The pharmaceutical industry, followed closely by healthcare information technology (IT), in Africa is predicted to experience substantial growth in 2016. A host of factors are anticipated to have a positive effect on the African healthcare industry.
Increased investment in both the pharmaceutical and healthcare IT sectors will see local business flourish in South Africa, Kenya, Ethiopia and other emerging economies.
A host of factors are anticipated to have a positive effect on the African healthcare industry. These include a rising middle class, introduction of local manufacturers, and support from national governments. Handheld medical devices, mobile health (mHealth), micro health insurance, and in-country manufacture of drugs will also gain momentum, resulting in vast improvements to client care delivery models.
New analysis from Frost & Sullivan, 2016 Africa Healthcare Industry Outlook, finds that the global shift towards value-based healthcare is improving the provision of health in Africa. The study details forecasts for 2016 in therapeutics, medical products and healthcare IT, and will assist stakeholders within industry to design solutions and strategies that efficiently meet the demands of the market.
“Despite the poor economic status of African countries, there is a collective drive to reduce and eliminate the incidence of life threatening diseases in Africa,” notes Aditi Bhalla, Frost & Sullivan Industry Analyst for Global Transformational Health. “Key enablers for this drive will include eHealth technologies, like mHealth and point-of-care testing (POCT). MHealth and video telemedicine solutions are already being used to streamline patients’ data, while innovative, easy-to-use POC and home diagnostic solutions assist with accelerating access to care.”
Furthermore, low-cost pharmaceutical drugs and equipment will be specifically designed for Africa and will substitute traditional, costly options. In-country production of drugs will increase, with prominent industry manufacturers and brands entering the market, leveraging joint ventures with governing bodies, and assisting in skills training of community healthcare workers for improved healthcare solutions.
“With Mega Trends analyses indicating that Africa is the only continent with the potential to achieve double-digit economic growth within the next decade, healthcare vendors, providers and regulatory bodies will do well to synchronise their services for transforming health in Africa,” said Bhalla. “The preference for private healthcare solutions, primarily due to the increasing per capita income in sub-Saharan Africa, makes it essential for private vendors and providers to keep abreast of the changes in the industry.”
To address these needs, Frost & Sullivan’s Global Transformational Health team has created a common platform for healthcare industry stakeholders to access relevant information and strategize for a profitable future. The research, titled 2016 Africa Healthcare Industry Outlook, is part of the Advanced Medical Technologies Growth Partnership Service program.The study outlines the current state-of-affairs of the healthcare industry in Africa while offering detailed forecasts for various industry segments including pharmaceuticals, medical devices, patient monitoring, medical imaging equipment, in vitro diagnostics (IVD), and healthcare IT.
Recent studies offered under the same subscription include: Market Opportunity for Knee and Hip Replacement Products in East Africa, Healthcare System Development in Tanzania & Ethiopia, The Transformation of the American Hospital: 2015-2020, Analysis of the US and Western European Atrial Fibrillation Market, 2016 Global Outlook for the Healthcare Industry, Analysis of the U.S. Breast Imaging Systems Market, The North American Patient Handling Systems Market, Development of Value-based Imaging, and Artificial Intelligence in Healthcare, among others. All studies provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.