Why look at Africa?
With a population of over a billion people, Africa represents a vast potential market. The political and economic picture is improving in many areas, as conflicts are brought under control, and governments show a new willingness to use export revenues to boost healthcare.
Levels of external aid remain strong. While this can be a double-edged sword for the economy of the country in question, a large number of development projects are ongoing. Virtually the entire continent is wholly reliant on imports, which rose by an average of 7.5% per year in the 2006-10 period. The least-developed areas of central and eastern Africa experienced even higher growth rates.
Total health expenditure is estimated at US$117.0 billion in 2012. South Africa is expected to account for US$34.1 billion, equal to 29.1% of the total. With Egypt accounting for US$12.7 billion or 10.9%. Per capita expenditure for Africa as a whole is estimated at US$112 in 2012. This ranges from around US$393 in southern Africa, to US$42 or less in the central region. Disparities are wider than this, however. South Africa spends around US$700 per person, while many spend less than US$50.
Public expenditure will amount to US$55.7 billion in 2012, or 47.6% of the total. South Africa is expected to account for US$13.7 billion of this, followed by around US$7.2 billion for Algeria, and US$5.2 billion each for Egypt and Nigeria. These countries have well-developed private hospital sectors, but in many countries private expenditure accounts for a high percentage of spending simply because there is very little public spending. Excepting South Africa, private expenditure is almost wholly on an out-of-pocket or charitable basis.
Import dependent medical equipment and supplies market tops US$3.2 billion
African countries rely on imported medical equipment and supplies which were valued at just over US$3.2 billion in 2010. This was a rise of 4.9% over 2009. Growth in imported medical products has been strong over the past few years, with a CAGR of 7.5% for the 2006-10 period. The fastest growth was recorded in western and northern Africa, with a more mixed picture elsewhere. SHOW LESS READ MORE >
Why look at Africa?