Dublin, Aug. 25, 2023 (GLOBE NEWSWIRE) -- The "South Africa Biopharmaceuticals Market - Industry Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
South Africa biopharmaceuticals market is poised to achieve remarkable milestones, anticipating an escalation from $1.1 billion in 2022 to an estimated value of $2.21 billion by 2028, at an impressive compound annual growth rate (CAGR) of 12.30%.
The landscape of the South Africa biopharmaceuticals market stands as a testament to its dynamic nature, marked by rapid expansion and continuous evolution. This growth is propelled by a convergence of factors, including the escalating healthcare demands of the population, the increasing prevalence of chronic ailments, and the continuous strides made in medical research and biotechnology.
The competition within this sector is palpable, as pharmaceutical entities vie aggressively to secure their footing in this high-stakes industry, reflecting its pivotal role in addressing critical healthcare needs.
Promising Signs for Local Biopharmaceutical Production in South Africa
The promising signs for local biopharmaceutical production in South Africa reflect a growing interest in developing a robust and self-sufficient pharmaceutical industry. With strong government support, research advancements, collaborative partnerships, and a focus on addressing healthcare demands, the country is poised to make significant strides in biopharmaceuticals.
By fostering local production, the South Africa biopharmaceuticals market can improve access to essential medicines, drive healthcare innovation, and contribute to economic development, ultimately benefiting the healthcare sector and the well-being of its population.
Growing Pharmaceutical Industry & Investment Opportunities
The growing South Africa biopharmaceuticals market presents ample investment opportunities for companies and investors. The country's expanding market size, disease burden, government support, local manufacturing focus, robust regulatory environment, and potential for regional market access contribute to its attractiveness as a pharmaceutical investment destination.
As the healthcare landscape continues to evolve, companies investing in research, development, and manufacturing capabilities are well-positioned to capitalize on the country's burgeoning pharmaceutical market and improve healthcare outcomes for the South African population and beyond.
Growing Access to CGTs in South Africa
The growing access to cell and gene therapies in South Africa presents a transformative opportunity to revolutionize healthcare and improve patient outcomes. With the potential to address genetic and rare diseases, enhance cancer care, and offer personalized medicine, these therapies are poised to impact healthcare delivery profoundly.
As the South Africa biopharmaceuticals market embraces these innovations and establishes supportive policies and infrastructure, the region can position itself at the forefront of biomedical research and become a hub for cutting-edge therapies, unlocking new possibilities for patients and healthcare providers.
Increasing Prevalence of Chronic Diseases & Growing Aging Population
The increasing prevalence of chronic diseases and the growing aging population in South Africa are compelling factors that necessitate a proactive and comprehensive approach to healthcare. Addressing these challenges requires strategic planning, increased investment in healthcare infrastructure, preventive health initiatives, and equitable access to healthcare services. By focusing on these areas, South Africa can improve health outcomes, enhance the quality of life for its citizens, and build a more resilient and sustainable healthcare system to meet future needs.
Increasing Focus on Precision Medicine
The increasing focus on precision medicine in South Africa marks a transformative shift in healthcare, offering the potential to revolutionize patient care and disease management. By leveraging genomic data, health informatics, and targeted therapies, precision medicine aims to deliver more effective, personalized, and patient-centric healthcare solutions.
As the region continues to advance its precision medicine capabilities, integrating genomic insights into clinical practice holds the promise of improving health outcomes, reducing healthcare costs, and enhancing the quality of life for the population.
SEGMENTATION INSIGHTS
The South Africa biopharmaceuticals market by product segments as vaccines, monoclonal antibodies, recombinant proteins & hormones, and tissue, cell & gene therapies. The vaccines segment accounted for the largest segmental share. Vaccines are pivotal in public health, preventing and controlling infectious diseases that threaten communities worldwide.
In South Africa, vaccines are a cornerstone of the biopharmaceuticals market, providing essential protection against various infectious diseases and contributing to the nation's efforts to improve public health and healthcare outcomes. Government initiatives and partnerships with international organizations have been instrumental in driving vaccine development and distribution in South Africa.
The country's government, WHO, and other global health entities have implemented immunization programs targeting various age groups and high-risk populations.
INSIGHTS BY THERAPY AREA
The infectious diseases by therapy area segment accounted for the largest South Africa biopharmaceuticals market share. Infectious diseases have long been a significant public health concern in South Africa, posing challenges to the healthcare system and population.
The country's biopharmaceutical market is crucial in addressing these challenges by providing innovative and effective treatments and preventive measures against infectious diseases. The biopharmaceuticals market in the region has played a pivotal role in addressing infectious diseases through developing and distributing vaccines, antiviral drugs, antibiotics, and other therapeutics.
Antiretroviral therapy (ART) has been a game-changer in managing HIV/AIDS, improving HIV-positive individuals' quality of life and life expectancy.
KEY QUESTIONS ANSWERED:
- How big is the South African biopharmaceuticals market?
- What is the South Africa biopharmaceuticals market's projected growth rate?
- Who are the key players in the South Africa biopharmaceuticals market?
- What are the rising trends in the South African biopharmaceuticals market?
- Which therapy area holds the most significant South African biopharmaceuticals market share?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 202 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.1 Billion |
| Forecasted Market Value (USD) by 2028 | $2.21 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | South Africa |
MARKET DYNAMICS
Biopharmaceuticals: Overview
- Global Biopharmaceuticals Market Scenario
- South Africa Biopharmaceuticals Market Scenario
Biopharma Manufacturing Overview
- Regulatory Scenario of Biopharmaceuticals in South Africa
- Reimbursement Scenario of Biopharmaceuticals in South Africa
- Supply Chain of Biopharmaceuticals
- Covid-19 Impact Analysis
Market Opportunities & Trends
- Promising Signs for Local Biopharmaceutical Production in South Africa
- Increased Adoption of Biosimilars
- Growth of Pharmaceutical Industry & Investment Opportunities
- Increased Access to Cgt in South Africa
Market Growth Enablers
- Prevalence of Chronic Diseases & Large Aging Population
- Top Chronic Diseases in South Africa
- Increased Focus on Precision Medicine
- Biologics Uptake & Potential in South Africa
Market Restraints
- Lack of Manufacturing Capabilities
- High Development Cost of Biologics
- Poor Patient Acceptance & Access to Biologics
VENDOR LANDSCAPE
Key Company Profiles
- AbbVie
- F. Hoffmann-la Roche
- GSK
- Johnson & Johnson
- Merck & Co.
- Novartis
- Novo Nordisk
- Pfizer
- Sanofi
Other Prominent Vendors
- Amgen
- Biocon
- Biogen
- Cipla
- Eli Lilly and Company
- Teva Pharmaceutical Industries
- Viatris
For more information about this report visit https://www.researchandmarkets.com/r/v0z679
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