CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Africa
LONDON, Jan. 19, 2017 /PRNewswire/ --
GlobalData, the industry analysis specialist, has released its latest report, "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - South Africa". The report is an essential source of information on and analysis of the healthcare, regulatory and reimbursement landscape in South Africa. It identifies the key trends in the country's healthcare market and provides insights into its demographic, regulatory, and reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData's team of industry experts.
The population of South Africa in 2015 was 54.96 million, having grown at a CAGR of 2% from 2008. In 2011, the government introduced the National Health Insurance (NHI) policy to promote the pharmaceutical market. To increase the growth rate of the pharmaceutical industry, the government also introduced the South African Health Products Regulatory Authority (SAHPRA). Through SAHPRA, the government aims to increase the pace of the drug approval process, while maintaining the highest possible quality standards.
In 2015, the government spent 0.59% of GDP in 2015 on R&D on medical and health science and exported $2.31 billion of pharmaceutical products. The pharmaceutical market in South Africa was worth $5.16 billion in 2015 and is projected to reach $7.28 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 7%. The medical device market was valued at $1.8 billion in 2015 and is projected to grow at a CAGR of 4.1% to $2.19 billion by 2020.
These positive growth trends can be primarily attributed to -
- An increasingly elderly population
- Universal health coverage
- Government initiatives
The report provides information on the healthcare, regulatory, and reimbursement landscape in South Africa which includes -
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Aspen Pharmacare, Adcock Ingram, Pfizer, GSK and Roche; and profiles and SWOT analyses of the major players in the medical device market: Essilor International, Sirona Dental System, Paul Hartmann, Alcon and GSK
- An insightful review of the reimbursement and regulatory landscape, with analysis covering details of the country's healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices
- Detailed analysis of the country's political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the South African healthcare market
Reasons to buy
This report will enhance your decision-making capability by allowing you to -
- Develop business strategies by understanding the trends shaping and driving South Africa's healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact South Africa's healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors' performance
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership
Read the full report: http://www.reportlinker.com/p02577104-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/countryfocus-healthcare-regulatory-and-reimbursement-landscape---south-africa-300393902.html