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 and is the market is anticipated to reach the valuation of USD 62 billion by 2024.
With no industrial revolution, socio economic structures are in degenerative state rather than accumulative state. With the evolving disease pattern, diseases such as malaria, tuberculosis and HIV/AIDS are globally present though but others like sleeping sickness are specific to Africa. In 2016, Flint Atlantic (Nigerian based healthcare impact investment firm) announced an investment jointly with US-based Polaris Partners (Polaris), a leading global healthcare venture capital firm to fund AHN’s expansion in Rwanda and across Africa over the next two years. Private providers sense opportunity in Africa healthcare, for instance, in Nigeria, where it has sold portable ultrasound scanners, GE has trained careers in remote villages how to identify the biggest pregnancy-complication risks.
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. Countries like Botswana, Tanzania, South Africa, Mauritius and Lesotho that had the most room for improvement among others owing to relatively high life expectancy and expenditure on healthcare. Botswana has brunt of the AIDS epidemic with remarkable resilience and is now one of the highest life expectancies in Africa.
“Africa Healthcare Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of medical devices & drug manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, cosmetic product manufacturers, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.
Africa Healthcare Market Growth and it’s Segmentation can be classified on the basis of:
- Devices (medical equipments)
- Others (reagents and disposables)
- Others (dermatology, dentistry, diabetes, etc)
By End User
- Diagnostic Labs
- Homecare Settings
- Research and Development Centers
Market Trends, Drivers and Challenges
Many private providers are sensing opportunity in Africa Healthcare. According to World Health Organization by 2030, close to 1 million people a year in Africa will die of cancer alone that presents an opportunity for private providers, partly because most African healthcare systems are evolving from a ruefully low base. 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. However, it is recorded that around 80% of nation’s population is not medically insured 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 broken equipments, 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 Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Africa Healthcare Market Report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
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