"Ghana Pharmaceuticals & Healthcare Report Q2 2016" now available at Fast Market Research

The Ghanaian government is actively making progress towards fulfilling its ambition of being the Economic Communities of West African States (ECOWAS) hub for pharmaceutical and healthcare investment. Domestic drugmakers are in a favourable position to take advantage of the growing regional demand for medicines, while the government, in association with foreign aid agencies, is continuing to upgrade local export capacities. The larger domestic manufacturers will look to gain WHO certification and fulfilment of export potential needs for Good Manufacturing Practice certification. This would allow Ghana to reduce its unsustainable reliance on imported pharmaceuticals, however cheaper generic imports threaten the competitiveness of Ghanaian domestic drug manufacturers on a domestic and regional scale.

Full Report Details at
- http://www.fastmr.com/prod/1123431_ghana_pharmaceuticals.aspx?afid=301

Headline Expenditure Projections

Pharmaceuticals: GHS1.18bn (USD311mn) in 2015 to GHS1.37bn (USD340mn) in 2016; +16.3% in local currency terms and +9.5% in US dollar terms. Forecast unchanged from Q 116 .
Healthcare: GHS6.60bn (USD1.74bn) in 2015 to GHS7.47bn (USD1.86bn) in 2016; +13.3% in local currency terms and +6.6% in US dollar terms. Forecast in line with Q 4 15.

Risk/Reward Index

In our Q216 Pharmaceutical Risk/Reward Index (RRI) Ghana's score of 38.2 out of 100 marks a considerable improvement from its score last quarter of 33.6, despite remaining below the regional average of 41.3. It is ranked as the seventh most attractive market in Africa, and has improved its position to 17th place out of 31 countries analysed in the whole Middle East and Africa (MEA) region. The depreciating Ghanaian cedi is having a negative impact on short-term pharmaceutical market growth, which hinders the country's position on our index. An improving economic outlook in 2016 will provide some momentum for pharmaceutical market growth in Ghana.

Latest Updates

In January 2016, the Pharmaceutical Manufacturers Association of Ghana praised the government's commitment to enhancing the business of local drug manufacturing companies, after granting USD26mn (GHS103mn) to domestic pharmaceutical companies as part of the Export Trade, Agricultural and Industrial Development Fund (EDAIF).

In January 2016, Ghanaian health authorities commenced mass vaccination to contain the spread of Pneumococcal Meningitis.

In January 2016, Ernest Chemists donated five thousand vials of drugs, worth GHS30,000, for the treatment of pneumococcal meningitis in the Brong Ahafo and three Northern regions of Ghana.

BMI Economic View

An uptick in investor sentiment, the launch of the TEN oilfields and the waning of the electricity crisis will lead to an uptick in real GDP growth in Ghana in 2016, following two years of macroeconomic turmoil. We forecast expansion of 4.9%and 5.8% in 2016 and 2017, respectively.

BMI Political View

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