Halal Pharmaceuticals Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016 to 2021 and Forecast 2022 to 2028

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Halal Pharmaceuticals Market By Dosage Form (Syrups, Capsules, Tablets, Powders, Others), By Drug Class (Analgesics, Pain management drugs, Anti-inflammatory drugs, Respiratory drugs, Cardiovascular drugs, Vaccines, Others), By Distribution Channel (Pharmacies, Online pharmacies, Hospital Pharmacies) and Geography.

 

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Report

Description

Halal Pharmaceuticals Market size was valued at USD 123.03 billion in 2021, growing at a CAGR of 9.4% during the forecast period 2022-2028.:  Halal means permissible to consume and the products are prepared as per to the Shariah Principles used shariah-compliant ingredients and methods. Halal is one of the tenets of Islam morality and refers to lawful. Halal pharmaceuticals are thought to be significantly safer, more effective, and less polluted because they are prepared, packaged, and distributed according to Islamic beliefs and are held to high-quality standards. The improving economic conditions in Islamic countries are providing prospects for market product expansion. Furthermore, rising public knowledge of environmental and health risks has had a huge impact on the pharmaceutical business. Regulations and uniformity in the sector are difficult to achieve because regulatory agencies and pharmaceutical associations all over the world hold differing viewpoints. For example, American pharmaceutical corporations have recently expressed their dissatisfaction with Malaysia’s Ministry of Health’s rules (MOH). These standards were created with the goal of specifying the ingredients that are permitted in medications according to Islamic law. The Pharmaceutical Researchers and Manufacturers of America expressed their concern in their yearly report to the United States Trade Representative (PhRMA). The global halal pharmaceuticals market is segmented by drug type, region, and drug class. The Halal Pharmaceuticals Market can be divided into five categories based on medicine class: allergies, endocrine pharmaceuticals, pain meds, respiratory drugs, and others. The industry is separated into three types: capsules, syrups, and tablets. Capsules and pills, for example, are increasingly using edible polymers and non-halal components. As a result, they are seeing a surge in demand for halal medications.


Global Halal Pharmaceuticals Market

MARKET SUMMARY
-
9.4%
  • Study Period– 2022-2028
  • Base Year– 2021
  • CAGR– 9.4%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– Latin-America

Halal Pharmaceuticals Market

  • Halal Pharmaceuticals Market gives historical, current, and future market sizes (US$ Bn) of product type and distribution channel and geographic regions.
  • This report studies market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
  • In addition, the market report includes regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition.
  • Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities).
  • Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers engaged in manufacturing and supply of Infant nutrition
Market Key Players
  • Pharmaniaga
  • Chemical Company of Malaysia Bhd
  • Rosemont Pharmaceuticals
  • Simpor Pharma Sendirian Berhad
  • Bosch Pharmaceuticals
  • NOOR VITAMINS
Growth

Halal Pharmaceuticals Market

Halal pharmaceuticals are the products which are manufactured, packed and distributed without using pork, dog or alcoholic ingredients which are prohibited by Islam. Increase in safety and quality assurance of the halal products across the world, growing care and consciousness regarding selection of ingredients with which the drugs are prepared majorly drives the market for halal pharmaceuticals. Furthermore, Inclination towards the organic and ecofriendly, healthy drugs and healthcare products, increase in investments on R&D activities, increase in usage of halal pharmaceuticals by Muslim population all over the world propels the market growth for halal pharmaceuticals. However, lack of awareness, low adoption rate, strict regulatory framework are hampering the growth of halal pharmaceuticals market.


Asia-Pacific Got Significant Share

Halal Pharmaceuticals Market

Geographically, Global Halal Pharmaceuticals Market is segmented into North America, Europe, Asia Pacific, Latin America, and theMiddle East and Africa regions. The Middle East and Africa and Asia Pacific are the largest markets for the Halal pharmaceuticals globally owing to the presence of huge Muslim population. The top Halal pharmaceutical markets in terms of consumer spending are Turkey, Saudi Arabia, the United States, Malaysia, Indonesia and Algeria. UAE is the largest market for halal pharmaceuticals owing to the favorable governance and pricing index. European countries and Latin American Countries are also expected to show significant growth rate in halal pharmaceuticals due to the growing Muslim population, increase in awareness in usage of halal pharmaceuticals.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

KEY FEATURES OF THE REPORT

  • The report provides granular level information about the market size, regional market share, historic market (2016 to 2021) and forecast (2022 to 2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Halal Pharmaceuticals Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content


Report

Company Profile

  • Pharmaniaga (Malaysia)
  • Chemical Company of Malaysia Bhd (Malyasia)
  • Rosemont Pharmaceuticals (UK)
  • Simpor Pharma Sendirian Berhad (Brunei Darussalam)
  • Bosch Pharmaceuticals (Pakistan)
  • NOOR VITAMINS (U.S.)

Description

Halal Pharmaceuticals Market size was valued at USD 123.03 billion in 2021, growing at a CAGR of 9.4% during the forecast period 2022-2028.:  Halal means permissible to consume and the products are prepared as per to the Shariah Principles used shariah-compliant ingredients and methods. Halal is one of the tenets of Islam morality and refers to lawful. Halal pharmaceuticals are thought to be significantly safer, more effective, and less polluted because they are prepared, packaged, and distributed according to Islamic beliefs and are held to high-quality standards. The improving economic conditions in Islamic countries are providing prospects for market product expansion. Furthermore, rising public knowledge of environmental and health risks has had a huge impact on the pharmaceutical business. Regulations and uniformity in the sector are difficult to achieve because regulatory agencies and pharmaceutical associations all over the world hold differing viewpoints. For example, American pharmaceutical corporations have recently expressed their dissatisfaction with Malaysia’s Ministry of Health’s rules (MOH). These standards were created with the goal of specifying the ingredients that are permitted in medications according to Islamic law. The Pharmaceutical Researchers and Manufacturers of America expressed their concern in their yearly report to the United States Trade Representative (PhRMA). The global halal pharmaceuticals market is segmented by drug type, region, and drug class. The Halal Pharmaceuticals Market can be divided into five categories based on medicine class: allergies, endocrine pharmaceuticals, pain meds, respiratory drugs, and others. The industry is separated into three types: capsules, syrups, and tablets. Capsules and pills, for example, are increasingly using edible polymers and non-halal components. As a result, they are seeing a surge in demand for halal medications.

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