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Ghana Pharmaceuticals & Healthcare Report Q1 2014 - New Market Research Report

New Healthcare market report from Business Monitor International: "Ghana Pharmaceuticals & Healthcare Report Q1 2014" 2014-03-18 14:59:36
Late 2013 saw Ghana mark the 10th anniversary of the creation of its national health insurance scheme (NHIS). While there are considerable variations in the claims made as to the number of people covered by the scheme (with government and non-government figures at either ends of the scale), there is no doubt that the scheme has had a degree of success. Not-for-profit Oxfam estimated in late 2013 that around 36% of the population has healthcare cover, thanks to the NHIS, but out of pocket payments for the rest (and invariably, poorer) segment of the population remain commonplace. Ghana is well placed in the continent to act as a regional drug production point, but in order to strengthen its reputation, it must first crack down on counterfeit and substandard drugs. A batch of allegedly substandard anti-malarial drugs from Indian manufacturer Bliss GVS Pharma is a particularly prominent recent example of this. Ghana's pharmaceutical and healthcare market has strong growth prospects, and over the course of our 10-year forecast period, we expect that non-communicable disease will place an increasing burden on the healthcare system.

Full Report Details at
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Headline Expenditure Projections

Pharmaceuticals: GHC568mn (US$316mn) in 2012 to GHC708mn (US$346mn) in 2013; +21.0% in local currency terms and +9.3% in US dollar terms. Forecast upwardly revised from Q413.

Healthcare: GHC3.32bn (US$1.79bn) in 2012 to GHC3.77bn (US$1.84bn) in 2013; +13.6% in local currency terms and +2.7% in US dollar terms. Forecast braodly similar to Q413.

Risk/Reward Ratings: Ghana's Pharmaceutical Risk/Reward Rating (RRR) score for Q114 is 38.0, making it the 20th most attractive market in the Middle East and African region.

Key Trends And Developments

Counterfeit drugs made the headlines in October 2013 when the Ghanaian Food and Drug Authority decided to ban the importation and distribution of all pharmaceutical products manufactured by India's Bliss GVS Pharma, following the discovery that Bliss's unregistered anti-malarial medicine had been sold in Ghana.

A report by Oxfam, 'Financing Universal Healthcare' cited Ghanaian government statistics that 9mn people, or 36% of the total population, were covered by Ghana's mandatory insurance scheme in September 2013. Oxfam has warned that government' health insurance schemes are often used by the better off, leaving the majority of people without cover and forced to pay for healthcare out of pocket.

The Minister of Health inaugurated a 10-member team charged with researching herbal medicine in November 2013, a move that not only recognises the role herbal medicines have to play, but also should lead to tighter regulation concerning their usage.

BMI Economic View: We forecast that real GDP growth will stand at 6.4% in 2014 and 7.2% in 2015. The oil and gas, infrastructure and retail sectors will help contribute to growth, but key concerns remain, such as power outages and low commodity prices.

BMI Political View: Corruption continues to cast a shadow over Ghana's political scene, with citizens perceiving a high level of government bribery. The general perception is that the government is not doing enough to quash corruption.

Report Table of Contents:

The table of contents for this report is available upon request.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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Published by
Bill Thompson

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