In evidence

Compound annual growth rate (CAGR) forecasts for 2019-2021 for the pharmaceutical industry across a number of African countries

12nd July 2019

According to the recent Pharmintech Monitor study conducted by the UCIMA Research Department/MECS for pharmaceutical market growth prospects across a number of African countries in the period 2019-2021, the expected growth is higher than the world average of +3.6% in Kenya, Ghana, Morocco and Uganda and exactly equal to the world average in Tanzania.

The prospects for the pharmaceutical packaging machinery sector are clearly hampered by the fact that African countries have the world’s lowest level of local drug production. With just a few exceptions, demand for drugs is mainly met by imports rather than domestic production.

The result is a low level of investments in plant and machinery, both for the production process and for packaging. However, the growth in manufacturing self-sufficiency on the part of the African pharmaceutical industry will boost imports of packaging plant and machinery, especially from Italy which will see a strong increase in its market share.

The forecasts for the packaging machinery market produced by the Ucima Research Department/MECS based on its CUBO forecasting model point to an annual average growth of 3.0% in Africa and Oceania for the next two years compared to global growth in the pharmaceutical packaging machinery market of 4.8%. However, the expected growth in exports of Italian pharmaceutical packaging machinery to Africa and Oceania is substantially higher (+6%), with particularly significant growth in exports to Algeria (+7.8%), Nigeria (+6.9%) and Kenya (+8.3%).

 

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