Pharmaceutical spending in Africa is growing at a phenomenal rate and is expected to reach $30 billion by 2016.
Kenya is currently the largest producer of pharmaceutical products in the Common Market for Eastern and Southern Africa (COMESA) region, supplying about 50% of the regions’ market. The country’s pharmaceutical and consumer health market is estimated to be worth an estimated USD 160 million each year. By 2014, the Kenyan drug market is expected to hit a value of KES33.5 billion.
These are approximate 80 Pharmaceutical manufacturing units in Kenya, Tanzania, Uganda & Ethiopia.
Kenya has 22 research institutes, 47 universities and many technical colleges. Kenya is among the top ranking campus in the field of basic research in East Africa Countries. Tanzania have 119 universities, research institute and college while 36 universities in Uganda.
Kenya medical device market is expected to grow by a CAGR of 14.4% over the 2013-2018 period, alongside impressive GDP growth and strengthening imports. Almost all medical device are imported, as domestic production is limited to basic consumable items, a situation that is expected to remain unchanged for the foreseeable future. Demand for medical devices remains high as many facilities require modernization. In 2013, the Kenyan medical device market was estimated at US$ 122.7mn, the market is expected to expand at a CAGR of 14.4% over the 2013-2018 period, reaching US$ 241 mn by 2018.
Around 95% of the medical device market is supplied by imports. Kenya imported medical devices valued at US$ 129.9 mn in 2013; this represented an increase of 46.6% over 2012 and a 2008-2013 CAGR of 18.9%. in the 12 months to june 2014, imports decreased by 1.9%, to US$ 106.9 mn. Kenya exports very little medical equipment, although the total increased by nearly four times from the USD 2.5 mn recorded in 2003 to USD 9.3 mn in 2013. In Kenya, increased public and private expenditure on healthcare, coupled with increasing levels of medical insurance coverage and continued foreign donor funding, are creating significant opportunities for growth within the Kenyan pharmaceutical and medical devices industries.
Food & Agriculture
The Kenyan food-processing sector, including food, beverages & tobacco, remains the largest component of the manufacturing industry.