Oman Pharmaceuticals Market size is projected to grow at a CAGR of 6.9% during 2024–2032

Oral Segment by Mode Of Administration held the highest revenue share in Oman Pharmaceuticals Market -6Wresearch

In 2023, The oral mode of administration experienced growth in 2023 due to its convenience, alignment with chronic disease management, and technological advancements in formulations. Future growth will be driven by the rising burden of chronic diseases, innovations in drug delivery technologies, and increased adoption of self-medication practices, ensuring oral medications remain a cornerstone of the pharmaceutical market in Oman.

According to 6Wresearch, Oman Pharmaceuticals Market size is projected to grow at a CAGR of 6.9% during 2024–2032. Oman pharmaceutical market has witnessed consistent growth in recent years, underpinned by increasing healthcare demand, strategic government investments, and regulatory reforms aimed at improving accessibility and elevating the quality of care. In 2023, healthcare expenditures in Oman exceeded USD 2.5 billion, marking a substantial 24.6% year-over-year increase. This growth trajectory has been fueled by the government's focused investments in healthcare infrastructure, including a $142 million allocation in 2023 for four pivotal projects. Key initiatives, such as the construction of new hospitals in Salalah, Mirbat, and Thumrait, alongside the expansion of Taqah Hospital, underscore the nation's commitment to fortifying its healthcare ecosystem and driving pharmaceutical market expansion.

In the upcoming years, the Oman pharmaceutical market is poised for accelerated growth as the country prioritizes reducing import dependency and fostering domestic manufacturing capabilities. Noteworthy initiatives, including the Sultan Qaboos Medical City, International Medical City, and a $415 million investment in the expansion of nine hospitals in Dhofar, are set to significantly enhance healthcare delivery across the Sultanate. By 2050, the number of hospital beds is projected to exceed 14,500, catalyzing demand for essential medicines, advanced therapies, and biosimilars. Additionally, the rising prevalence of chronic conditions such as diabetes and high cholesterol, coupled with an anticipated 86% increase in the elderly population over the next 25 years, will further drive pharmaceutical demand.

According to Suryakant, Senior Research Analyst, 6Wresearch, the growth of branded drugs in Oman's pharmaceutical market is driven by consumer perceptions, physician prescribing habits, and strategic marketing efforts. Future growth is expected to be sustained through the introduction of new branded medications, government healthcare initiatives, and increased healthcare spending.

Oman Pharmaceuticals Market (2024-2032) report provides an in-depth analysis with 24 figures and 8 tables, covered in 76 pages. The report thoroughly covers market by prescription type, drug type, drug class, indication, mode of administration, and distribution channel. Oman Pharmaceuticals Market outlook report provides an unbiased and detailed analysis of the on-going Oman Pharmaceuticals Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.