coming years in Tunisia, registering the highest CAGR through 2021 - 2028
• The growing popularity of soft gelatin capsules in the pharmaceutical industry is contributing to segment growth
• The Blow-Fill-Seal (BFS) technology in injectables is being increasingly used for pharmaceutical formulation and supplementing industry momentum
• The companies are improving local manufacturing capacities in order to sustain the market competition

Access Press Release@ https://www.grandviewresearch.com/press-release/tunisia-pharmaceutical-market-analysis

Tunisia Pharmaceutical Market Segmentation

Grand View Research has segmented the Tunisia pharmaceutical market on the basis of formulation:

Tunisia Pharmaceutical Formulation Outlook (Revenue, USD Million, 2017 - 2028)

• Tablets
• Capsules
• Injectables
  • BFS-mode
  • Non-BFS-mode
• Sprays
  • BFS-mode
  • Non-BFS-mode
• Suspensions
  • BFS-mode
  • Non-BFS-mode
• Powders
• Other Formulations
  • BFS-mode
  • Non-BFS-mode

List of Key Players of Tunisia Pharmaceutical Market

• Adwya
• Sanofi (Sanofi-Aventis Tunisia)
• Teriak
• Opalia pharma
• Les Laboratoires UNIMED
• Medis
• Taha Pharma
• Cytopharma

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.