Noida, India (PressExposure) September 24, 2009 -- Rapid changes in regulatory environment, high investments and increasing prevalence of several lifestyle-related diseases have led growth in the South African pharmaceutical market in an effective manner. All these factors have also resulted in the rapid advancements of the countryâs healthcare infrastructure. Our new research study âMiddle East and Africa Pharma Sector Forecast to 2012â anticipates that pharma market in South Africa will grow at a CAGR of over 8% to generate revenue of around US$ 4.7 Billion by 2012, ranking it one of the highest growing pharma markets in the overall region.
We have done extensive research on pharma market in the Middle East and Africa region in order to identify various developments and trends undergoing in key markets. According to our study, South Africa is the leading country in the region in terms of revenue generation and will retain its leading position in near future also. Various factors, such as ageing population, increasing prevalence of lifestyle-related diseases, have strongly boosted the growth of pharmaceutical market. Moreover, the government is promoting the sector by making investments in active research and development of drugs.
We have observed that most of the country level markets are dependent on import. More than half of the drugs are imported in the region from the American and European countries and because of this, drug prices in the region are very high. For this, the governments of respective countries are trying to improve their domestic production level. Moreover, regulations are being changed in several countries to restrict excessive import of drugs.
Our study âMiddle East and Africa Pharma Sector Forecast to 2012â analyzes key markets and their segments to give information about the pharma industry in the Middle East and Africa region. According to our industry experts, several steps should be taken by governments to make easy the approval system in order to promote investment in dedicated research and development. The report also provides detailed analysis of factors fueling growth in the pharma market. Besides, the report contains qualitative statistics of various industrial segments for thorough evaluation of the past and present market trends.
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