Market Trends of Zimbabwe Pharmaceutical Industry
This section covers the major market trends shaping the Zimbabwe Pharmaceutical Market according to our research experts:
The Generic Drugs Segment Holds a Significant Share and is Expected to Continue the Trend During the Forecast Period
The major driving factors for the generic drugs segment are the rising initiatives by key players, the launch of new products aimed at treating various illnesses, the growing geriatric population, the rising prevalence of chronic diseases such as cardiovascular diseases, cancers, and autoimmune diseases, and the growing awareness about the use of prescription drugs in the country. In addition, according to the study published in Therapeutic Innovation & Regulatory Science in January 2021, more than 80% of the drugs sold in Zimbabwe are generic drugs.
The prevalence of chronic diseases such as cancers is increasing in Zimbabwe, thus boosting the demand for advanced therapeutics and driving the market segment due to the affordability of these drugs. As an example, the Zimbabwe Human Papillomavirus and Related Cancers Fact Sheet 2021 reports that there are 3,043 new instances of cervical cancer in Zimbabwe per year. The high rate of cervical cancer in the country is likely to raise the consumption of generic medications, which could boost demand within the predicted time frame.
Furthermore, in November 2022, the deputy minister of health and child care of zimbabwe urged pharmaceutical firms to encourage the manufacturing of generic medications in order to lower the cost of the nation's medical imports. Such initiatives will lead to increased production of generic drugs, thereby lead to increased adoption, driving the segment growth.
Therefore, owing to the above-mentioned factors, the generic drugs segment is expected to grow over the forecast period.
General Anti-infective Systemic Segment is Expected to Hold a Significant Share in the Market
The factors driving the growth of this segment include the rising prevalence of infectious diseases such as HIV, HPV, and TB and the rising launch of drugs for infectious diseases, among others.
According to the CDC, in 2021, the estimated prevalence of HIV in Zimbabwe among the 15-49 year age group was found to be 11.6%, and the number of adults above the age of 15 on antiretroviral therapy in 2021 was 1,136,246. Therefore, the huge prevalence of HIV and the dependence on antiviral therapy are expected to drive segment growth over the forecast period.
Furthermore, the rising approvals of antiinfective drugs in Zimbabwe are expected to drive the segment's growth. For instance, in October 2021, the Medicines Control Authority of Zimbabwe approved three private hospitals and three private pharmacies to dispense Ivermectin, a broad-spectrum anti-parasitic drug, for the prevention and treatment of COVID-19. Therefore, increasing approvals from the government of Zimbabwe are expected to drive the growth of this segment.
Thus, the rising infectious diseases and the rising approvals for anti-infective therapies are likely to boost the segment's growth over the analysis period.
