Pharmaceuticals - Southern Africa

Southern Africa

The Pharmaceuticals market in Southern Africa is expected to witness a substantial growth in revenue, projected to reach US$3.61bn by 2024.
Within this market, the largest market is Oncology Drugs, with a projected market volume of US$0.62bn in the same year.
Furthermore, the market is anticipated to display a steady annual growth rate of 4.46% from 2024 to 2029, resulting in a market volume of US$4.49bn by 2029.
When compared globally, it is noteworthy that United States is poised to generate the highest revenue, amounting to US$630.30bn in 2024.
Southern Africa is experiencing a surge in pharmaceutical research and development, positioning the region as a potential hub for innovative healthcare solutions.

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

Southern Africa is a region with a diverse and growing pharmaceutical market. With a population of over 300 million people, the region presents a significant opportunity for pharmaceutical companies to expand their business.

Customer preferences: The pharmaceutical market in Southern Africa is driven by the increasing demand for affordable and accessible healthcare services. Customers in the region are looking for medicines that are effective, safe, and affordable. The preference for generic medicines is also on the rise due to their lower cost compared to branded medicines. Customers are also increasingly turning to online pharmacies to purchase their medicines, which presents an opportunity for pharmaceutical companies to expand their online presence.

Trends in the market: The pharmaceutical market in Southern Africa is expected to grow significantly in the coming years. One of the major trends in the market is the increasing focus on research and development of new drugs. Pharmaceutical companies are investing heavily in research and development to bring new drugs to the market. Another trend in the market is the increasing adoption of digital technologies in the pharmaceutical industry. Companies are using digital technologies to improve their operations, increase efficiency, and provide better services to their customers.

Local special circumstances: The pharmaceutical market in Southern Africa is characterized by a number of local special circumstances. One of the major challenges in the region is the lack of access to healthcare services, particularly in rural areas. This presents an opportunity for pharmaceutical companies to expand their reach and provide affordable and accessible healthcare services to underserved communities. Another challenge in the region is the high prevalence of diseases such as HIV/AIDS, malaria, and tuberculosis. Pharmaceutical companies are working to develop new drugs to treat these diseases and improve the health outcomes of patients in the region.

Underlying macroeconomic factors: The pharmaceutical market in Southern Africa is influenced by a number of underlying macroeconomic factors. One of the major factors is the economic growth of the region. As the economies of Southern Africa continue to grow, the demand for healthcare services is expected to increase. Another factor is the regulatory environment in the region. Pharmaceutical companies need to comply with a range of regulatory requirements to operate in the region, which can impact their operations and profitability. Finally, the availability of skilled labor is also a key factor in the growth of the pharmaceutical market in Southern Africa. Companies need skilled workers to develop and manufacture new drugs, and the availability of skilled labor can impact the growth potential of the industry.

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.