A new analysis from Frost & Sullivan has predicted that healthcare information technology (IT) and the pharmaceutical industry in Africa will experience substantial growth in 2016.
The new analysis, titled 2016 Africa Healthcare Industry Outlook, found that the global shift towards value-based healthcare is improving the provision of health in Africa. And increased investment in both the pharmaceutical and healthcare IT sectors will see local business flourish in South Africa, Kenya, Ethiopia and other emerging economies.
The study identified a host of factors anticipated to have a positive effect on the African healthcare industry, which includes the rising middle class, introduction of local manufacturers, and support from national governments.
Handheld medical devices, mHealth, micro health insurance, and in-country manufacture of drugs will also gain momentum, resulting in vast improvements to client care delivery models.
Frost & Sullivan says the study will assist stakeholders within industry to design solutions and strategies that efficiently meet the demands of the market.
“Despite the poor economic status of African countries, there is a collective drive to reduce and eliminate the incidence of life threatening diseases in Africa,” said Industry Analyst for Global Transformational Health at Frost & Sullivan, Aditi Bhalla.
“Key enablers for this drive will include eHealth technologies, like mHealth and point-of-care testing (POCT). mHealth and video telemedicine solutions are already being used to streamline patients’ data, while innovative, easy-to-use POCT and home diagnostic solutions assist with accelerating access to care,” continued Bhalla.
Furthermore, low-cost pharmaceutical drugs and equipment will be specifically designed for Africa and will substitute traditional, costly options. In-country production of drugs will increase, with prominent industry manufacturers and brands entering the market, leveraging joint ventures with governing bodies, and assisting in skills training of community healthcare workers for improved healthcare solutions.
“With Mega Trends analyses indicating that Africa is the only continent with the potential to achieve double-digit economic growth within the next decade, healthcare vendors, providers and regulatory bodies will do well to synchronise their services for transforming health in Africa,” said Bhalla.
“The preference for private healthcare solutions, primarily due to the increasing per capita income in sub-Saharan Africa, makes it essential for private vendors and providers to keep abreast of the changes in the industry,” noted Bhalla.
To address these needs, Frost & Sullivan’s Global Transformational Health team has created a common platform for healthcare industry stakeholders to access relevant information and strategize for a profitable future.
The 2016 Africa Healthcare Industry Outlook is part of the Advanced Medical Technologies Growth Partnership Service programme.