- Language: English
- Published: October 2012
- Region: Ghana
Ghana Pharmaceuticals and Healthcare Report Q1 2012
- ID: 2023980
- January 2012
- Region: Ghana
- 73 Pages
- Business Monitor International
Poland Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Poland's pharmaceuticals and healthcare industry.
- Benchmark BMI’s Independent 5-year Pharmaceutical and Healthcare Industry Forecasts on Ghana to test other views - a key input for successful budgeting and strategic business planning in the Ghana pharmaceutical and healthcare market.
- Target Business Opportunities & Risks in the Ghana Pharmaceutical and Healthcare Sector through our reviews - and major deals, projects and investments in Ghana.
- Exploit The Latest Competitive Ghana Pharmaceutical and Healthcare Intelligence & company SWOTS on your competitors and peers through company rankings by sales, market share and ownership structure – includes multi-national and national companies in Ghana.
BMI View: Ghana’s pharmaceutical market is expected to post double-digit year-on-year (y-o-y) growth again in 2011, which will partly be due to inflation. Per capita spending on medicines will remain below the US$30 mark until 2016 at least. Nevertheless, some of Ghana’s expected oil revenue is likely to be channelled into expansion of healthcare system coverage, including pharmaceuticals, which should support growth.
Headline Expenditure Projections
- Pharmaceuticals: GHC511mn (US$357mn) in 2010 to GHC601mn (US$390mn) in 2011; +17.6% in local currency terms and +9.4% in US dollar terms. Forecast unchanged from Q411.
- Healthcare: GHC2.00bn (US$1.39bn) in 2010 to GHC2.27bn (US$1.47bn) in 2011; +13.8% in local currency terms and +5.8% in US dollar terms. Forecast slightly down from Q411 due to adjustment of historical figures.
- Medical devices: GHC95mn (US$67mn) in 2010 to GHC113mn (US$73mn) in 2011; +18.0% in local currency terms and +9.7% in US dollar terms. Forecast slightly down from Q411 due to adjustment of historical figures.
Business Environment Rating: In the Q112 Pharmaceutical and Healthcare Business Environment Ratings (BERs) for the now 30 markets BMI surveys in the Middle East and Africa (MEA), Ghana receives a considerably improved composite score of 43.7. This figure places it in the 18th position in the regional market. Generally speaking, the country’s scores are slightly stronger on the risk side than on the rewards side, primarily due to the low per capita spending on pharmaceuticals, which makes for a small overall market size – although its longer-term potential is significant. Globally, Ghana is 70th out of the 95 countries surveyed by our proprietary pharmaceutical BER system, below Botswana and above Moldova.
Key Trends And Developments
- Despite concerted efforts to stem the trade in counterfeit and substandard medicines, the president of the Pharmaceutical Society of Ghana (PSGH) said in August 2011 that the country’s medicines regulator has been unable to restrict imports of counterfeit drugs. Similarly, the director of pharmaceutical services at the Ministry of Health emphasised counterfeit drugs, mainly from Nigeria due to a lack of border security, as a serious challenge. The regulator then issued a warning about an unregistered and substandard drug, oxytocin injection, which was released in to several markets in the country. The drug, manufactured by Chinese firm Sinochem Ningbo, failed to meet quality standards during laboratory analysis.
- In November 2011, The Guardian reported that people in the Sub-Saharan Africa (SSA), including Ghana, are facing difficulties accessing healthcare facilities despite healthcare fees for the poor being abolished. Some of health facilities in Ghana have continued charging for services even when reimbursements have finished and debt has increased at regional drug stores. BMI Economic View: The Ghanaian economy will enjoy stellar economic growth over the medium term, propelled by the nascent oil and gas sector. The Ministry of Finance and Economic Planning announced in November 2011 that it plans to elevate the registration threshold for businesses to an annual turnover of GHC120,000, from GHC90,000 previously, which will bring in more revenue for the government. It has also offered a tax amnesty to companies and individuals operating outside the tax system, in order to encourage them to move into the formal economy.
BMI Political View: BMI believes it is too early to draw conclusions about whether or not oil revenue will be managed prudently in Ghana, but the signs so far are relatively encouraging, which supports our positive outlook for healthcare spending. The lengthy consultation in the run-up to oil production indicates the authorities are at pains to get things right. The Ministry of Finance and Economic Planning has started to publish data showing earnings specifically from the oil industry, which indicates a good level of transparency. SHOW LESS READ MORE >
Ghana Pharmaceutical And Healthcare SWOT
Ghana Political SWOT
Ghana Economic SWOT
Ghana Business Environment SWOT
Pharmaceutical Business Environment Ratings
Table: Middle East And Africa Pharmaceutical And Healthcare Business Environment Ratings, Q112
Ghana – Market Summary
Intellectual Property Regime
Table: mPedigree’s Activities In Ghana – Low-Cost Detection And Interception Technology
Counterfeit Drugs Developments
Pricing And Reimbursement Regimes
Rational Drug Prescribing
Healthcare Sector Developments
Health Insurance Sector
Health Insurance Funding
Clinical Trials Sector
Medical Devices Sector
Industry Forecast Scenario
Overall Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, 2007-2016
Key Growth Factors – Industry
Table: Healthcare Expenditure, 2007-2016
Key Growth Factors – Macroeconomic Outlook
Table: Ghana Economic Activity, 2011-2016
Prescription Drug Market Forecast
Table: Prescription Drug Sales, 2007-2016
Patented Market Forecast
Table: Patented Drug Sales, 2007-2016
Generic Drugs Market Forecast
Table: Generic Drug Sales, 2007-2016
OTC Market Forecast
Table: OTC Medicine Sales, 2007-2016
Medical Devices Market Forecast
Table: Medical Devices Sales, 2007-2016
Pharmaceutical Trade Forecast
Table: Exports and Imports Indicators 2007-2016
Other Healthcare Data
Key Risks To BMI’s Forecasts
Domestic Pharmaceutical Industry
Table: Leading Domestic Manufacturers (2010)
Foreign Pharmaceutical Industry
Pharmaceutical Sector Developments
Pharmaceutical Distribution And Retail
Domestic Pharmaceutical Companies
LaGray Chemical Company
DanAdams Pharmaceutical Industry
Ayrton Drug Manufacturing Company (Adcock Ingram)
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceuticals Business Environment Ratings
Risk/Reward Ratings Methodology
Table: Pharmaceutical Business Environment Indicators
Table: Weighting Of Components
- Domestic Pharmaceutical Companies
- LaGray Chemical Company
- DanAdams Pharmaceutical Industry
- Ayrton Drug Manufacturing Company (Adcock Ingram)
- M&G Pharmaceuticals