Pharmaceuticals - Central Africa

Central Africa

In 2024, the projected revenue for the Pharmaceuticals market in Central Africa is expected to reach US$688.70m.
Among the various markets, the largest one is Oncology Drugs, which is projected to have a market volume of US$93.23m in 2024.
Looking ahead, the revenue is expected to experience an annual growth rate of 2.04% (CAGR 2024-2029), resulting in a market volume of US$761.80m by 2029.
In global comparison, it is worth noting that United States is expected to generate the highest revenue, with an estimated amount of US$630.30bn in 2024.
The pharmaceutical industry in Central Africa plays a significant role in the country's economy and healthcare sector, contributing to advancements in medical research, drug development, and patient care.
"Central Africa is experiencing a surge in demand for essential medicines due to increased healthcare awareness and improved access to healthcare facilities."

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Central Africa has been experiencing a steady growth in recent years, driven by various factors such as population growth, increased awareness of health issues, and rising disposable incomes.

Customer preferences: Consumers in Central Africa have shown a growing preference for generic drugs due to their affordability and accessibility. This has led to an increase in local production of generic drugs, which has also contributed to the growth of the pharmaceuticals market in the region. Additionally, there has been a growing demand for over-the-counter drugs, which are easily accessible and affordable to the general population.

Trends in the market: One of the major trends in the pharmaceuticals market in Central Africa is the increasing focus on research and development of new drugs. This has been driven by the need to address the growing burden of diseases such as malaria, HIV/AIDS, and tuberculosis in the region. There has also been a growing interest in the use of traditional medicines, which has led to the development of new drugs based on traditional remedies.

Local special circumstances: The pharmaceuticals market in Central Africa is characterized by a fragmented market structure, with a large number of small and medium-sized companies operating in the region. This has led to intense competition and price wars, which has had a negative impact on the profitability of companies in the market. Additionally, the lack of adequate infrastructure and regulatory frameworks has also hindered the growth of the market in the region.

Underlying macroeconomic factors: The growth of the pharmaceuticals market in Central Africa is closely linked to the overall economic performance of the region. The region has experienced steady economic growth in recent years, driven by the growth of the oil and gas sector, as well as increased investment in infrastructure development. This has led to rising disposable incomes, which has in turn led to increased spending on healthcare and pharmaceutical products. However, the region is also characterized by high levels of poverty and inequality, which has limited the growth of the market among low-income consumers.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.