Major driving factors like transforming healthcare system such as hospitals/clinics integrating IT with operations, in-country manufacturing, micro-insurance policies and improvement in care delivery tends to increase the Africa Healthcare Market.
According to the International Finance Corporation and World Bank, African healthcare sector was USD 35 billion in 2016 and tends to increase by the projected CAGR of 6% over the forecast years.
African pharmaceutical market is anticipated to reach USD 62 billion by 2024. Private healthcare sector hold the major share of Africa healthcare system which tends to grow owing to the insurance schemes and easy reimbursements.
Sub Saharan Africans health and healthcare systems are rated among the lowest in the world owing to jobs as the foremost priority followed by improving agriculture and tackling corruption. While countries like South Africa, Tanzania, Botswana are more focused towards their healthcare infrastructure due to increase in healthcare expenditure and high life expectancy.
AIDS Denialism: Major Cause for Loss of Life
Mbeki Aids denial caused 300,000 deaths in South Africa because of the refusal to accept medical evidence of virus. He came under the influence of a group of maverick scientists known as Aids denialists, Peter Duesberg from Berkeley, California. By contrast HIV and AIDS were first discovered in gay men in 1980’s in South Africa while first heterosexual AIDS case was identified in 1987. Tuberculosis beats heart diseases as the leading cause of death in Africa.
Bill of Rights Constitution for “Few”
More than 80% of nation’s population has no medical insurance and depend upon public healthcare system with few doctors with doctor-patient ratio 0.8 per 1000 and dilapidated facilities. Although poor population has access to 4200 public clinics but with medical infrastructure Such as broken equipments, low medicine shortage and less staff. The National Health Insurance project costs USD 20 billion is due to start in 2026, to provide healthcare facilities for almost 55 million people.
“Africa Healthcare Market Outlook 2024” contains detailed overview of the global Africa healthcare market in terms of market segmentation by type, sector, application, end user and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
This market report also includes competitive outlook of some of the major players of the Africa healthcare market which includes profiling of companies like Siemens, Roche, Alere, Medtronics, Abbott, GE Healthcare, B Braun, LIFE Healthcare Group, Mediclinic International, Netcare, Litha Healthcare Group, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the Africa healthcare market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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