Market Report, "Ghana Pharmaceuticals & Healthcare Report Q2 2011", published

April 7, 2011 - PRLog -- In the latest edition of our proprietary Pharmaceuticals & Healthcare Business Environment Ratings (BERs) for the 19 markets BMI surveys in the Middle East and Africa (MEA) region, Ghana ranks 15th. The country's scores are broadly similar on the rewards and the risks sides, with longer-term rewards provided by rising population numbers and the prevalent disease burden, as well as by expected improvements in the country's regulatory environment.

Moreover, the country is seen as increasingly attractive investment prospect. Shortly after the announcement that Chinese and Egyptian firms are to build a total of ten new hospitals in Ghana, the Ghanaian government signed an agreement with Czech Republic-based company OPUS 7 to provide two air ambulances, 50 mobile clinics, 10 educative mobile units and 200 ambulance cars as well as constructing 12 district hospitals and technical training institutions across Ghana, according to a statement given by the country's Deputy Minister of Information James Agyenim-Boateng. He added that the agreement signifies the government's efforts to improve health infrastructure.

Indeed, the ruling National Democratic Congress party is living up to its social democratic roots by spending. The November 2010 budget emphasised 'human development' as part of the government's medium-term development strategy, the Ghana Shared Growth and Development Agenda. Specifically, this entails spending on health and education as well as living conditions. We also maintain our upbeat outlook for real GDP growth in Ghana and forecast a 14.0% expansion in 2011, although downside risks are posed by inflation and external debt levels.

While oil revenues are expected to massively increase GDP from 2011 onwards, BMI expects the distribution of income to bring about only modest rises in per-capita expenditure, including spending on essentials like pharmaceuticals. In fact, the proportion of GDP dedicated to pharmaceutical spending is expected to decline from 1.18% in 2010 to 0.65% by 2015, reflecting our cautious view that increased oil revenues may not result in proportional spending increases. Through to 2020, this figure will fall further, to 0.48%, though still translating into considerably higher per-capita spending of US$56.1.

Overall pharmaceutical spending in Ghana, worth some GHS510mn (US$357mn) at consumer prices in 2010, is expected to rise at a compound annual growth rate (CAGR) of 10.5% in local currency terms to reach GHS842mn (US$834mn) by 2015, equating to a US dollar CAGR of 18.5% as the local tender appreciates. In the same period, per-capita spending on medicines will double, increasing from US$14.6 to US$31.3, although this remains modest by global standards. Pharmaceutical sales will be in part be driven by the continued expansion and participation of the government-subsidised National Health Insurance Scheme (NHIS), although the funding for the programme has been under scrutiny in recent months.

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Partial Table of Contents:

SWOT Analysis
- Ghana Pharmaceutical and healthcare SWOT
- Ghana Political SWOT
- Ghana Economic SWOT
- Ghana Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Middle East And Africa (MEA) - Regional Pharmaceutical Business Environment Ratings, Q211
- Rewards
- Risks
Ghana - Market Summary
Regulatory Regime
- Intellectual Property Regime
- Counterfeit Medicines
- Table: mPedigree's Activities In Ghana - Low-Cost Detection And Interception Technology
- Pricing And Reimbursement Regimes
- Rational Drug Prescribing
Industry Developments
- Epidemiology
- Communicable Diseases
- Non-Communicable Diseases
- Healthcare Sector
- Hospital Sector
- Recent Healthcare Sector Developments
- Health Insurance Sector
- Telemedicine
- Clinical Trials Sector
- Medical Devices Sector
Industry Forecast Scenario
- Overall Pharmaceutical Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2007-2015
- Table: Government Healthcare Expenditure Indicators 2007-2015
- Table: Private Healthcare Expenditure Indicators 2007-2015
- Key Growth Factors - Macroeconomic Outlook
- Table: Ghana - Economic Activity, 2006-2015
- Prescription Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Market Forecast
- Table: Patented Drug Market Indicators 2007-2015
- Generics Market Forecast
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Market Forecast
- Table: OTC Medicine Sales Indicators 2007-2015
- Medical Devices Market Forecast
- Table: Medical Devices Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2007-2015
- Other Healthcare Data
- Key Risks To BMI Forecasts
Competitive Landscape
- Pharmaceutical Sector
- Domestic Pharmaceutical Industry
- Recent Pharmaceutical Sector Developments
- Pharmaceutical Distribution and Retail
Company Profiles
- Indigenous Pharmaceutical Firms
- LaGray Chemical Company
- Historical D
- DanAdams Pharmaceutical Industry
BMI Methodology
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Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.