This trend is mainly due to the increasing awareness of consumer health and nutrition, and the growing availability of scientific evidence linking diet and health is a major contributor to market growth. This has created a larger demand for vitamins and food supplements in the Middle East, leading to excellent opportunities for North American companies exporting to this region.
The Middle East pharmaceutical market is highly competitive, with strong growth, among which vitamins and food supplements are expected to see the most dynamic growth for four main reasons.
- Rapid population growth
- Increased consumer health awareness
- Expansion of the health insurance sector
- Increases of expenditure on advertising through media, such as radios and local newspapers, and continuous promotional campaigns by global companies targeting consumers. That includes advertising in magazines (medical and public), consumer leaflets, in pharmacy sampling etc.
Pharmacies are almost the main market for vitamins and food in all countries in the Middle East, and they represent the most opportunity for success in the Middle East market for vitamins and food supplements. Their structure has changed significantly in the last few years from individually owned pharmacies to the concept of pharmacy chains; this move has reshaped the competition, creating a new challenge for most companies.
As the Middle East countries move towards breaking down barriers and building a common market, NHP Consulting has experience in helping nutraceutical companies to find a market share in the region.