Africa Pharmaceutical Market 2030: The Role of Local Manufacturing in Growth
Africa Pharmaceutical Market Growth & Trends The Africa pharmaceutical market size was estimated at USD 26.85 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2030. This growth is attributed to rising health-consciousness, increasing demand for pharmaceuticals due to chronic diseases, and affordability. According to the South African government, pharmaceutical sales and demand are likely to propel in coming years due to the high incidence of infectious & lifestyle diseases, such as obesity, hypertension, diabetes, and cancer. The African region has witnessed gradual developments in its pharmaceutical industry. Additionally, the increasing focus by regional government authorities on the well-being of their growing populations, coupled with advancements in healthcare services, is expected to propel the market over the forecast period. Ensuring the safe and timely delivery of pharmaceuticals has emerged as a priority for regio...