Demand and Trend Analysis of Pharmaceuticals in Africa
Study on Pharmaceuticals in Africa by Oral, Parenteral Formulations, Topical Formulations, and Inhalation Formulations from 2024 to 2034
Analysis of Pharmaceuticals Industry Covering Countries Include Analysis of Nigeria, Benin, Democratic Republic of Congo, Republic of the Congo, Ivory Coast, Sierra Leone, Rwanda, and Rest of Africa
Pharmaceutical Sales Outlook for Africa (2024 to 2034)
As per a newly published study by Fact.MR, sales of pharmaceuticals in Africa are pegged at US$ 53.19 billion in 2024. Regional demand for pharmaceuticals is forecasted to increase at 8.3% CAGR and reach a market valuation of US$ 117.79 billion by the end of 2034.
Increasing health awareness and economic growth are set to lead to rising expenditure in the healthcare sector, which will also drive an increase in the demand for pharmaceutical products. With rapid urbanization, a significant section of the population is relocating from rural areas to urban settings due to improved infrastructure, employment opportunities, and better access to several other services, including pharmaceuticals.
Noteworthy changes in lifestyles generally accompany urbanization. People’s transition to urban areas is leading to the adoption of new habits and behaviors influenced due to urban lifestyles. Increased alcohol and tobacco consumption, reduced physical activity levels, and dietary shifts to processed foods are some of the changes that are leading to several health risks, further contributing to the increased burden of numerous non-communicable diseases in the region. Pharmaceutical suppliers are responding to these trends and offering different medications to address the various healthcare requirements of people.
Report Attributes | Details |
---|---|
Pharmaceutical Sales in Africa (2024E) | US$ 53.19 Billion |
Forecasted Sales (2034F) | US$ 117.79 Billion |
Demand Growth (2024 to 2034) | 8.3% CAGR |
Sales in Nigeria (2024E) | US$ 4.92 Billion |
Demand Growth in Democratic Republic of Congo (2024 to 2034) | 10.7% CAGR |
Demand Growth in Republic of Congo (2024 to 2034) | 9.7% CAGR |
Market Share of Oral Formulations (2034F) | 55.2% |
Key Companies Profiled |
|
Don't Need a Global Report?
save 40%! on Country & Region specific reports
Why are Sales of Pharmaceuticals Rising Swiftly in Africa?
“Rising Cases of Non-communicable Diseases and Supportive Initiatives for Pharmaceutical Production”
Governments from several regional countries, including Nigeria, the Democratic Republic of Congo, etc. are taking initiatives to provide easy access to certain pharmaceuticals.
For instance :
- In 2019, the UNECA (United Nations Economic Commission for Africa) was established to provide access to several essential medicines. This initiative is predicted to focus on 10 pilot countries, including Madagascar, Seychelles, Comoros, Djibouti, Rwanda, Mauritius, Eritrea, Sudan, Ethiopia, and Kenya to ensure effective healthcare facilities.
Chronic diseases, including diabetes, cardiovascular diseases, cancer, and respiratory diseases, are becoming more prevalent in African countries. Therefore, an increase in the demand for medications is experienced for the management of these conditions. Growing burden of chronic diseases is predicted to ensure the accessibility and availability of several pharmaceutical products to match the healthcare requirements of the regional population.
Country-wise Insights
What Makes Nigeria a Lucrative Market for Pharmaceutical Suppliers?
“Rising Investments in Improving Healthcare Facilities”
Attribute | Nigeria |
---|---|
Market Value (2024E) | US$ 4.92 Billion |
Growth Rate (2024 to 2034) | 7.6% CAGR |
Projected Value (2034F) | US$ 10.20 Billion |
The government of Nigeria is taking several initiatives to improve healthcare affordability and access. These initiatives include programs to establish healthcare centers across rural areas, promote the manufacturing of pharmaceutical products locally, adoption of telemedicine services, and ensure the availability of essential medicines. The Nigerian Drug Policy, National Drug Distribution Guidelines, etc. are some programs, which are becoming popular in Nigeria.
What’s Positively Influencing Demand for Pharmaceuticals in the Democratic Republic of Congo?
“Increasing Emphasis on Improving Distribution Systems and Enhancing Local Manufacturing Capacity”
Attribute | Democratic Republic of Congo |
---|---|
Market Value (2024E) | US$ 2.13 Billion |
Growth Rate (2024 to 2034) | 10.7% CAGR |
Projected Value (2034F) | US$ 5.87 Billion |
The Democratic Republic of Congo is concentrating on the local production of pharmaceutical products. It involves setting up several manufacturing facilities in the country to minimize dependency on pharmaceutical imports. Currently, the country is grappling with several non-communicable diseases, including diabetes and cardiovascular diseases. The rising burden of these diseases stimulates requirements for pharmaceutical products, including diagnostic tools, vaccines, and treatments.
Increasing population in the Democratic Republic of Congo and rising healthcare requirements are predicted to propel the demand for vaccines, medicines, and other pharmaceutical products. These factors are predicted to make the Democratic Republic of Congo a key market for manufacturers, who are exploring opportunities in this space.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Category-wise Insights
Which Pharmaceutical Dosage Form Accounts for Most Sales in Africa?
“High Demand for Oral Formulations Due to Their Affordability and Simplified Administration”
Attribute | Oral Formulations |
---|---|
Segment Value (2024E) | US$ 25.83 Billion |
Growth Rate (2024 to 2034) | 9.7% CAGR |
Projected Value (2034F) | US$ 65.06 Billion |
Oral formulations, including capsules and tablets, are comparatively easy to administer. There is no need for specialized medical personnel to administer the consumption of oral medicines. In addition, they are suitable for home applications with self-administration features. Most of the patients are familiar with oral medications. Oral formulations are commonly preferred because of their convenience.
Compared to more complex forms of dosage, including inhalants or injectables, the production of oral formulations is more economical. Their affordability increases their accessibility to a larger population base in Africa. Moreover, increasing cases of chronic diseases in some African countries are predicted to have a favorable impact on the consumption of oral dosage formats.
Consumption of oral medicines effectively helps in the management of several ailments. Therefore, pharmaceutical enterprises are emphasizing the production and promotion of oral formulations.
Competition Landscape
According to the study published by Fact.MR, a market research and competitive intelligence provider, key pharmaceutical suppliers in Africa are investing to achieve certain goals, including new product development, ensuring the management of their supply chain, quality control, etc.
Key players operating in the African market are Sanofi S.A., GSK Inc., Pfizer Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Bayer AG, AstraZeneca, Hikma Pharmaceuticals PLC, Novo Nordisk A/S, Merck & Co., Inc., Takeda Pharmaceutical Company Limited, Bristol Myers Squibb Co., Aspen Holdings, May & Baker Nigeria PLC, Johnson & Johnson, Chemiron International Limited, Neimeth International Pharmaceuticals PLC, Mopson Pharmaceutical Ltd., Pharma Deko PLC, Swiss Pharma Nigeria Limited, and Emzor Pharmaceutical Industries Limited.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Segmentation of Pharmaceutical Study in Africa
-
By Dosage Form :
- Oral Formulations
- Parenteral Formulations
- Topical Formulations
- Inhalation Formulations
-
By Distribution Channel :
- Pharmacy/OTC Stores
- Retail Stores
- Online Channels
-
By Country :
- Nigeria
- Benin
- Democratic Republic of Congo
- Republic of the Congo
- Ivory Coast
- Sierra Leone
- Rwanda
- Rest of Africa
- FAQs -
What is the sales value of pharmaceuticals in Africa?
Sales of pharmaceuticals in Africa are pegged at US$ 53.19 billion in 2024.
What is the projected valuation of the African market for 2034?
Demand for pharmaceuticals in Africa is predicted to reach a market value of US$ 117.79 billion by the end of 2034.
At what rate is the demand for pharmaceuticals projected to rise in Africa?
The market in Africa is predicted to increase at a CAGR of 8.3% from 2024 to 2034.
What is the share of oral formulations in the regional market?
Oral formulations are projected to account for 55.2% share of the market in 2024.
What is the projected size of the market in Nigeria for 2024?
Sales of pharmaceuticals in Nigeria are estimated at US$ 4.92 billion in 2024.
At what CAGR is the demand for pharmaceuticals predicted to rise in the Democratic Republic of Congo?
Sales of pharmaceuticals in the Democratic Republic of Congo are projected to increase at 10.7% CAGR from 2024 to 2034.