United Arab Emirates – Market Research
United Arab Emirates
Market overview: The demand for halal medicines has been on the rise in the UAE due to the country’s increasing awareness of the importance of halal certification. In addition, the government has launched initiatives to promote the halal industry in the country by launching the “Dubai: Capital of Islamic Economy” initiative which aims to make Dubai a global hub for the Islamic economy, including halal pharmaceuticals. The country also established the Dubai Islamic Economy Development Centre (DIEDC) to support the development of the halal industry in the UAE.
Regulations: Currently UAE only mandates halal certificates and logos for food products claiming to be halal, but the country is introducing new laws that will be of importance when regulations on halal pharmaceuticals are set.
Market Size: UAE has a population of 9.5 million of which 76 % are Muslim.
Market Potential: According to a report by Mordor Intelligence, the UAE Halal Pharmaceuticals market was valued at USD 229.15 million in 2020 and is expected to reach USD 380.12 million by 2026, growing at a CAGR of 8.68% during the forecast period (2021-2026). The growth in the market can be attributed to various factors, such as the increasing demand for halal pharmaceuticals, the rise in Muslim population, and the growing awareness about the benefits of halal products. It is important to note that UAE’s imports of pharmaceuticals hit $3.5 Bn in 2021.
Market Activity: Overall, the UAE Halal Pharmaceuticals market is an active and growing sector, with the country becoming a home to several halal pharmaceutical companies, such as Julphar Gulf Pharmaceutical Industries, Tabuk Pharmaceuticals, and Neopharma. These companies offer a range of halal-certified products, including antibiotics, vitamins, and painkillers, among others. In addition, several international pharmaceutical companies have also entered the UAE Halal Pharmaceuticals market by introducing halal-certified products.
Important Activities in the UAE’s Halal Pharmaceutical Market:
BRICS expansion: What’s in store for the global halal industry?
The expansion is poised to have significant economic and geopolitical implications, particularly in the halal industry and global trade dynamics.
Medytox to Build BTX Plant in UAE
Medytox said it will become the first Korean company to build a halal certified botulinum toxin finished product factory overseas.
UAE’s Prime Healthcare Wants to Make a Breakthrough into Halal Pharmaceuticals
Prime signs up with Malaysia’s Pharmaniaga to sell halal-labelled medicines in UAE.
UAE Scientists Launch Animal Study in Quest to Help Treat Covid in Humans
amples from 18 species including lions, tigers, gazelles and cats could help doctors treat infected patients.
G42 Announces New Joint Venture with Sinopharm CNBG to Produce Hayat-Vax Vaccine in the UAE
Hayat-Vax will be the first COVID-19 vaccine to be produced in the Arab world.
UAE Researchers Seek to Extract Halal Gelatin from Camels
Researchers at UAE University are looking into extracting gelatin from camel skin as a halal alternative to traditional gelatin.
