Ibnsina Pharma leads Egypt's pharmaceutical distribution firms in 2024
Updated 2/2/2025 2:26:00 PM
Arab Finance: Ibnsina Pharma has ranked first among pharmaceutical distribution companies in Egypt for the second consecutive year, according to a statement on February 2nd.
The company achieved a total market share of 30.8%, the latest reports by IQVIA on the Egyptian pharmaceutical market in 2024 showed. This followed the firm's strong performance in 2023 when it held a market share of 24.2%.
Ibnsina Pharma controlled a market share of 34.6% in the pharmacies and wholesale sector, which represents over 75% of the total Egyptian pharma market.
It also came first in the public and private hospital sector, with a market share of 21.9%, equivalent to nearly 25% of the pharma market size.
The Egyptian pharma market recorded annual sales of EGP 292 billion in 2024, higher by 42% than EGP 206 billion in 2023, as per the report.
The surge was driven by price increases that began accelerating in the third quarter (Q3) due to the adjustment of pharma prices following the exchange rate devaluation in Q1 2024.
Ibnsina Pharma previously announced a 63% hike in revenue to EGP 39.8 billion during the first nine months of 2024, versus EGP 24.5 billion in the same period of 2023.
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