Pharmaceuticals - Kenya

Kenya

Kenya's Pharmaceuticals market is expected to reach a revenue of US$525.40m in 2024.
Among the various markets, the largest market in Kenya is Oncology Drugs, with a projected market volume of US$94.88m in 2024.
Looking ahead, the Pharmaceuticals market is anticipated to grow at an annual growth rate (CAGR 2024-2028) of 5.37%, resulting in a market volume of US$647.70m by 2028.
When compared globally, United States is expected to generate the highest revenue, with a projected revenue of US$636.90bn in 2024.
Kenya's pharmaceutical market is witnessing a surge in demand for locally produced generic drugs.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

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Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Kenya has been experiencing steady growth over the years.

Customer preferences: Customers in Kenya have shown a preference for generic drugs over branded drugs due to their affordability. This preference is driven by the high cost of living and the low purchasing power of the majority of the population. Additionally, customers in rural areas prefer purchasing drugs from local pharmacies due to their proximity and accessibility.

Trends in the market: One of the major trends in the Pharmaceuticals market in Kenya is the increasing demand for chronic disease medication. This is due to the rising prevalence of non-communicable diseases such as diabetes and hypertension. Another trend is the increasing investment by multinational pharmaceutical companies in the country. This is driven by the growing middle class and the expanding healthcare sector.

Local special circumstances: One of the unique circumstances in the Kenyan market is the dominance of the public sector in the distribution of drugs. The government is the largest purchaser of drugs and is responsible for their distribution to public hospitals and clinics. However, the private sector is also growing, with an increasing number of private hospitals and clinics being established.

Underlying macroeconomic factors: The Kenyan economy has been growing steadily, with a focus on industrialization and infrastructure development. This has led to an increase in foreign investment and a growing middle class with higher purchasing power. Additionally, the government has been implementing policies aimed at improving the healthcare sector, such as the Universal Health Coverage program. These factors have contributed to the growth of the Pharmaceuticals market in Kenya.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.