According to our latest research report “South African Healthcare Market Analysis”, the pharmaceutical sector of South Africa has been growing at a fast pace for the past few years and is expected to continue this pace in future as well. This growth can be attributed to various supporting factors, like continuously increasing demand for drugs stemmed in the rising population of the country. Besides, the country has a high prevalence of communicable diseases, such as Malaria and HIV/AIDS, making it an attractive location for multinational pharma companies also.
As the country is largely dependent on the pharma imports to meet its domestic demand, there is ample scope for growth of local companies and investments by the foreign companies. The promising pharma sector is expected to grow at a CAGR of around 15.5% during 2011-2013, thus, propelling the growth of the healthcare industry.
The pharma sector and the healthcare industry as a whole will receive ample regulatory support from the government, which is looking to improve the self-dependency of the country in this case. The government is offering a favorable environment for the foreign companies to set up their base in the country, thus helping in lowering of the healthcare costs along with the domestic companies. Besides, the government is proactively pursuing the issue of lack of healthcare professionals in South Africa, especially in the rural areas. In terms of affordability, the government expects that the National Health Insurance scheme will help out the financially unfortunate people in getting all the possible health facilities.
Besides, our report “South African Healthcare Market Analysis” provides a detail and prudent analysis of all the major sectors of the healthcare industry to understand the future prospects of the market. The report is based on reliable statistics and provides an exhaustive overview of the major industries, segment-wise break up, disease-wise thorough analysis, and information on major emerging segments to provide strategic insight into the market. Additionally, our report has thoroughly examined current market trends; industrial developments, and competitive landscape to enable clients understand the market structure and its progress in coming years.
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Article By: Shushmul Maheshwari