Piribo, the online destination for business intelligence for the biotech and pharmaceutical industry, has now added a new report which finds that despite regulatory upheavals, South Africa remains one of the most promising pharma markets in Africa.
“South Africa Pharmaceuticals and Healthcare Report Q3 2008” which is available at http://www.piribo.com/
Additionally, the South African Healthcare Charter sets out guidelines for Black Economic Empowerment which affects the business environment in the country.
The report estimates that the market was worth US$3.03bn in 2007 and that it should reach US$4.41bn by 2012. It finds that the drug market is expected to continue to grow ahead of inflation despite controls limiting pharmaceutical price rises, which indicates that there will be significant volume growth in the market.
Authors of the report say that South Africa remains in third position out of 13 countries surveyed in the Middle East & Africa due to its large market and strong growth prospects. They highlight that South Africa's score is held back by a slow approvals process citing that within the present system it can take 24-36 months to register a pharmaceutical. The study also notes that the proposed regulatory overhaul aims to cut this to 12 months for a new chemical entity.
“South Africa Pharmaceuticals and Healthcare Report Q3 2008” is available in pdf format from Piribo.
For more information, go to:
http://www.piribo.com/
Piribo product ID: BMI118
