Increasing resilience in the GCC pharmaceutical and biotechnology industry through research and development

Building a world-class workforce

GCC recognizes the critical importance of developing outstanding healthcare professionals to achieve its ambitious goals in the pharmaceutical and healthcare sectors. The aim of this strategic goal is to expand higher education and postgraduate programs in science and engineering fields. Additionally, GCC creates an attractive environment for researchers through competitive compensation packages, comprehensive benefits and clearly defined career development opportunities.

Additionally, the GCC recognizes the need for self-sufficiency and is actively reducing its dependence on foreign healthcare workers. This is achieved through significant investment in national medical colleges and training centers specifically designed to develop a strong national health workforce.

To ensure continuous improvement, GCC actively participates in internationally recognized university ranking systems such as the QS World University Rankings and the Times Higher Education World University Rankings. By using these standards, GCC can improve its educational offering and ensure its compliance with the highest global standards. This unwavering commitment to building a world-class domestic talent pool will undoubtedly be a transformative force for the GCC’s pharmaceutical and biotechnology sectors.

Strengthening the intellectual property (IP) framework and regulations.

The GCC is laying a solid foundation for its future in the pharmaceutical and biotechnology industries by strengthening its regulatory environment. This strategic initiative includes strengthening intellectual property protection to encourage innovation and attract investment. These efforts not only benefit domestic entrepreneurs, but also promote collaboration between universities and industry players. In addition, streamlined drug approval processes ensure compliance with international standards. These reforms create a mutually beneficial environment, making the GCC an attractive destination for both local and international pharmaceutical companies.

Prioritizing biotechnology for a self-sustaining pharmaceutical industry

GCC countries have strategically prioritized the development of their biotechnology sector to reduce import dependence and cultivate a self-sustaining pharmaceutical industry. This focus is demonstrated by encouraging joint ventures between international pharmaceutical companies and local manufacturers, facilitating the rapid transfer of key technologies. Moreover, active cooperation between universities, research institutions and industrial entities fosters interdisciplinary research and promotes joint projects.

GCC countries recognize the value of international cooperation and actively participate in exchange programs, leveraging global expertise to drive advances in biotechnology.

This is pioneered by Saudi Arabia’s National Biotechnology Strategy, which is a pioneering model. This comprehensive strategy focuses on providing strong support for research and development ventures, developing strong local bio-manufacturing capabilities and establishing strategic partnerships with global leaders in the field.

These combined efforts are meticulously designed to bring the GCC to the forefront of the global biotechnology landscape. With an unwavering commitment to continuous investment and strategic development, the GCC pharmaceutical market is expected to experience significant growth, exceeding USD 27.5 billion in the next five years.

In summary, GCC countries are actively working towards achieving self-resilience in the pharmaceutical and biotechnology sectors. The focus is on moving towards value creation through implementation and innovation of high-end services and technologies. Through initiatives focused on innovation, research and development and local production, GCC aims to reduce its dependence on imported pharmaceutical products and become a global leader in the industry. Efforts such as cultivating collaboration, building human capital, encouraging interdisciplinary research, and participating in international collaborations drive technology transfer and knowledge sharing in the region.