Halal pharmaceuticals market set to grow to US$105b by 2024, says minister | Malay Mail

KUALA LUMPUR, Sept 9 — The global Halal pharmaceuticals market is set to grow to US$105 billion by 2024 from US$94 billion in 2019, especially in the preventive care segment.

“As such, we should see an exponential growth in this sector, not only in the Muslim countries but also the rest of the world,” he said. He pointed out that many micro, small and medium enterprises have not been fully integrated into the global Halal supply chain as many do not have Halal certification due to their inadequate capacity to obtain certification, expertise, network and funding.

Mohamed Azmin said in dealing with the aforementioned standardisation issues, the Department of Islamic Development Malaysia is collaborating with 84 Halal certification bodies from 46 countries for uniformity of standards, to ensure compliance with Shariah laws.

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