2012-06-29 23:27:45 - Gabon Pharmaceuticals and Healthcare Report Q3 2012 - a new market research report on companiesandmarkets.com

The price of this market report covers 4 quarterly reports on this sector. This quarterly report will be downloadable instantly as a PDF document, with the 3 remaining reports delivered at regular intervals throughout the year.Gabon´s pharmaceutical, medical device and healthcare markets are small in global terms but have an above-average stability compared to those in many of its neighbouring African countries. Expansion will be supported by high oil prices and a political regime that is increasing its commitment to healthcare. We expect French companies to outperform due to colonial ties.

Headline Expenditure Forecasts - Pharmaceuticals:

XAF63.7bn (US$135mn) in 2011 to XAF68.7bn (US$135mn) in 2012; +7.9% in local currency and +0.1% in US dollar terms. Forecast down slightly compared with Q212 in

 

 

local currency and US dollar terms due lower macroeconomic projections and an expected weakening of the Central African CFA franc.

- Healthcare:

XAF256bn (US$542mn) in 2011 to XAF285bn (US$560mn) in 2012; +11.4% in local currency and +3.4% in US dollar terms. Forecast down slightly compared with Q212 in local currency and US dollar terms due updated historic data and the forecast weakening of the franc.

- Medical Devices:

XAF11.1bn (US$24mn) in 2011 to XAF12.2bn (US$24mn) in 2012; +9.5% in local currency and +1.6% in US dollar terms. Forecast down slightly compared with Q212 in local currency and US dollar terms due to lower macroeconomic projections and an expected weakening of the franc. Risk/Reward Rating:

In the 30-country Middle East Africa (MEA) region, Gabon is a slightly belowaverage proposition to multinational drugmakers, scoring 41.5 out of 100 in BMI´s proprietary Pharmaceutical Risk/Reward Ratings (RRRs) system for Q312. This score is unchanged from the previous quarter. Gabon scores well above the regional average for country rewards but it is let down by its industry rewards, industry risks and country risks indicators.

Key Trends And Developments

- In April 2012, the World Bank´s board of executive directors discussed a new four year (2012- 2016) Country Partnership Strategy (CPS) for Gabon, focusing on adopting the transformational changes and reforms the country needs to lay the foundations for job creation and long-term economic growth. One of the six key areas to be improved under the CPS was the country´s social safety net and health system. This analysis could therefore be commercially significant for drugmakers and medical device companies.

- Also in April, a researcher from the Albert Schweitzer Hospital in Lambaréné, Gabon, said local clinical trials of a malaria vaccine were positive and this could lead to it being approved for sale. The RTS,S/AS01E vaccine, which is being developed by GlaxoSmithKline (GSK), achieved 56% protection from malaria and 46% protection from severe malaria. The researcher said malaria is Gabon´s main public health problem.
BMI Economic View

Gabon will experience real GDP growth of 3.0% in 2012, a fall from 5.7% in 2011. Growth was boosted in 2011 by US$500mn in government investments leading up to 2012 Africa Cup of Nations (CAN) football tournament in January and February, which it co-hosted with Equatorial Guinea, and is being slowed this year by tighter fiscal policy. We forecast growth to slip further to 1.7% in 2013 as oil production continues to decline. Gabon´s medium- and long-term future is dependent on the ability of the government´s Emerging Gabon plan to develop the non-oil industries. If the government cannot broaden the economic base away from oil, which accounts for almost 80% of exports, the economic situation will be increasingly grim.

BMI Political View

Policy continuity is assured after a crushing victory for the governing party in Gabon´s December 2011 legislative election. The results, confirmed by the constitutional court in February 2012, gave President Ali Ben Bongo Ondimba´s Parti Démocratique Gabonais 115 of the 120 seats in the national assembly. However, an opposition boycott of the election cast doubt over the system´s political legitimacy

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