Halal Pharmaceuticals Industry 2019 —
The global Halal Pharmaceuticals Market is anticipated to reach USD 34.82 billion by 2026.
The significant growth in the Halal Pharmaceuticals Market is primarily due to the rapid increase in the Muslim population, along with their improving disposable income. Increasing purchasing power and deepening belief in Shariah law together is responsible for creating a surge in demand for halal pharmaceuticals. Shariah law is derived from the Quran and is basically a collection of practices, words, habits, and silent approvals. As per the law, products containing the discharge of human beings or animals, and in direct or indirect contact with non-halal items. Moreover, it must not contain traces of things that are unfit for human consumption such as poison, and toxic elements.
Halal pharmaceuticals are expected to be prepared under a controlled environment to avoid any cross-contamination with non-halal utilities, materials, and ingredient. Extra care is taken in the manufacturing of these pharmaceuticals as no contamination will be tolerated. Rapid growth in demand has encouraged the Halal Pharmaceuticals Market players to actively indulge in activities that are aimed at or new product development.
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Growing Muslim population is showcasing a high interest in halal pharmaceuticals and cosmetics. This can be attributed to the increasing consumer awareness about the deepening beliefs and growing knowledge that pharmaceuticals contain alcohol, porcine-by products, and their derivatives, among other non-halal contents or ingredients that are against Islamic beliefs.
The Halal Pharmaceuticals Market experience tough challenge in defining proper regulation and standards. Recently, American pharmaceuticals companies expressed their concerns over the guidelines by Malaysia’s Ministry of Health (MOH). These guidelines were focused towards defining the permissible items in pharmaceuticals in accordance with Islam. The concern was highlighted in the annual submission to the United States Trade Representative by the Pharmaceutical Researchers and Manufacturers of America (PhRMA).
The Halal Pharmaceuticals Market has been segregated based on drug class, type, end-use, and region. By drug class, the market has been divided into allergies, endocrine drugs, pain medications, respiratory drugs, and others. By type, the market has been bifurcated into capsule, syrup, and tablet. The industry experience high demand for end-use applications such as drugs, cosmetics, healthcare, and others.
The Middle East and the Asia Pacific regions Halal Pharmaceuticals Market are expected to witness significant growth in the next eight years due to the presence of a large population of Muslims. Majority of the Muslim population of the world lives in these regions, and they also comprise of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan that have a high population that follows Islamic beliefs.
The list of key companies that are operating in the Halal Pharmaceuticals Market includes Chemical Company of Malaysia Berhad, Rosemont Pharmaceuticals, Bosch Pharmaceuticals, Noor Vitamins, EMBIL Pharmaceutical Co., Ltd, Nutramedica Incorporated, PharmaniagaBhd, and SimporPharmaSdnBhd, among others.
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Table Of Contents – Major Key Points
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Key take-away
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Halal Pharmaceuticals Market Insights
3.1. Halal Pharmaceuticals– Industry snapshot
3.2. Halal Pharmaceuticals -Ecosystem analysis
3.3. Halal Pharmaceuticals market dynamics
3.3.1. Halal Pharmaceuticals– Market Forces
22.214.171.124. Halal Pharmaceuticals Market driver analysis
126.96.36.199. Halal Pharmaceuticals Market restraint/challenges analysis
188.8.131.52. Halal Pharmaceuticals Market opportunity analysis
3.4. Industry analysis - Porter's five force
3.4.1. Bargaining power of supplier
3.4.2. Bargaining power of buyer
3.4.3. Threat of substitute
3.4.4. Threat of new entrant
3.4.5. Degree of competition
3.5. Halal Pharmaceuticals market PEST analysis, 2017
3.6. Halal Pharmaceuticals market Value Chain analysis
3.7. Halal Pharmaceuticals Industry trends
3.8. Competitive Ranking Analysis
4. Halal Pharmaceuticals Market Size and Forecast by Drug Class
4.1. Key Findings
4.3. Endocrine Drugs
4.3.1. Global Market Estimates and Forecasts, 2017-2026
4.4. Pain Relief Medications
4.4.1. Global Market Estimates and Forecasts, 2017-2026
4.5. Respiratory Drugs
4.5.1. Global Market Estimates and Forecasts, 2017-2026
5. Halal Pharmaceuticals Market Size and Forecast by Product type
5.1. Key Findings
5.2.1. Global Market Estimates and Forecasts, 2017-2026
5.3.1. Global Market Estimates and Forecasts, 2017-2026
5.4.1. Global Market Estimates and Forecasts, 2017-2026
6. Halal Pharmaceuticals Market Size and Forecast by Regions
6.1. Key findings
6.2. North America
6.2.1. Halal pharmaceuticals market by drug class, 2017 - 2026
6.2.2. Halal pharmaceuticals market by product type, 2017 - 2026
6.3.1. Halal pharmaceuticals market by drug class, 2017 - 2026
6.3.2. Halal pharmaceutical market by product type, 2017 - 2026
6.4.1. Halal pharmaceuticals market by drug class, 2017 - 2026
6.4.2. Halal pharmaceutical market by product type, 2017 - 2026
6.5.1. Halal pharmaceuticals market by drug class, 2017 - 2026
6.5.2. Halal pharmaceuticals market by product type, 2017 - 2026
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