Africa Pharmaceutical Market: Growth Outlook and Key Trends to 2030
The Africa pharmaceutical market was valued at USD 26.85 billion in 2023 and is forecast to expand to USD 213.06 billion by 2030, registering a 6.81% CAGR from 2024 through 2030. This rapid growth is driven by heightened health awareness across the continent, rising demand for treatments of chronic and infectious diseases, and improving affordability of medicines. As noted by the South African government, ongoing high incidences of conditions such as obesity, hypertension, diabetes, cancer, and various infectious diseases will continue to fuel pharmaceutical sales. Over recent years, the African pharmaceutical sector has seen steady development, thanks in part to increased investment by regional governments in public health initiatives and healthcare infrastructure. Ensuring the secure and timely delivery of essential medicines has become a key priority, creating attractive opportunities for local manufacturers and distributors. Moreover, the ro...