AFRICA INJECTABLE DRUGS MARKET ANALYSIS

Injectable pharmaceutical drug delivery system can be used as an alternative to oral drug delivery system. An injection is considered a form of parenteral drug administration, and it allows the medication to be absorbed more rapidly.

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).

Figure 1. Africa Injectable Drugs Market Share (%) in Terms of Value, by Molecule Type, 2022

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The increasing prevalence of chronic diseases such as cardiovascular, diabetes, cancer, etc. is expected to drive the market growth during the forecast period.

Sedentary lifestyle and changes in dietary habits i.e. the consumption of fats and sugar-rich diet lead to an increase in cases of obesity and thereby increase the risk of cardiovascular diseases and diabetes. For instance, according to the International Diabetes Federation, in 2019, an estimated 19.4 million adults aged 20-79 years were living with diabetes in Africa.

Figure 2. Africa Injectable Drugs Market Share (%), by End User, 2022

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Growing manufacturing facilities for pharmaceutical drugs are expected to drive the market growth during the forecast period.

The ever-growing number of healthcare practitioners leads to a surge in the demand for injectable drugs. For instance, in Africa estimated there were about 266,279 doctors in 2020. Thus, key market players are engaged in enhancing their manufacturing capabilities and strengthening their position in the market, which will drive the market growth. For instance, in sub-Saharan Africa, only Kenya, Nigeria, and South Africa have a relatively considerable industry with a significant number of manufacturing companies. Moreover, initiatives by governments and market players to develop a local drug industry in sub-Saharan Africa is expected to create a significant opportunity for the market players.

Africa Injectable Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

The COVID-19 can affect the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets.

Africa Injectable Drugs Market: Restraint

The major factors that hinder the growth of Africa injectable drugs market include the lack of funding for manufacturing injectable products. Lack of finances can also be a significant challenge to manufacturing injectable pharmaceuticals.

Key Players

Major players operating in Africa injectable drugs market include 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.