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The global halal pharmaceutical market was valued at USD 93.96 billion in 2018, and is expected to grow at a CAGR of 9.4% during the forecast period. Prevalence of strong fertility rates in North Africa, Middle East, ASEAN, and European countries is expected to provide a wide consumer base for driving the halal pharmaceutical market consumption. At present, the global average fertility rate is around 2.6 kids per woman in Muslims, which is higher than the minimum rate of 2.1 that indicates stable population growth. Migration patterns of the Muslim population is expected to help the halal pharmaceutical market players to target and penetrate in low concentrated geographies or non-Islamic countries. Developed economies in Europe and North America are considered to be important locations for Muslim immigrants over the next decade.
The global market is classified on the basis of drug class, product type, source material, and region. On the basis of drug class, the market segments include respiratory, cardiovascular, endocrine, pain medications, allergies, and others. The product type is segments include tablets, syrups, capsules, and others. Based on the source material, the market is classified into plant based, animal based, synthetic and semi-synthetic, and recombinant DNA. North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa are the key regional segments of the global halal pharmaceutical market.
Recent industry activities and trends
In terms of geography, Asia Pacific is likely to remain the largest region comprising high Muslim populace followed by Middle East, Africa, Europe and lastly Americas. Fastest growth is expected to be illustrated in Sub-Saharan Africa, North Africa, and the Middle East regions. This, in turn, is anticipated to result in a wide expanse of the global halal pharmaceutical market penetration in the future.
Key Segments of the Global Halal pharmaceuticals Market
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the halal pharmaceuticals market. The report will benefit:
The Islamic financial assets are anticipated to exceed USD 3.8 trillion in the next few years. According to the State of the Global Islamic Economy Report 2018-19 published by Dubai Islamic Economy Development Centre (DIEDC) in 2018, the global spending of Muslim consumers on food & beverage and wellness and lifestyle products surpassed USD 2.0 trillion in 2017 and is likely to reach a value of USD 3.0 trillion by the end of 2023.
Halal pharmaceuticals are medicinal products that are made of ingredients approved by Sharia or Islamic religious laws. These products are specifically manufactured by using machinery and equipment that are not contaminated by prohibited / non halal materials based on the Islamic law. Halal pharmaceuticals are not only harmonized with the Islamic law and Goods Manufacturing Practice (GMP). For ensuring the production process of pharmaceuticals to be Halal compliant, the manufacturing firm must fulfill the quality requirements and prevent cross contamination of halal approved ingredients, vessels, and equipment.
Development of new products is a very important factor for opening new avenues in the global halal pharmaceutical market. Over the last few years, the halal pharmaceutical market has witnessed significant developments pertaining to research & innovation. Key industry players such as AJ Pharma and Pharmaniaga have been focusing on the development of Halal compliant vaccines. In addition to this, the production of these vaccines will be initiated in a new manufacturing setup the construction of which is expected to be completed by the end of 2019. Such a scenario is considered to be a leverage for global level investors who are aiming to optimize their business growth in the halal pharmaceutical sector.
Plant based vaccines and halal nutraceuticals are considered to offer lucrative opportunities that are likely to boost the halal pharmaceutical market over the years ahead. AJ Pharma Company’s headquarters are based in the Middle East and have manufacturing facility in Malaysia. The presence of this player in prominent Islamic populated countries has provided the company with a real time access towards the market dynamics in the halal pharmaceutical markets. For instance, the company is constantly engaged in the development of plant based vaccines, which are intended to target the Muslim audience who otherwise are reluctant to use non-halal products.
Formation of international halal accreditations is expected to be one of the key growth opportunities of the global halal pharmaceutical market. For instance, The Department of Islamic Development Malaysia (JAKIM) provided a first Halal accreditation to Chemical Company of Malaysia (CCM) for prescription medicine. Other Islamic countries such as Indonesia and the UAE have also announced plans of mandating the halal products.
The global halal pharmaceutical market has been segmented based on drug class, product type, source material and region.
Pharmaceutical drugs are derived from a multitude of sources, including crops, minerals and livestock. Micro-organisms are also sources from some drugs, such as certain antibiotics, although most of them are now produced in laboratories. Drugs that include animal components can be approximately split into those with active components derived from animals and those that contain more or less inert, inactive excipients derived from animals that are included to produce an efficient drug. Many pharmaceutical products have constituents that would have implications for Muslim, Jewish, Sikh and Hindu patients.
Those with active components directly derived from livestock include: heparin, an injectable anticoagulant frequently obtained from porcine intestinal mucosa or bovine lung; conjugated estrogens: used in certain HRT preparations, derived from urine of pregnant mare; and insulin (bovine or porcine): obtained from cow or pig pancreas.
These days, animal insulin has been mainly substituted by human insulin or insulin analogues, although still available on prescription. Supplements with active ingredients from animal products include: calcium tablets, glucosamine, animal bones; lobster, shrimp, and crab shells; shark, bovine or porcine cartilage chondroitin; and animal blood heme iron supplements. Pharmaceutical companies are becoming more aware of the need to cater patients with particular dietary restrictions, so their major drugs with active ingredients derived from animals may well have synthetic solutions, manufactured in the laboratory.
In the drug class segment, allergies accounted for major market share with 34.6% in 2018 and is expected to retain its dominance by 2025. Increasing incidences of allergic diseases combined with elevated demand for in vitro diagnostic (IVD) blood tests are expected to drive industry development for allergic drugs in the coming years. According to reports released by the World Health Organization, in 2015, around 42 million cases of inhaled allergies were reported in the United States and this is contributing to the growth of inhaled allergies drugs market. Factors such as altering lifestyles, rising rates of indoor and outdoor pollution, bad dietary habits, and fast urbanization around the globe are also projected to result in enhanced incidences of allergic conditions.
Asia-Pacific was the largest market for halal pharmaceuticals in 2018, with the revenue of USD 39.90 billion, followed by Europe.
Growing awareness regarding availability of halal certified products coupled with increasing Muslim population is expected to open new avenues for halal pharmaceutical providers in the Asian countries over the coming years. In 2018, Muslim population in China was more than 20 million. Increasing Muslim population has created the need for halal certified products in this country. However, lack of standardization and certifications has resulted in less market in China. In order to resolve the problem Malaysia is helping China to produce halal products as per the standards.
In the Malaysian market, increasing demand for pharma products coupled with growing Muslim population has encouraged investors and international players to invest in halal certified pharma products and the trend is expected to spur over the coming years. Malaysia is one of the few that favoured the halal sector. Halal Industrial Parks in Penang was set up by pharmaceutical investors for manufacturing halal pharma products. There is also a Halal Penang port with export warehouse facilities and cold storage equipment. In the national industry, there is a high demand for, biosimilars, herbals, and low-cost medicines due to the high cost of medical facilities and drugs. So besides exporting Halal medicines, investors consider Malaysia as a halal hub for domestic consumers.
Furthermore, Europe is the base of well-developed pharmaceutical industry with presence of leading companies such as Bayer, Roche, Novartis, Sanofi, GlaxoSmithKline, Teva Pharmaceutical Industries, AstraZeneca, Boehringer Ingelheim, Novo Nordisk, and Accord. Muslim population accounted for more than 4.5% of overall population in Europe. Increasing Muslim population coupled with growing awareness regarding halal certified products is expected to increase market concentration over the forecast period. Amongst the European countries UK is expected to grow at a highest CAGR of 10.1% during the forecast period. In 2018, UK halal pharmaceutical market accounted for 6.9% of overall market in Europe. Research & development spending is the backbone of the U.K. pharma sector and is increasing continuously in the UK. In 2018, pharmaceutical industry in U.K. accounts for more than 45% of all R&D spending. Government initiative to strengthen pharma industry by increasing R&D spending is expected to offer lucrative opportunity for halal pharma industry over the coming years. For instance, the U.K. government has committed to increase investment in pharma R&D to 2.4% of GDP by 2027 and to 3% in the longer term.
The global halal pharmaceutical market was valued at USD 93.96 billion in 2018, and is expected to grow at a CAGR of 9.4% during the forecast period. Prevalence of strong fertility rates in North Africa, Middle East, ASEAN, and European countries is expected to provide a wide consumer base for driving the halal pharmaceutical market consumption. At present, the global average fertility rate is around 2.6 kids per woman in Muslims, which is higher than the minimum rate of 2.1 that indicates stable population growth. Migration patterns of the Muslim population is expected to help the halal pharmaceutical market players to target and penetrate in low concentrated geographies or non-Islamic countries. Developed economies in Europe and North America are considered to be important locations for Muslim immigrants over the next decade.
The global market is classified on the basis of drug class, product type, source material, and region. On the basis of drug class, the market segments include respiratory, cardiovascular, endocrine, pain medications, allergies, and others. The product type is segments include tablets, syrups, capsules, and others. Based on the source material, the market is classified into plant based, animal based, synthetic and semi-synthetic, and recombinant DNA. North America, Europe, Asia Pacific, Central and South America, and Middle East & Africa are the key regional segments of the global halal pharmaceutical market.
Recent industry activities and trends
In terms of geography, Asia Pacific is likely to remain the largest region comprising high Muslim populace followed by Middle East, Africa, Europe and lastly Americas. Fastest growth is expected to be illustrated in Sub-Saharan Africa, North Africa, and the Middle East regions. This, in turn, is anticipated to result in a wide expanse of the global halal pharmaceutical market penetration in the future.
Key Segments of the Global Halal pharmaceuticals Market
Reasons for the study
What does the report include?
Who should buy this report?
This study is suitable for industry participants and stakeholders in the halal pharmaceuticals market. The report will benefit:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
2.1 Research methodology
2.2 Market size estimation methodology
2.3 Forecasting methodology
2.3.1 Scope, definition, and assumptions
2.3.2 Assumptions
2.3.3 Data sources
Chapter 3 Market Outlook
3.1 Introduction
3.2 Market dynamics
3.2.1 Market drivers
3.2.1.1 Islamic demography to strongly support the halal pharmaceutical market growth
3.2.1.2 Significant Muslim consumer spending to increase market consumption of halal pharmaceuticals by 2025
3.2.2 Market restraint
3.2.2.1 Lack of proper infrastructure and clarity regarding manufacturing practices to hamper market demand
3.2.3 Market opportunities
3.2.3.1 Research & development activities on halal pharmaceuticals
3.2.3.2 Establishment of international halal licensing
3.3 Porter’s five forces analysis
3.4 Value chain analysis
3.5 Regulatory framework
3.6 Vendor landscape analysis, 2018
3.6.1 Recent industry activities and trends
Chapter 4 Global Halal Pharmaceuticals Market Overview by Drug Class
4.1 Global halal pharmaceuticals market share by drug class, 2018 & 2025
4.1.1 Global halal pharmaceuticals Market by drug class, 2015 - 2025
4.2 Respiratory drugs
4.2.1 Market size and projections, 2015 - 2025
4.3 Cardiovascular drugs
4.3.1 Market size and projections, 2015 - 2025
4.4 Endocrine drugs
4.4.1 Market size and projections, 2015 - 2025
4.5 Pain medications
4.5.1 Market size and projections, 2015 - 2025
4.6 Allergies (cough & cold)
4.6.1 Market size and projections, 2015 - 2025
4.7 Others
4.7.1 Market size and projections, 2015 - 2025
Chapter 5 Global Halal Pharmaceuticals Market Overview by Product
5.1 Global halal pharmaceuticals market share by product, 2018 & 2025
5.1.1 Global halal pharmaceuticals market by product, 2015 - 2025
5.2 Tablets
5.2.1 Market size and projections, 2015 - 2025
5.3 Syrups
5.3.1 Market size and projections, 2015 - 2025
5.4 Capsules
5.4.1 Market size and projections, 2015 - 2025
5.5 Others
5.5.1 Market size and projections, 2015 - 2025
Chapter 6 Global Halal Pharmaceuticals Market Overview by Source Material
6.1 Global halal pharmaceuticals market share by source material, 2018 & 2025
6.1.1 Global halal pharmaceuticals market by source material, 2015 - 2025
6.2 Plant and plant derivatives
6.2.1 Market size and projections, 2015 – 2025
6.3 Animals (compliant under religious laws)
6.3.1 Market size and projections, 2015 – 2025
6.4 Synthetic and semi-synthetic source
6.4.1 Market size and projections, 2015 – 2025
6.5 Recombinant DNA (rDNA)
6.5.1 Market size and projections, 2015 – 2025
Chapter 7 Halal Pharmaceuticals Market Overview by Region
7.1 Global halal pharmaceuticals market share by region, 2018 & 2025
7.1.1 Global halal pharmaceuticals market by region, 2015 - 2025
7.2 North America
7.2.1 Market size & projections, 2015 - 2025
7.2.2 Market size & projections by drug class, 2015 - 2025
7.2.3 Market size & projections by product, 2015 - 2025
7.2.4 Market size & projections by source material, 2015 - 2025
7.2.5 U.S.
7.2.5.1 Market size & projections, 2015 - 2025
7.2.6 Rest of North America
7.2.6.1 Market size & projections, 2015 - 2025
7.3 Europe
7.3.1 Market size & projections, 2015 - 2025
7.3.2 Market size & projections by drug class, 2015 - 2025
7.3.3 Market size & projections by product, 2015 - 2025
7.3.4 Market size & projections by source material, 2015 - 2025
7.3.5 Germany
7.3.5.1 Market size & projections, 2015 - 2025
7.3.6 France
7.3.6.1 Market size & projections, 2015 - 2025
7.3.7 U.K.
7.3.7.1 Market size & projections, 2015 - 2025
7.3.8 Russia
7.3.8.1 Market size & projections, 2015 - 2025
7.3.9 Turkey
7.3.9.1 Market size & projections, 2015 - 2025
7.3.10 Rest of Europe
7.3.10.1 Market size & projections, 2015 - 2025
7.4 Asia Pacific
7.4.1 Market size & projections, 2015 – 2025
7.4.2 Market size & projections by drug class, 2015 - 2025
7.4.3 Market size & projections by product, 2015 - 2025
7.4.4 Market size & projections by source material, 2015 - 2025
7.4.5 China
7.4.5.1 Market size & projections, 2015 - 2025
7.4.6 Malaysia
7.4.6.1 Market size & projections, 2015 - 2025
7.4.7 Japan
7.4.7.1 Market size & projections, 2015 - 2025
7.4.8 Rest of Asia Pacific
7.4.8.1 Market size & projections, 2015 - 2025
7.5 Central & South America
7.5.1 Market size & projections, 2015 - 2025
7.5.2 Market size & projections by drug class, 2015 - 2025
7.5.3 Market size & projections by product, 2015 - 2025
7.5.4 Market size & projections by source material, 2015 - 2025
7.5.5 Brazil
7.5.5.1 Market size & projections, 2015 - 2025
7.5.6 Rest of Central & South America
7.5.6.1 Market size & projections, 2015 - 2025
7.6 Middle East & Africa
7.6.1 Market size & projections, 2015 - 2025
7.6.2 Market size & projections by drug class, 2015 - 2025
7.6.3 Market size & projections by product, 2015 - 2025
7.6.4 Market size & projections by source material, 2015 - 2025
7.6.5 GCC
7.6.5.1 Market size & projections, 2015 - 2025
7.6.6 Rest of Middle East & Africa
7.6.6.1 Market size & projections, 2015 - 2025
Chapter 8 Company Profiles
8.1 Chemical Company of Malaysia Berhad
8.1.1 Company overview
8.1.2 Financial performance
8.1.3 Recent developments
8.2 Pharmaniaga Bhd
8.2.1 Company overview
8.2.2 Product offerings
8.2.3 Financial performance
8.2.4 Recent developments
8.3 Simpor Pharma Sdn Bhd
8.3.1 Company overview
8.3.2 Product offerings
8.3.3 Financial performance
8.4 EMBIL Pharmaceutical Co., Ltd.
8.4.1 Company overview
8.4.2 Product offerings
8.5 Nutramedica Incorporated
8.5.1 Company overview
8.5.2 Product offerings
8.6 Halal Pharma International Ltd.
8.6.1 Company overview
8.6.2 Product offerings
8.6.3 Financial performance
8.7 Hovid Bhd
8.7.1 Company overview
8.7.2 Product offerings
8.7.3 Financial performance
8.8 Bosch Pharmaceuticals (Pvt.) Ltd.
8.8.1 Company overview
8.8.2 Product offerings
8.8.3 Financial performance
8.9 Duopharma Biotech Berhad
8.9.1 Company overview
8.9.2 Product offerings
8.9.3 Financial performance
8.9.4 Recent developments