South Africa Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape
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South Africa Healthcare Market Report Overview
The South African pharmaceutical market size was valued at $4.6 billion in 2021. The market is projected to grow at a CAGR of more than 4% during the forecast period (2022-2027). The key factors driving the pharmaceutical market growth in South Africa are the growing and aging population, surging prevalence of chronic diseases, and expanding private health insurance coverage The South Africa pharmaceutical market research report highlights the increased patient volumes for general practitioners and specialist medical practitioners as another key factor accelerating the market’s growth. The pharmaceutical market of the country is extensively reliant on imported products, accounting for more than two-thirds of pharmaceutical sales.
South Africa Healthcare Pharmaceutical Market Outlook 2021-2027 ($ Billion)
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| Market size 2021 | $4.6 billion |
| CAGR (2022-2027) | >4% |
| Forecast period | 2022-2027 |
| Key segments | · Generics
· Biologics · Biosimilars · Over-The-Counter (OTC) |
| Major players | · Pfizer
· F. Hoffmann-La Roche Ltd. (Roche) · Novartis · Sanofi · Aspen Pharmacare Holdings Ltd (Aspen) |
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The South Africa medical devices market size was valued at $3.6 billion in 2021. The market is expected to grow at a CAGR of more than 4% during the forecast period (2022-2027). In South Africa, increased government spending to upgrade public health facilities and systems as part of their NHI implementation program may catalyze market growth.
South Africa Healthcare Medical Devices Market Outlook 2021-2027 ($ Billion)
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| Market size 2021 | $3.6 billion |
| CAGR (2022-2027) | >4% |
| Forecast period | 2022-2027 |
| Key segments | · Hospital Supplies
· General Energy · Orthopedic Devices · Cardiovascular Devices · Dental Devices |
| Major players | · Abbott
· Medtronic · Kimberly-Clark · GE Healthcare · Getinge AB (Getinge) |
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South Africa Pharmaceutical Market Dynamics
In December 2021, South Africa’s Biovac Institute, a biopharmaceutical company based in Cape Town, announced plans to manufacture Pfizer-BioNTech’s COVID-19 vaccine for distribution within the African region. As per the agreement between the two, Biovac will perform manufacturing and distribution activities within Pfizer’s and BioNTech’s global COVID-19 vaccine supply chain and manufacturing network. Manufacturing is expected to commence in 2022.
In November 2021, Novelty Technology Care (NTC), an R&D-driven pharmaceutical company headquartered in Italy, and Aspen, headquartered in South Africa, announced SAHPRA’s approval for the first fixed combination of an ophthalmic quinolone antibiotic (levofloxacin) with an anti-inflammatory steroid (dexamethasone) eye drop solution.
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South Africa Pharmaceutical Market Segments
The key segments in the South Africa pharmaceutical market are generics, biologics, biosimilars, and over-the-counter (OTC).
Generic Drugs: South Africa’s generics market is currently booming with the patent expiration of several high-volume drugs for leading therapy areas (particularly statins) soon. Spending on generic drugs is driving the growth in the leading pharmerging markets like South Africa. In total, 165 generics were approved in 2020 in South Africa.
Key Segments in the South Africa Pharmaceutical Market
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South Africa Pharmaceutical Market – Competitive Landscape
The key players in the South Africa pharmaceutical market are:
- Pfizer
- Hoffmann-La Roche Ltd. (Roche)
- Novartis
- Sanofi
- Aspen Pharmacare Holdings Ltd (Aspen)
Pfizer
Pfizer is a research-based global biopharmaceutical company that discovers, develops, manufactures, and commercializes drugs for various conditions, consumer healthcare products, generics, and active pharmaceutical ingredients (APIs). Pfizer is headquartered in the US. In South Africa, it operates from Johannesburg.
Leading Companies in the South Africa Pharmaceutical Market
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South Africa Medical Devices Market Segments
The key segments in the South Africa medical devices market are hospital supplies, general energy, orthopedic devices, cardiovascular devices, dental devices, and others. The hospital supplies garnered the highest South Africa medical devices market revenue share in 2021.
South Africa Medical Devices Market Analysis by Segments, 2021 (%)
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South Africa Medical Devices Market – Competitive Landscape
The key players in the South Africa medical devices market are:
- Abbott
- Medtronic
- Kimberly-Clark
- GE Healthcare
- Getinge AB (Getinge)
In 2021, Abbott was the leading medical device market player in South Africa. Abbott is a diversified health product company that manufactures and markets drugs, diagnostics, branded generics, vascular products, and nutritional products. The company’s products comprise specialized medicines; medical diagnostic instruments and tests; minimally invasive surgical devices; and products for veterinary care. In South Africa, it operates from Cape Town.
South Africa Medical Devices Market Analysis by Companies, 2021 (%)
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Scope
The report provides information on the healthcare, regulatory, and reimbursement landscape in South Africa, and includes:
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Pfizer, Roche, Novartis, Sanofi, and Aspen
- Profiles and SWOT analyses of the major players in the medical device market: Abbott, Medtronic, Kimberly Clark, GE healthcare, and Getinge.
- An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, Healthtech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices.
- Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
- An overview of the opportunities for and challenges to growth in South Africa’s healthcare market.
Reasons to Buy
- This report will enhance your decision-making capability by allowing you to:
- Develop business strategies by understanding the trends shaping and driving the South African healthcare market.
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact the South African healthcare market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance.
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership.
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Frequently asked questions
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• Which was the leading segment in the South Africa medical devices market in 2021?
Hospital supplies was the leading segment in the South Africa medical devices market in 2021.
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What was the South Africa pharmaceutical market size in the year 2021?
The pharmaceutical market size in South Africa was $4.6 billion in the year 2021.
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What is the South Africa pharmaceutical market growth rate?
The pharmaceutical market in South Africa is expected to increase at a CAGR of more than 4% during the forecast period.
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What are the key segments in the South Africa pharmaceutical market?
The key segments in the South Africa pharmaceutical market are generics, biologics, biosimilars, and over-the-counter (OTC).
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Who are the key players in the South Africa pharmaceutical market?
The key players in the South Africa pharmaceutical market are Pfizer, F. Hoffmann-La Roche Ltd. (Roche), Novartis, Sanofi, and Aspen Pharmacare Holdings Ltd (Aspen).
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What was the South Africa medical devices market size in the year 2021?
The medical devices market size in South Africa was $3.6 billion in the year 2021.
-
What is the South Africa medical devices market growth rate?
The medical devices market in South Africa is expected to increase at a CAGR of more than 4% during the forecast period.
-
Which are the key segments in the South Africa medical devices market?
The key segments in the South Africa medical devices market are hospital supplies, general energy, orthopedic devices, cardiovascular devices, dental devices, and others.
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Which are the major players in the South Africa medical devices market?
The major players in the South African medical devices market are Abbott, Medtronic, Kimberly-Clark, GE Healthcare, Getinge AB (Getinge)
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