2014-02-12 11:30:06 - South Africa Pharmaceuticals and Healthcare Report Q3 2013 - a new market research report on companiesandmarkets.com
South Africa is the best investment opportunity for multinational drugmakers seeking to enter the African market. The country currently boasts the largest medicines market on the continent by value, with a double-digit increase in expenditure expected in the medium and long terms. However, we caution there are downside risks to our bullish outlook. These stem from increasing government pressure to contain costs in the relatively small private sector (currently a gold mine for drugmakers); and long, inefficient approval times - years in some cases - which will remain the biggest deterrent to investment in the sector.
Headline Expenditure Projections
- Pharmaceuticals: ZAR30.45bn (US$3.84bn) in 2012 to ZAR33.86bn (US$3.61bn) in 2013; +11.2% in local currency terms and -6.0 % in US dollar terms.
US dollar forecast lower than Q213 based on revisions to ZAR/$US exchange rate estimations.
- Healthcare: ZAR271.40bn (US$33.07bn) in 2012 to ZAR295.50bn (US$31.51bn) in 2013; +8.9% in local currency terms and -4.7% in US dollar terms. US dollar forecast lower than Q213 based on revisions to ZAR/$US exchange rate estimations.
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