CAPE TOWN, South Africa, Feb. 20, 2017 /PRNewswire/ -- There has been a paradigm shift in the burden of illness and non-communicable
"An increase in health spending will encourage local manufacture of drugs," said Transformational Health Research Analyst Saravanan Thangaraj. "We expect this increase in local formulation and filling to be protected by regulatory and tariff barriers, so international players will be looking for local contract manufacturers and other strategic partnerships."
African Pharmaceuticals Market, Forecast to 2020, part of Frost & Sullivan's Life Sciences Growth Partnership Service program, provides valuable insights for Big Pharma and generic manufacturers looking to set up manufacturing units in Africa; as well as over-the-counter (OTC) and chronic disease therapeutics manufacturers; large, local enterprises in Kenya and Nigeria; and Tier 1 distributors. In addition to a brief competitive overview, the research details the pricing and regulatory environment, revenues and growth forecasts, as well as market dynamics—particularly challenges, drivers and restraints. Therapeutic areas covered include haematology, oncology, men's health, central nervous system (CNS), women's health, diabetes, cardiovascular, dermatologicals, gastrointestinals, cough and colds, nutritionals, analgesics and anti-infectives.
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Heavy dependence on price, coupled with complexities associated with public sector tendering, make it difficult for multinationals to compete in this space. The private market, on the other hand, faces challenges with regards to fragmented payer channels between donors, private insurance payers and employers, even as high out-of-pocket expenses restrict patient access to medicines.
Nonetheless, several trends are encouraging investment:The regulatory environment for manufacturing in East Africa is improving rapidly with increasing regional harmonisationPharmaceutical spending in Africa was noted to be growing by 10.6 percentOut-of-pocket spend on healthcare is increasingThe share of OTC drugs is high, indicative of a culture of self-medication in Nigeria and KenyaContribution of NCDs to the healthcare burden in Africa will rise by 21 percent through 2030
"Addressing loopholes in the supply chain and distribution channels is crucial for foreign companies to ensure product availability and prevent circulation of counterfeit drugs," added Thangaraj. "Investing in technical training of distributors and pharmacists, and product-specific initiatives like barcodes and holograms to track counterfeits, can also help minimize drug trafficking and enhance the brand's image."
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African Pharmaceuticals Market, Forecast to 2020MC24-52
Contact:Samantha JamesCorporate Communications – AfricaP: +27 21 680 3574F: +27 21 680 3296E: email@example.com
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