CAPE TOWN, South Africa, April 16 /PRNewswire/ --
The pharmaceuticals market in Tanzania presents significant growth opportunities for local companies. Generic drug production is driving prices down, resulting in higher uptake.
New analysis from Frost Sullivan (http://www.medicaldevices.frost.com), Strategic Analysis of the Healthcare Industry in Tanzania, finds that the pharmaceutical market earned revenues of US$105.0 million in 2007 and estimates this to reach US$188.0 million in 2014.
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Growth in the Tanzanian pharmaceuticals industry will be boosted by the expected decline in drug prices, due to the increased availability of generic drugs, notes Frost Sullivan Research Analyst Ishe Zingoni. This would facilitate higher uptake of drugs and promote the local manufacturing industry.
Government support has been crucial in stimulating the infant local pharmaceuticals sector. Localisation of drug manufacturing is driving prices of some drug classes down, and as the industry reaches sufficient economies of scale, prices are predicted to further decrease.
The main restraint in this market is the intensifying level of competition from low cost imports. Local manufacturing is also hindered extensively by the lack of technical skills in production.
Manufacturers in Tanzania cannot get local expertise and, therefore, rely on Indian and British expatriates for the technical aspects of production, adds Zingoni. Local employees only focus on packaging and labeling processes.
Some local manufacturers are entering strategic agreements with Thai partners to facilitate technical skills transfer and procure raw materials. Together with their partners, Tanzanian companies are increasingly investing in generating local expertise through training programmes.
Strategic Analysis of the Healthcare Industry in Tanzania is part of the Medical Devices Growth Partnership Service programme, which also includes research in the following markets: Strategic Analysis of the Healthcare Industry of Kenya, Key Infectious Diseases Markets in East Africa, Strategic Analysis of Oncology Services in Key Sub-Saharan African Countries and, Infectious Disease Pharmaceutical Markets in key Sub-Saharan African Countries. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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Strategic Analysis of the Healthcare Industry in Tanzania M2F4 Contact: Patrick Cairns Corporate Communications - Africa P: +27-18-468-2315 E: firstname.lastname@example.org
Patrick Cairns, Corporate Communications - Africa of Frost Sullivan, +27-18-468-2315, email@example.com. Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO