Zambia Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-18 03:27:02
Several events in recent months illustrate growing interest in the potential of Zambia´s healthcare and pharmaceuticals market. Barclays and GlaxoSmithKline announced that they will invest in the development of improved medicine supply chains, a pilot health insurance project and the creation of small health outlets; Novartis is collaborating in a campaign to reduce the impact of malaria in the country; and the government has also revealed progress made in the creation of a social health insurance plan for people in formal employment.
These are all positive first steps, as are other moves such as plans to construct around 650 health outposts across the country. Zambia´s healthcare market continues to create concerns, however. A lack of domestic manufacturing facilities means that the government has to turn to expensive imports, and there are also gaps in the supply chain, meaning counterfeit drugs can penetrate the market. The issue of public finances also creates concerns.
In its 2014 budget, the government has promised to commit 9.9% of funding to healthcare. As not-for-profit groups have pointed out, this falls short of the pledge to allocate 15% of total spending to healthcare made as part of the Abuja Declaration in Nigeria during 2011.
Headline Expenditure Projections
- Pharmaceuticals: ZMK1,001.9bn (US$197mn) in 2012 to ZMK1,121.4bn (US$207mn) in 2013; +11.9% in local currency terms and +6.3% in US dollar terms. Forecast broadly in line with Q413.
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