by The Africa injectable drugs market is poised to grow at a robust pace driven by increasing prevalence of chronic diseases. The Africa injectable drugs market comprises drugs that are administered through various routes such as intravenous, intramuscular and subcutaneous. These drugs provide advantages such rapid action and higher bioavailability compared to oral medications. Some of the key injectable drugs administered include painkillers, anticoagulants, vasodilators, antibiotics, antifungals, antivirals among others. The growing incidence of diseases such as cancer, diabetes, cardiovascular diseases and infectious diseases has increased the demand for injectable drug formulations in the region.
Africa injectable drugs market is estimated to be valued at US$ 326.53 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Africa injectable drugs market are 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.
Growing demand: The rising prevalence of chronic diseases and growing geriatric population has increased the Africa Injectable Drugs Market Trends for the region. Furthermore, injectable formulations provide faster action which drives their adoption.
Global expansion: Major injectable drug manufacturers are expanding their presence across African countries to tap into the emerging opportunities. Various initiatives are being undertaken to strengthen healthcare infrastructure and ensure drug availability.
Market key trends
One of the key trends observed in the Africa injectable drugs market is the shift towards complex injections. Earlier, most injectable drugs were small molecules however with advancements, biologics and large molecules drugs are also being developed for chronic disease therapeutics. Biosimilars offer cost-effective treatment options and their uptake is increasing. Further, self-administrable drug delivery systems such as pre-filled syringes and auto-injectors are gaining traction due to convenience. The Africa injectable drugs market is expected to witness steady growth over the forecast period supported by rapid economic development and healthcare reforms.
Porter’s Analysis
Threat of new entrants: Low regulations and entry barriers allow new players to enter the market easily. However, established players have strong brand recognition and distribution networks.
Bargaining power of buyers: Large scale buyers like hospitals and government organizations can negotiate on price and demand additional services. However, need for essential drugs keeps their power in check.
Bargaining power of suppliers: Major suppliers of active pharmaceutical ingredients possess strong negotiation power due to limited alternatives. However, standardized production process maintains balance.
Threat of new substitutes: Alternative delivery methods or new drug classes pose a minor threat as injectable drugs serve critical medical conditions.
Competitive rivalry: Fierce competition exists between numerous global and local players. Price wars and new product launches are common.
Geographical regions in Africa:
North Africa region accounts for over 35% share in the Africa Injectable Drugs Market Regional Analysis owing to higher healthcare expenditures of countries like Egypt and Morocco. Growing medical tourism along with expanding health insurance coverage has boosted the regional market.
East Africa region is anticipated to record the fastest CAGR during the forecast period. This can be attributed to rising disease prevalence, increasing public health investments and presence of emerging drug makers in countries like Kenya and Ethiopia. The region provides lucrative opportunities for both innovator and generic injectable drugs.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
