That growth is continuing at a rapid pace and it is predicted that the market will be worth $40 billion to $65 billion by 2020. The pharmaceutical industry has been around for millennia, but it’s only within the last century that we’ve been able to understand and treat the majority of health ailments. Although a greater variety of products is available in the private sector, the public health sector consumes the largest volume of pharmaceuticals. A groundswell of support for developing the local pharmaceutical industry. The Africa Pharma Conference 2019 will focus on access to medicines and health commodities. To the advantage of the industry, there is a culture of information sharing within the industry and an environment of collaboration on competitive issues (CI) exist in the companies. What is clear from the image above is the fact that the wage rate inflation growth in South Africa's manufacturing industry has been declining significantly over the last couple of years, and at its current year on year rate of 5.4% it is at least still higher than the consumer price index (CPI) inflation which came in at 4% for the period ending December 2019. The value of Africa’s pharmaceutical industry jumped to $20.8 billion in 2013 from just $4.7 billion a decade earlier. That’s good news for multinationals and pharmaceutical companies seeking new sources of growth as developed markets stagnate. The series of events and sessions will highlight the progress, achievements, and challenges faced by African governments in developing the Pharmaceutical sector and discuss best practises to catalyse local production. South Africa’s pharmaceutical industry does more than provide health-promoting medicines to South Africans. That growth is continuing at a rapid pace: we predict the market will be worth $40 billion to $65 billion by 2020 (exhibit). A report “ The Pharmaceutical Industry in South Africa 2017 ” highlights some of the developments in the South African manufacturing and retail sectors during 2016 and 2017. South Africa as an example. South Africa Pharmaceutical Industry Report 2019 DUBLIN, June 6, 2019 /PRNewswire/ -- The "The Pharmaceutical Industry in South Africa 2019" report has been added to … We take a look at a few highlights/low lights of South Africa's mining industry as published by Statistics South Africa Exactly a week after delegates closed the 26 th Investing in African Mining Indaba, Stats SA released data on the performance of the mining industry in 2019. A new field opened up in the pharmaceutical industry when the South African Health Products Regulatory Authority (SAHPRA) gave the go-ahead for the production of a biosimilar drug in July 2018, the first time this has been allowed in South Africa. Foresight Africa 2019 highlights the triumphs of the past years as well as strategies from our experts to tackle the remaining obstacles. Pharmaceuticals in South Africa Summary Pharmaceuticals in South Africa industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value 2015-19, and forecast to 2024). The Dti provided a broad profile of the industry and indicated that the pharmaceutical market in South Africa was valued at approximately R45 billion in 2015. It also makes a substantial contribution to the region by investing in local healthcare and ensuring continued access to new medicines. In 2015 the South African pharmaceutical total market value was estimated at $3.3 billion. This is a reason why these pharmaceutical manufacturing companies in South Africa work tirelessly to come up with the best medications that can help cure some of … Adcock is a proudly South African pharmaceutical manufacturing company that produce, distribute and market a variety of products in the healthcare industry. PSSA supports and promotes the profession of pharmacy in improving medication use and advancing patient care. Local producers also play in a limited range of the value chain. Currently the South African pharmaceutical industry is being affected by legislation, as the government is readjusting the whole healthcare system to make it cost-effective and 16. equitable. Industry Insights: South Africa Healthcare Market Overview. The profit margins are high, there are a large number of small and large sized player, and strict government regulations make it a very competitive industry. Africa is the only pharmaceutical market where genuinely high growth is still achievable, value of Africa’s pharmaceutical industry jumped to USD 28.56 billion in 2017 from just USD 5.5 billion a decade earlier. “This presents infinite opportunities for investors to access multiple markets in Africa,” said Magwanishe. The country spent 9% of its GDP on healthcare in 2017, which is 4% higher than the WHO’s recommended spending for a country of its socioeconomic status. The pharmaceutical industry is one of the most competitive industries in the world. Algeria, Egypt, Kenya, Côte d’Ivoire, Libya, Morocco, Nigeria, South Africa, Sudan, Tunisia. South Africa has the largest economy in Africa and is the most developed in sub-Saharan Africa. By 2019, the South African exports of pharmaceutical products will increase to approximately $526 million. Pharmaceutical Society of South Africa. The National Association of Pharmaceutical Manufacturers (NAPM) has re-branded as Generic and Biosimilar Medicines of Southern Africa. MRA Regulatory Consultants was established in 2003 to provide expert regulatory advisory services and regulatory support services to the pharmaceutical industry. > South Africa’s pharmaceutical and medical device sectors are the largest and most advanced in sub-Saharan Africa. The private sector accounted for 84% of the market, and the public sector for the rest. The industry faces the challenge of expanding access to and affordability of drugs, on the one hand and growing South Africa’s drug manufacturing capacity on the other. South Africa currently runs a two-tiered healthcare system, comprising of the public and the smaller, rapidly -growing private sector. However, in the current challenging economy, building on this positive change and delivering greater results for consumers is becoming ever more challenging. The pharmaceutical industry provides the vital service of providing medication to the South African population and was valued at between R42.6bn and R45bn in 2016. While the pharmaceutical industry is extremely profitable for those involved, it’s future outlook is mixed. The Pharmaceutical Industry in South Africa: The pharmaceutical sector is dominated by multinational pharmaceutical companies. Over the years, PharmaConnect Africa has been considered a credible forum where roleplayers in Africa pharma can meet and network. Est 2015 About PharmaConnect Africa The inaugural PharmaConnect Africa Conference and Expo were held on the 29th and 30th of March 2017. Dublin, April 29, 2019 (GLOBE NEWSWIRE) -- The "The Pharmaceutical Industry in South Africa 2019" report has been added to ResearchAndMarkets.com's offering.. The South African pharmaceutical manufacturing industry in the late 19 90s was well developed and, while operating within a relati vely protected environ ment, it had become the Pharmaceutical and medical device sales have more than doubled in the last 10 years and are expected to reach R48bn and R19bn, respectively 12% in 2019. April 29, 2019 GMT DUBLIN--(BUSINESS WIRE)--Apr 29, 2019--The “The Pharmaceutical Industry in South Africa 2019” report has been added to ResearchAndMarkets.com’s offering. > Pharmaceutical and medical device imports The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. There is no room for making errors. Our conferences have included official representation from regulators (e.g. This report on the pharmaceutical industry describes the industry, its size, new … We enjoy a clear understanding of the regulatory environment in South Africa, its history, trends, current requirements and policies. According to the Pharmaceutical Industry in South Africa 2017 report of research and markets, the pharmaceutical industry provides the vital service of providing medication to the South African population and was valued at between R 42.6bn (€ 2,72bn) and R 45bn in 2016. South Africa. That’s good news for multinationals and pharmaceutical companies seeking new sources of growth as developed markets stagnate. We aim to be the undisputed leader and guardian of the pharmacy profession. That growth is continuing at a rapid pace: we predict the market will be worth USD 56 billion to USD 70 billion by 2030. According to her, as much as 16 million jobs is possible through public-private partnerships and collaboration in the industry. In addition, pharmaceutical companies stimulate the local economy through employment, taxes, skills development and technology transfer. South Africa’s pharmaceutical industry employs pharmacists in a wide range of positions such as production, regulatory affairs, quality assurance, responsible pharmacists, etc. The level of production was 1,3% lower in 2019 than 2018, which in turn was 2,1% lower than 2017. Most of the players in the industry have been here for a long time and are well recognized globally. Local manufacturing, valued at R 4.9bn in 2015, is dominated by local companies. As early as in 2005, a World Bank study had identified that Africa, South Africa, Kenya, Nigeria, and Zimbabwe have the industrial capacity that can be made available to produce medicines for export or for domestic consumption in the face of the diminishing supply of generic medicines from the major producers. The value of Africa’s pharmaceutical industry jumped to $20.8 billion in 2013 from just $4.7 billion a decade earlier. Involved in the sector are 276 companies licensed by the Department of Health and the Medical Controls Council. Ghana FDA, East Africa Community (EAC) … In sub-Saharan Africa, only Kenya, Nigeria, and South Africa have a relatively sizable industry, with dozens of companies that produce for their local markets and, in some cases, for export to neighboring countries. 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