Access to therapeutic drugs form an integral part of any successful healthcare system. The high cost of drugs, however remains a barrier to accessibility and improved health to the majority of the South African population. The promotion of generic drug consumption was the answer to this issue, with its massive cost-saving mechanism in regard for the final consumers, insurance providers, and government. In 2001, the South African Government passed the law that allowed substitution of branded medicines with generic drugs, which in turn made South Africa a huge market space for the generic drug manufacturing pharmaceutical companies. Further, it is anticipated that the generic medicine market is forecasted to grow at a CAGR of around 12% during 2017-2022.
The report “South Africa Generics Medicine Market Outlook 2022” provides a current and future perspective of the market. It provides an overview of the Healthcare market of South Africa, focusing on its two major segments of Public Healthcare and Private Healthcare. It further gives a detailed analysis of the South African Pharmaceutical market, with an in-depth study of the Generic Drug market scenario prevalent in the country.
A detailed demographic analysis was carried out in the research to understand the significance of the generic market in South Africa, which revealed that HIV is the biggest threat to the country, as it results in the majority of casualties in the country. The other major epidemic is Tuberculosis and Hepatitis. Further, a meticulous disease wise segmentation has provided the holistic understanding of the healthcare-related demand parameters prevailing in the country.
The latter half of the report provides the status of the current rules and regulation that govern the Generic Drug market. It also focuses on the analysis of current trends, and the challenges of the market. Our research also talks about the competitive landscape of the key players, such as Teva, Aspen, Adcock Ingram, Cipla, and Pharma Dynamics. On the whole, the report provides information that will prove to be vital for investors interested in the domestic market.