Emerging Pharmaceutical Market in South Africa - Proposed Introduction of New Drug Regulatory Agency (SAHPRA) to Accelerate Drug Registrati... (its rapid growth are the availability of...)

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Emerging Pharmaceutical Market in South Africa - Proposed Introduction of New Drug Regulatory Agency (SAHPRA) to Accelerate Drug Registration Process

Date:2/7/2013

its rapid growth are the availability of cost-effective and skilled labor, high quality infrastructure, and the introduction of the South African Health Products Regulatory Authority (SAHPRA). Most of the local drug manufacturers and distributors are in the hands of big international pharmaceutical firms. GBI Research valued the South African pharmaceutical market at $3.8 billion in 2011, and expects it to reach $7 billion in 2018 at a Compound Annual Growth Rate (CAGR) of 9.2%. South Africa's healthcare sector is set to witness a number of new healthcare reform plans in the future, with the primary objective being to reduce the growing drug expenditure by increasing the use of generics. The healthcare system aims to cover the entire population under the National Health Insurance (NHI) scheme, which it will start implementing in a small population of 10 districts by 2012.

GBI Research's analysis shows that generics accounted for over 60% of the volume of the pharmaceutical market in 2011. Government reforms have encouraged the manufacture and use of generic drugs as a tool to limit drug expenditure and provide low-cost effective public healthcare. The combination of government healthcare policies and numerous active generic manufacturing companies points to an increased generic market share in the forecast period.

Scope - Overall pharmaceutical and outsourcing market structure in South Africa

- Market characterization, including market size, major regulatory bodies, pricing and reimbursement issues, major distribution channels, and intellectual property rights

- Contract Research Organization (CRO) market growth

- Analysis of the leading segments within the South African pharmaceutical industry

- Key drivers and restraints impacting the market

- Competitive benchmarking of leading companies in the pharmaceutical and CRO markets in South Africa'/>"/>

SOURCE Reportlinker
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