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Healthcare Overview in Zimbabwe
Frost & Sullivan, Nov 2010, Pages: 95
This research service presents an in-depth analysis of the Zimbabwean healthcare industry. It provides a general insight into issues such as healthcare regulations, medical insurance, procurement processes and healthcare financing. A thorough overview of the economic situation in Zimbabwe, especially in light of the recovery taking shape, precedes the healthcare analysis. The research service focuses on the key industry dynamics affecting two healthcare market segments, namely pharmaceuticals and infectious disease diagnostics. Industry sizes and growth forecasts over the period 2009-2016 are presented, as well as key market trends. In addition, a thorough competitor analysis for each of the segments was performed.
This research service titled Healthcare Overview in Zimbabwe provides a strategic analysis of the healthcare structure, identifies challenges, drivers and restraints in the pharmaceutical industry, and provides revenue forecasts from 2009 to 2016. A similar analysis is offered for the infectious disease diagnostics market. Furthermore, strategic recommendations are provided. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: healthcare structure, expenditures, medical aid environment and regulations as well as the pharmaceutical industry in Zimbabwe.
Market Overview
Economic Stability Creates Conducive Environment for Growth of the Pharmaceutical Market
Recovery from a decade-long economic contraction has been the main factor behind the growth experienced in Zimbabwe’s pharmaceutical sector in the last two years. A new coalition government and subsequent macro-economic stabilisation have brought renewed optimism and spurred demand in healthcare markets. This is driving the uptake of drugs. This trend is expected to remain robust in future due to the greater availability of low-cost generic drugs. Shortages will, however, persist as a result of limited local manufacturing of drugs.
“A recovering economy, which has brought with it price stability and rising incomes, is driving expenditure,” notes the analyst of this research. “The increased availability of low-cost generic drugs, paralleled by the rising incidence of infectious diseases in the country, will boost pharmaceutical market development.” Zimbabwe is in the midst of economic recovery, and rising incomes are already driving the demand for quality healthcare products. Economic growth, coupled with the greater availability of affordable generic drugs, will spur the uptake of pharmaceuticals.
Infusion of Capital into Local Firms Is Key to Market Development
Over the course of Zimbabwe’s economic slump, the country’s once vibrant pharmaceutical industry had shrunk by over 50 per cent, and by 2008, capacity utilisation stood at a mere 20 per cent. Although the economy has since recovered, significant challenges remain for local manufacturers mainly in the form of lack of capital. “The country has struggled to attract capital and access loan facilities from international lenders due to the government’s unfavourable credit record,” explains the analyst. “Limited access to capital has therefore inhibited investment in new plants and equipment, and thus production levels have remained low.” Without an optimally operating manufacturing industry, shortages of affordable medicines will remain unresolved.
The direction of long-term policy in Zimbabwe and many countries in sub-Saharan Africa is moving towards promoting local manufacturing of generic drugs. In that regard, foreign investors have an important role to play in the country’s pharmaceutical sector. As the economy of Zimbabwe has now stabilised, the opportunity for international investors lies in the provision of business capital, with possible guarantees negotiated with the government. “Injection of capital into local firms would enable upgrade of facilities, and thus unlock new markets, most notably donor-financed tenders and regional export markets,” concludes the analyst. “A pre-requisite for suppliers wishing to tap into these markets is meeting WHO quality certification, standards which most local manufacturers currently do not meet.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following application sectors in this research:
- Branded drugs
- Generic drugs
- Infectious disease diagnostics
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