The Africa injectable drugs market has gained immense popularity over the past few years owing to the growing preference for self-administration of medication. Injectable drugs offer several advantages over oral drugs such as rapid onset of action, higher bioavailability, and targeted drug delivery. The rising incidence of chronic diseases such as cancer, diabetes, and cardiovascular diseases has augmented the demand for injectable medications in Africa. Furthermore, injectable drugs witness higher patient compliance as compared to oral drugs.
Africa injectable drugs market is estimated to be valued at US$ 284.5 Mn in 2022 and expected to exhibit a CAGR of 4.7% during the forecast period (2022-2030).
Key players operating in the Africa injectable drugs market are Apotex Inc., Fresenius Kabi India Pvt. Ltd., Hikma Pharmaceuticals PLC, Pfizer Inc., Bristol-Myers Squibb Company, Gland Pharma Limited, hameln pharma gmbh, Merck & Co., Inc., AbbVie Inc., Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, and PANPHARMA S.A.
Key Takeaways
Key opportunities
The rising aging population, growing per capita healthcare expenditure, and increasing incidence of chronic diseases present huge opportunities for players in the Africa injectable drugs market Demand.
Technological advancements
The emergence of novel drug delivery technologies such as prefilled syringes, auto-injectors, and pen injectors have enhanced patient convenience in self-administration of medication, thereby driving the demand for injectable drugs in Africa.
Market drivers
The increasing demand for generic injectables across the region and ongoing initiatives to boost healthcare access and affordability are some of the major drivers propelling the growth of the Africa injectable drugs market.
Current challenges in the Africa Injectable Drugs Market:
The Africa injectable drugs market faces various challenges currently such as lack of accessibility in rural areas, shortage of trained healthcare professionals, and strict regulatory norms. Majority of Africans live in rural areas where basic healthcare infrastructure is lacking. This limits the reach of injectable drugs which need trained staff for administration. There is also lack of healthcare workers across most African countries resulting in poor injection practices and infection control. Regulatory policies for approval of new injectable drugs are rigid which delays market entry of innovative products. Affordability is another challenge as injectable drugs have treatment costs higher than oral drugs restricting consumption in lower income African countries.
SWOT Analysis
Strength: Availability of generics and biosimilars providing affordable treatment options. Weakness: Reliance on drug imports makes market susceptible to price fluctuations. Opportunity: Growing cases of chronic diseases creates demand for therapeutic injectables. Threats: Dependence on foreign investments exposes market to global economic risks.
Geographical regions in Africa by market value:
The North African region accounts for the largest share of the Africa injectable drugs market in terms of value estimated at over 35% in 2023. Countries like Egypt, Morocco and Algeria have relatively better healthcare infrastructure and higher healthcare spends compared to Sub-Saharan Africa which drives their market size.
Fastest growing region:
The East Africa region is expected to witness the highest growth rate during the forecast period. This can be attributed to expanding medical tourism in countries like Kenya and growing public-private investments to strengthen healthcare systems. Increasing government focus on non-communicable diseases and rising income levels will further aid the growth of injectable drugs market in East Africa.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
