Press release
Research Report and Overview on Zimbabwe Pharmaceutical Market, 2022-2028
The Zimbabwe Pharmaceutical Market is expected to grow at a significant growth rate over the analysis period 2022-2028, considering base year as 2021.
The COVID-19 has a substantial effect on Zimbabwe's pharmaceutical sector. The demand for therapies to treat COVID-19-infected individuals surged, which also resulted in a rise in the nation's large-scale pharmaceutical product manufacturing. Lockdown measures, however, damaged the supply network between Zimbabwe and other parts of the world. As a result, local producers were crucial during the COVID-19 pandemic. Numerous international market players have also expanded into Zimbabwe in an effort to profit from the expanding pharmaceutical market. Over the anticipated period, it is anticipated that the entry of international players in addition to the rise in infectious disease cases will strengthen the growth of the Zimbabwe pharmaceutical market.
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Market Dynamics:
Driver:
A growing geriatric population, an increase in the prevalence of chronic diseases like cardiovascular disease, cancer, and autoimmune diseases, increased R&D activities by key players, the introduction of new products intended to treat various illnesses, and rising public awareness of the use of prescription drugs in the nation are the main drivers. Zimbabwe's rising incidence of cancer, cardiovascular disease, and other chronic illnesses is fueling demand for cutting-edge therapies and expanding the market. According to GLOBOCAN 2020, there were 16,083 new cases of cancer and 10,676 cancer-related deaths in Zimbabwe in 2020.
Opportunities:
The Zimbabwe Pharmaceutical Industry has shown itself to be strategic in terms of addressing medication and export requirements. Under order to boost domestic manufacturing of vital pharmaceuticals, the sector has been given priority for resuscitation in the Local Content Strategy, Zimbabwe National Industrial Policy, and National Development Strategy 1 (2021-2025). Nine pharmaceutical companies make up Zimbabwe's pharmaceutical sector: Gulf Drug produces veterinary products, while CAPS Pharmaceuticals, Varichem Pharmaceuticals, Pharmanova, Datlabs, Plus Five Pharmaceuticals, ZimPharm Graniteside, and Plus Five Pharmaceuticals produce human medications. Due to the fact that they primarily produce generic medications, these companies only produce 12% of all consumed medicines.
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Market coverage
•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - By Drug Type, By Therapeutic Category, By Distribution Channel
•Competitive Landscape - Bayer AG,CAPS Pharmaceuticals, Pfizer Inc, Plus Five Pharmaceuticals, ZimPharm Graniteside, Pharmanova,
Market Segmentation
By Drug Type
• Prescription Drugs
• OTC Drugs
By Therapeutic Category
• Cardiovascular Disorders
• Anti-viral
• Respiratory Diseases
• Others
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
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By Region
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
•Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
•Bayer AG
•CAPS Pharmaceuticals
•Pfizer Inc
•Plus Five Pharmaceuticals
•ZimPharm Graniteside
•Pharmanova
•Gulf Drug
•Datlabs
•GlaxoSmithKline PLC
•Icon Pharmaceuticals
•Varichem
•Seasons Pharmaceuticals
•Graniteside Chemicals (Pvt) Ltd, and Other Major Players.
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Key Industry Developments In Zimbabwe Pharmaceutical Market
In December 2021, ViiV Healthcare, the global specialist HIV company majority-owned by GlaxoSmithKline plc (GSK), with Pfizer Inc. (Pfizer) and Shionogi Limited (Shionogi) as shareholders, announced that Apretude, the first and only long-acting injectable pre-exposure prophylaxis (PrEP) option to reduce the risk of sexually acquired HIV-1, has been approved by the US Food and Drug Administration (FDA). This drug will be available to patients in Zimbabwe.
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