The Pharmaceutical Market: Namibia - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-13 15:04:02
Namibia has many of the qualities exhibited by frontier pharmaceutical markets: very low per capita spending on medicines, limited access to healthcare facilities, a high prevalence of communicable diseases and constrained ability to pay for advanced therapeutics. Nevertheless, due to low growth rates in developed states, multinational drugmakers are increasingly displaying interest, albeit tentatively, in Namibia.
Headline Expenditure Forecasts
Pharmaceuticals:NAD1.98bn (US$273mn) in 2011 to NAD2.19bn (US$268mn) in 2012; +11.0% in local currency and -1.7% in US dollar terms. Forecast slightly down in local currency terms and US dollar terms due to macroeconomic factors and Namibian dollar weakness, respectively.
Healthcare:NAD5.53bn (US$761mn) in 2011 to NAD5.94bn (US$725mn) in 2012; +7.4% in local currency and -4.8% in US dollar terms. Forecast slightly down in local currency terms and US dollar terms due to macroeconomic factors and Namibian dollar weakness, respectively.
Medical Devices: NAD0.62bn (US$85mn) in 2011 to NAD0.69bn (US$84mn) in 2012; +11.0% in local currency terms and -1.7% in US dollar terms. Forecast slightly down in local currency terms and US dollar terms due to macroeconomic factors and Namibian dollar weakness, respectively.
Within the Middle East and Africa region, Namibia represents a moderately attractive proposition to foreign drugmakers, scoring 44.8 out of 100 in BMI´s proprietary rankings system. This is just above the regional average of 44.2. Although the market is small in absolute terms, there is relative economic and political stability, and the government is increasing its commitment to the provision of healthcare.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
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