Africa Pharmaceutical Market size is Predicted to Witness 3.4% CAGR till 2030

[sara James]

The Africa pharmaceutical market size was estimated at USD 26.85 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2030. This growth is attributed to rising health-consciousness, increasing demand for pharmaceuticals due to chronic diseases, and affordability. According to the South African government, pharmaceutical sales and demand are likely to propel in coming years due to the high incidence of infectious & lifestyle diseases, such as obesity, hypertension, diabetes, and cancer.

The African region has witnessed gradual developments in its pharmaceutical industry. Additionally, the increasing focus by regional government authorities on the well-being of their growing populations, coupled with advancements in healthcare services, is expected to propel the market over the forecast period. Ensuring the safe and timely delivery of pharmaceuticals has emerged as a priority for regional governments, offering lucrative opportunities for local manufacturers. Africa region has witnessed gradual developments in its pharmaceutical industry. In addition, increasing focus by regional government authorities on the well-being of their growing populations, coupled with advancements in healthcare services, is expected to propel the market over the forecast period. Ensuring safe and timely delivery of pharmaceuticals has emerged as a priority for regional governments, offering lucrative opportunities for local manufacturers. In addition, the implementation of a pooled procurement mechanism in Africa is expected to create a favorable environment for leading manufacturers of generics to build plants in the country. South Africa has implemented organized cancer screening programs, which are anticipated to improve the demand for cancer treatment drugs.

 

List of Key Players in the Africa Pharmaceutical Market

• Abbott Laboratories
• AbbVie
• Alfasigma
• Aspen
• Aurobindo Pharma
• AstraZeneca
• Bristol Myers Squibb
• BGM
• Cipla
• Sun Pharma
• BAYER

 Request a free sample copy or view report summary:  Africa Pharmaceutical Report

Africa Pharmaceutical Market Report Highlights

Based on molecule type, the market for conventional drugs (small molecules) dominated the market with a revenue share of 55.2 % in 2023. This growth can be attributed to a well-structured manufacturing facility, predictable pharmacokinetics, and oral bioavailability. 

Branded segment dominated the pharmaceutical market with a revenue share of 67.2% in 2023. The growth is attributed to the rising prevalence of chronic diseases, increasing R&D and approval of novel pharmaceuticals, and the rising demand for innovative therapies to treat various conditions. 

The prescription segment held the market with a revenue share of 87.0 % in 2023. This growth is attributed to rising R&D investments by key companies and the rising prevalence of chronic disorders, increasing the demand for prescription medicines. 

Based on disease, the Cancer segment dominated the overall market with a share of 17.5 % in 2023. The country has a very high prevalence of cancer, and the government is striving to improve cancer care by providing preventive strategies, promoting diagnosis rates, and facilitating treatment access to people. 

Based on the route of administration, the oral route dominated the market with a revenue share of 58.0 % in 2023. This can be attributed to several key factors such as rapid bioavailability, non-invasive nature, and higher consumer adherence rates.

Tablets dominated the market with the largest market share of 26.1 in 2023 in the pharmaceuticals market. Tablets are highly preferred due to their simplicity of administration and affordability. 

Related Press Release@  Africa Pharmaceutical Industry Analysis

Africa Pharmaceutical Market Segmentation

Grand View Research has segmented the Africa pharmaceutical market report based on molecule type, product, type, disease, route of administration, formulation, age group, end-market, and country:

• Molecule Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Biologics & Biosimilars (Large Molecules)

• • • Monoclonal Antibodies
    • Vaccines
    • Cell & Gene Therapy
    • Others
  • Conventional Drugs (Small Molecules)
• Product Outlook (Revenue, USD Billion, 2018 - 2030)
• • Branded
  • Generics
• Type Outlook (Revenue, USD Billion, 2018 - 2030)
• • Prescription
  • OTC
• Disease Outlook (Revenue, USD Billion, 2018 - 2030)
• • Cardiovascular diseases
  • Cancer
  • Diabetes
  • Infectious diseases
  • Neurological disorders
  • Respiratory diseases
  • Autoimmune diseases
  • Mental health disorders
  • Gastrointestinal disorders
  • Women’s health diseases
  • Genetic and rare genetic diseases
  • Dermatological conditions
  • Obesity
  • Renal diseases
  • Liver conditions
  • Hematological disorders
  • Eye conditions
  • Infertility conditions
  • Endocrine disorders
  • Allergies
  • Others
• Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)
• • Oral
  • Topical
  • Parenteral
  • • Intravenous
    • Intramuscular
  • Inhalations
  • Other
• Formulation Outlook (Revenue, USD Billion, 2018 - 2030)
• • Tablets
  • Capsules
  • Injectable
  • Sprays
  • Suspensions
  • Powders
  • Other Formulations
• Age Group Outlook (Revenue, USD Billion, 2018 - 2030)
• • Children & Adolescents
  • Adults
  • Geriatric
• End Market Outlook (Revenue, USD Billion, 2018 - 2030)
• • Hospitals
  • Clinics
  • Others
• Country Outlook (Revenue, USD Billion, 2018 - 2030)
• • Africa
  • • South Africa
    • Nigeria
    • Namibia
    • Botswana