African Pharmaceutical Market is anticipated to witness a lucrative and double-digit growth by 2027

Contact Us
Medi-Tech Insights
121/7E Avenue Franklin Roosevelt 1050 Brussels, Be
Brussels 1050 
Phone:32 498868079

The African pharmaceutical market is a complex but rapidly emerging market which plays a huge role in the healthcare and pharma segment. The pharmaceutical market refers to the market for pharmaceutical and medical products, which includes prescription drugs, over-the-counter drugs, generic drugs and other pharma products. It is a highly regulated market which is focused on research, development, manufacturing, and distribution of drugs and pharma products.

Rapid Growth and Significant Expansion Opportunities in the African Pharmaceutical Market

The pharmaceutical market in Africa is less developed as opposed to the other well developed regions such as North America, Europe, Asia-Pacific, which makes it a great segment for new investment opportunities. The African pharmaceutical market is growing at a lucrative rate, along with developing new investment and growth opportunities for global companies.

Africa’s fast growing urbanization is also driving the growth of the top pharmaceutical companies. With the emergence of metro cities and growing awareness of health diseases such as diabetes, ADHD and malaria, there has been a rapid growth in the purchase of terminal disease medications and healthcare costs. Governments are updating their internal policies to attract foreign investors and global companies which is further leading to a growing commercial landscape in Africa.

The tropical environment in Africa is favourable enough to the spread of many diseases due to the introduction of new disease-transmitting organisms. As a result, there are many infectious diseases already present in the African population, such as Cholera, TB, Influenza, Hepatitis, and AIDS. The African continent experiences the outbreaks of many diseases such as Polio, Meningitis, Cholera, Influenza, Yellow Fever, Measles, Hepatitis, Malaria, Tetanus.

Recent shift towards a Western lifestyle in Africa has caused a quick surge in the non-communicable diseases, further leading to a huge demand for chronic prescription drugs. Governments in many African regions are trying to enhance their healthcare infrastructures and provides easy access to medicines, which is further expected to boost the growth of the African pharmaceutical market. Rapid adoption of generic drugs and the growth of e-commerce in Africa are also projected to drive the growth of the African pharmaceutical market.

Positive Market Dynamics and Upcoming Growth Opportunities of Pharmaceutical Companies in the African Pharmaceutical Market

Covid-19 Pandemic had thrown light on the vulnerability of the healthcare systems and focused mainly on the importance of regions ensuring a basic level of supply security for medical products. Essential drugs and medicines are not available in Africa as it depends mostly on imports from other developed regions, with up to 70% of pharmaceutical products being imported. Local vaccine production can meet only less than 1% of the local market demand.

The pharmaceutical market in Africa is classified into three categories: prescription drugs, generics drugs and over-the-counter drugs. Generics have experienced the quickest growth. The production of generics provides a decent chance for the private segment to focus their investments and enrich their results.

Leading pharma companies need to partner with local enterprises, companies, vendors and governments to improve and increase their chance of success in the pharmaceutical market. Working together on research, product awareness campaigns and medical device provision can help establish a strong foothold of the African pharmaceutical market.

Key Market Challenges: African Pharmaceutical Market

Africa’s pharmaceutical segment faces several market challenges, which includes fragmented markets, weak regulatory frameworks, and inadequate manpower capacity. Poor procurement and supply chain systems, as well as policy incoherencies across trade, market, health, and finance segment, and lack of funds for R&D activities also impacts the growth of the African pharmaceutical market.

Competitive Landscape Analysis: African Pharmaceutical Market

Some of the top and upcoming players operating in the African pharmaceutical market are: Adcock Ingram, F. Hoffmann-La Roche, Pfizer Inc., Novartis AG, Johnson & Johnson (Janssen Global Services LLC), Sanofi, Bayer, Aspen, Cipla, and Merck and Co. Inc., etc.

The African pharmaceutical market is expected to gain a lucrative growth in the upcoming years due to the rising African population, increasing demand for generic drugs, growing cases of chronic diseases and government initiatives to improve easy access to medicines & healthcare infrastructures and growth strategies adopted by the key players operating in the African pharmaceutical market.

Get Detailed Insights on African Pharmaceutical Market with a FREE Sample Report @