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Outlook of Pharmaceutical Exporters to Africa Within this Decade
Although pharmaceutical products are currently manufactured in countries such as South Africa, Kenya, Morocco, and Egypt, as a whole Africa currently imports more than 80% of its pharmaceuticals and medical supplies. This is an extremely unsustainable approach from both a medical and economic standpoint.
The Pharmaceutical Manufacturing Plan for Africa (PMPA) provides a roadmap to help Africa develop its own country’s pharmaceutical manufacturing and become a leading pharmaceutical exporter of generic pharmaceutical products that will rival China and India’s production.
As far back as 2007, leaders in Africa sought to address Africa’s overreliance on imports of pharmaceutical products. This led to the development of PMPA.
The goal of PMPA is to increase Pharmaceutical Manufacturing within Africa and become a leading supplier in the global Pharmaceutical Export market within this decade.
PMPA Business Plan
The PMPA provides solutions to some of the critical challenges confronting Africa’s pharmaceutical industry. Plans are underway to establish a fund for the pharmaceutical sector, which will cushion companies’ financial inadequacies during their growth. To boost local pharmaceutical production, the PMPA strongly encourages purchasing medical products solely from Africa-based companies. No single company, government department, or organization can by itself address these challenges, which is precisely why the PMPA business plan advocates for countrywide collaboration.
Current Challenges Facing Africa for Manufacturing Pharmaceuticals
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Africa currently imports more than 80% of its pharmaceuticals
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Lack of affordable financing and modern technology hampers business expansion.
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Companies cannot afford to invest in research, development, and in the protection of intellectual property.
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Unskilled labor also impedes the growth of Africa’s pharmaceutical sector as do poor procurement, supply chain systems, and policy inconsistencies in Africa’s trade, industry, health, and finance departments.
The African Continental Free Trade Area (AfCFTA)
AfCFTAwhich began in January 2021, will address the challenge of Africa’s small fragmented markets that have for a long time discouraged pharmaceutical manufacturing investors.
Leading global generic pharmaceutical manufacturers will be encouraged to build plants in Africa or partner with African pharmaceutical companies to manufacture generic products with the promise of free trade.
As a result, foreign direct investments in pharmaceutical manufacturing will increase significantly – leading to job creation, training and skills development, and the implementation of modern technology equipment and systems.
The goal of AfCFTA is to integrate 1.3 billion people and potentially 2.2 billion people by 2050 into Africa’s pharmaceutical industry. Pharmaceutical exports from Africa can be expected to enjoy significant growth over the next decade.
As one of the leading pharmaceutical exporters to Africa and the Middle East, ANP Pharma maintains high levels of standards and a team comprising of the most experienced certified pharmacists. Contact ANP Pharma to export pharmaceutical products to Africa and the Middle East today!
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