WHAT THE DRUG BUSINESS IN SAUDI ARABIA IS LIKE NOW AND WHERE IT WANTS TO GO: NANOMEDICAL TREATMENTS
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Keywords
Pharmaceutical industries, Manufacturing, Nanomedicine, Saudi Arabia, Nanotechnology, Generic, Healthcare
Abstract
Background Nanomedicine products for drugs are expected to have a big impact on the world's drug market and health care system. Since 2000, the Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have given the go-ahead for more than 80 nanomedicine items to hit the market. There are now twice as many being tried in clinical trials. Nanomedicines will have a market worth USD 350.8 billion by 2025, up from USD 138.8 billion in 2016. Nanotechnology is very important for getting drugs to people who need them. Nanotechnology is a good way to get healing agents to more people because it lessens the bad effects of random distribution and makes patients more loyal, which can help the country's healthcare system in a roundabout way. The pharmaceutical drugs market in Saudi Arabia should change a lot once these kinds of things are made there. Two types of studies were used to find out where nanotechnology-based medicine production is going now and where it will go in the future in the Kingdom. A web-based questionnaire and a full classification of all the pharmaceutical products made by Saudi Arabia's state industries were part of this study. The End Result A poll of the country's drug companies showed that they don't want to use nanotechnology to make meds. Eighty-six percent of the top Saudi companies said they couldn't make drugs with nanotechnology. From the answers, though, more than 93% of the national pharmaceutical companies agreed that using nanotechnology to make new medicines is an important step towards fixing many problems with the medicines we have now. That being said To make progress towards making nanomedicines, the Saudi Arabian pharmaceutical business will need to work with leaders in the field from other countries. Also, letting local research and development (R&D) centres have more say over nano delivery methods might help them make it easier to sell new, high-tech products that come from their R&D. This could behave like the world's drug market and split the money made, which would be good for the Kingdom's income.
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References
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