South Africa Biopharmaceuticals Market Outlook & Forecast Report 2023-2028: Push for Local Biopharmaceutical Production Attracts Global Interest - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "South Africa Biopharmaceuticals Market - Industry Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

South Africa biopharmaceuticals market is poised to achieve remarkable milestones, anticipating an escalation from $1.1 billion in 2022 to an estimated value of $2.21 billion by 2028, at an impressive compound annual growth rate (CAGR) of 12.30%

The biopharmaceuticals market in South Africa is experiencing rapid growth due to rising healthcare needs, a growing burden of chronic diseases, and advancements in medical research and biotechnology. Competition among pharmaceutical companies is intense as they strive to gain a foothold in this lucrative and vital sector.

South Africa is showing promising signs of local biopharmaceutical production, reflecting a strong interest in developing a self-sufficient pharmaceutical industry. With robust government support, research progress, collaborative partnerships, and a focus on addressing healthcare demands, the country is poised to make significant strides in the biopharmaceutical field.

Promoting local production in the South Africa biopharmaceuticals market can enhance access to essential medicines, drive healthcare innovation, and contribute to economic development, ultimately benefiting the healthcare sector and the population's well-being.

The growing South Africa biopharmaceuticals market offers attractive investment opportunities for companies and investors. The country's expanding market size, disease burden, government support, emphasis on local manufacturing, favorable regulatory environment, and potential for regional market access make it an appealing pharmaceutical investment destination.

As the healthcare landscape evolves, companies investing in research, development, and manufacturing capabilities are well-placed to capitalize on the burgeoning pharmaceutical market in South Africa, ultimately improving healthcare outcomes for the South African population and beyond.

Increasing access to cell and gene therapies in South Africa presents a transformative opportunity to revolutionize healthcare and enhance patient outcomes. These therapies have the potential to address genetic and rare diseases, improve cancer care, and offer personalized medicine, profoundly impacting healthcare delivery.

As the South Africa biopharmaceuticals market embraces these innovations, establishes supportive policies, and builds infrastructure, the region can position itself as a leader in biomedical research and a hub for cutting-edge therapies, opening new possibilities for patients and healthcare providers.

The rising prevalence of chronic diseases and the growing aging population in South Africa demand a proactive and comprehensive approach to healthcare. Addressing these challenges necessitates strategic planning, increased investment in healthcare infrastructure, preventive health initiatives, and equitable access to healthcare services. By prioritizing these areas, South Africa can enhance health outcomes, elevate the quality of life for its citizens, and develop a more resilient and sustainable healthcare system to meet future demands.

The increasing emphasis on precision medicine in South Africa signifies a transformative shift in healthcare, offering the potential to revolutionize patient care and disease management. Precision medicine leverages genomic data, health informatics, and targeted therapies to deliver more effective, personalized, and patient-centered healthcare solutions.

As the region advances its precision medicine capabilities and integrates genomic insights into clinical practice, it holds the promise of improving health outcomes, reducing healthcare costs, and enhancing the quality of life for the population.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The South Africa biopharmaceuticals market by product segments as vaccines, monoclonal antibodies, recombinant proteins & hormones, and tissue, cell & gene therapies. The vaccines segment accounted for the largest segmental share. Vaccines are pivotal in public health, preventing and controlling infectious diseases that threaten communities worldwide.

In South Africa, vaccines are a cornerstone of the biopharmaceuticals market, providing essential protection against various infectious diseases and contributing to the nation's efforts to improve public health and healthcare outcomes. Government initiatives and partnerships with international organizations have been instrumental in driving vaccine development and distribution in South Africa.

The country's government, WHO, and other global health entities have implemented immunization programs targeting various age groups and high-risk populations.

INSIGHTS BY THERAPY AREA

The infectious diseases by therapy area segment accounted for the largest South Africa biopharmaceuticals market share. Infectious diseases have long been a significant public health concern in South Africa, posing challenges to the healthcare system and population. The country's biopharmaceutical market is crucial in addressing these challenges by providing innovative and effective treatments and preventive measures against infectious diseases.

The biopharmaceuticals market in the region has played a pivotal role in addressing infectious diseases through developing and distributing vaccines, antiviral drugs, antibiotics, and other therapeutics. Antiretroviral therapy (ART) has been a game-changer in managing HIV/AIDS, improving HIV-positive individuals' quality of life and life expectancy.

KEY QUESTIONS ANSWERED:

• How big is the South African biopharmaceuticals market?
• What is the South Africa biopharmaceuticals market's projected growth rate?
• Who are the key players in the South Africa biopharmaceuticals market?
• What are the rising trends in the South African biopharmaceuticals market?
• Which therapy area holds the most significant South African biopharmaceuticals market share?

Biopharmaceuticals: Overview

Global Biopharmaceuticals Market Scenario

• South Africa Biopharmaceuticals Market Scenario
• Regulatory Scenario of Biopharmaceuticals in South Africa
• Reimbursement Scenario of Biopharmaceuticals in South Africa

Supply Chain of Biopharmaceuticals

• Biopharma Manufacturing
• Advances in Biopharma Manufacturing
• Importance of Single-Use Bioprocessing in Biologics Manufacturing

Covid-19 Impact Analysis

• Possible Impact of the Covid-19 Pandemic on the Biopharmaceuticals Market
• Pre-Covid & Post-Covid Market Scenario of Biopharmaceuticals

Market Opportunities & Trends

• Promising Signs for Local Biopharmaceutical Production in South Africa
• Increased Adoption of Biosimilars
• Growth of Pharmaceutical Industry & Investment Opportunities
• Increased Access to Cgt in South Africa

Market Growth Enablers

• Prevalence of Chronic Diseases & Large Aging Population
• Top Chronic Diseases in South Africa
• Increased Focus on Precision Medicine
• Biologics Uptake & Potential in South Africa

Market Restraints

• Lack of Manufacturing Capabilities
• High Development Cost of Biologics
• Poor Patient Acceptance & Access to Biologics

Key Company Profiles

• AbbVie
• F. Hoffmann-la Roche
• GSK
• Johnson & Johnson
• Merck & Co.
• Novartis
• Novo Nordisk
• Pfizer
• Sanofi

Other Prominent Vendors

• Amgen
• Biocon
• Biogen
• Cipla
• Eli Lilly and Company
• Teva Pharmaceutical Industries
• Viatris

For more information about this report visit https://www.researchandmarkets.com/r/qjtirt

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