Middle Eastern countries including such as the United Arab Emirates (UAE) and Saudi Arabia are becoming major importers of Korean biopharmaceutical products.

Middle Eastern countries are becoming major importers of Korean biopharmaceutical goods.
Middle Eastern countries are becoming major importers of Korean biopharmaceutical goods.

According to the Korea Customs Service's import and export statistics on Tuesday, exports of medical supplies, including pharmaceuticals and diagnostic products, to four Middle Eastern countries -- the UAE, Saudi Arabia, Kuwait, and Qatar -- increased by 164.5 percent from $15.98 million in 2016 to $42.26 million in 2021.

The UAE was the biggest importer of Korean medical supplies during this period, with exports increasing from $7.893 million to $20.958 million, followed by Saudi Arabia ($6.19 million to $16.538 million), Kuwait ($1.732 million to $3.362 million), and Qatar ($165,000 to $1.404 million).

"In the past, Korea exported various hospital systems to the Middle East, including Saudi Arabia," said Lee Seung-kyu, vice chairperson of KoreaBIO. "As a result, the Middle East seems to have a positive perception of Korean medical devices and biopharmaceuticals."

The recent increase in exports had a significant impact on the increase in exports of Covid-19 kits, Lee added.

According to the 2022 National Health Industry Status Report recently published by the Korea Health Industry Development Institute, Saudi Arabia's diagnostic kit imports have grown at an average annual rate of 9.73 percent since 2015 to reach $720 million in 2020.

The report explained that among the diagnostic kits imported from Saudi Arabia, a significant portion of them was made in Korea.

Due to the large interest in Korean medical supplies from Middle Eastern countries, Korean healthcare companies are also accelerating their entry into the Middle East market with various products.

Chong Kun Dang plans to advance into the Middle East with LucenBS (ingredient: ranibizumab), a biosimilar referencing Lucentis to treat wet age-related macular degeneration (AMD). The company is also undergoing a licensing procedure for Nesbell (ingredient: Darbepoetin-α), a biosimilar referencing Nesp to treat anemia for patients with chronic renal failure, in six countries in the Middle East.

Boryung is currently looking into exporting its hypertension combo drug lineup Kanarb.

HK inno.N, which is currently exporting Epokine, an anemia treatment drug to the Middle East, plans to release K-CAB, its gastroesophageal reflux drug.

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