What were the biggest developments in the global halal pharmaceuticals industry in 2019-2020? The State of the Global Islamic Economy 2020/21 report from DinarStandard gives a detailed breakdown of the movements in the industry.
MARKET SIZE
- Muslims spent $94 billion on pharmaceuticals (note: pharmaceuticals in general, and not halal pharmaceuticals only) in 2019, up 2.3% from $92 billion in 2018.
- Turkey, Saudi Arabia and USA are the top countries by expenditure.
- Muslim expenditure on pharmaceuticals is set to drop by 6.9% in 2020 to $87 billion due to the COVID-19 crisis.
- A recovery to 2019 levels is expected in 2021.
- Muslim expenditure on pharmaceuticals is forecasted to reach $105 billion by 2024.
Continue reading
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Joined by 12,000+ Islamic economy professionals
Create a free account
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
