The Zimbabwe Pharmaceutical Market Size Was Valued At USD 244 Million In 2022 And Is Projected To Reach USD 341.72 Million By 2030, Registering A CAGR Of 4.3% From 2023 To 2030.
Pharmaceutical products are specialized formulations used in both conventional and modern medicine. They are sometimes referred to as medications or drugs. They are essential for protecting the public's health as well as for the prevention and treatment of illness. The use of hazardous, ineffective, or low-quality medications can lead to drug resistance, therapeutic failure, and, in certain situations, even death. Additionally, it erodes confidence in medical professionals, healthcare systems, pharmaceutical manufacturers, and distributors. Therefore, strict rules are needed to stop counterfeit goods from being sold in the market. According to the 2019 United Nations World Population Ageing Report, there were 437,000 people in Zimbabwe who were 65 years of age or older in 2019; by 2050, that number is predicted to rise to 1,297,000.
Top Key Players Covered In Zimbabwe Pharmaceutical 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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The report Zimbabwe Pharmaceutical Market report provides an in-depth analysis of the Zimbabwe Pharmaceutical market, including a detailed description of market growth and size, value, and the key opportunities in the market, as well as an outline of the factors that are and will be driving the industry's growth, taking previous growth patterns into account. The global Zimbabwe Pharmaceutical market report provides an in-depth analysis of the market state of Zimbabwe Pharmaceutical manufacturers, including the latest facts and data, SWOT analysis, and expert views from around the world. The cost structure, market size, Zimbabwe Pharmaceutical Sales, Gross Margin and Market Share, Price, Revenue, Size, Forecast, and Growth Rate are all calculated in the report. The income earned from the sale of This Study and technologies by various application industries is considered in the report.
Segmentation Analysis of the Zimbabwe Pharmaceutical Market
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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Opportunities:
Government Initiatives to Support the Local Pharmaceutical Production
In terms of meeting drug and export requirements, the Zimbabwe Pharmaceutical Industry has proven to be strategic. The sector has thus been prioritized for resuscitation in the National Development Strategy 1 (2021-2025), Zimbabwe National Industrial Policy (2019 - 2023), and the Local Content Strategy to strengthen the local production of essential medicines. Zimbabwe's pharmaceutical industry is made up of nine pharmaceutical companies: CAPS Pharmaceuticals, Varichem Pharmaceuticals, Pharmanova, Datlabs, Plus Five Pharmaceuticals, ZimPharm Graniteside, and Gulf Drug, manufactures human medicines, while Ecomed manufactures veterinary products. These companies account only for 12% of the total medicines consumed as they mostly manufacture generic medicines.
By Region
- North America (US, Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
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