South Africa’s Self-Medication & Prescription Drugs market and insights you need to know
South Africa’s Self-Medication and Prescription Drugs market is experiencing restructuring and modernization, proving that it could evolve into a promising market.
South Africa’s self-medication and Rx market reached a value of 3,8 US$ billion in 2020. The market should be worth US$ 6,2 billion at the ex-factory price in 2035. Aspen is the leading corporation with an 11.6% market share and Mylan’s Atroiza was the leader in the market amongst all South-African brands in 2018.
The growth of the OTC and pharma market will be driven by the government’s healthcare reforms, which include improving access to healthcare services by expanding National Health Insurance (NHI) coverage to the entire South-African population. The full implementation of universal healthcare coverage is expected by 2026 but will depend on political and economical factors.
South Africa is also modernising its regulatory structure to speed up drug approvals and increase foreign investment in the country. Under the old regulatory regime, drug approvals took a long time and the process was not transparent, and this led many Pharma multi-nationals to consider investing in other markets where there was greater clarity, more stream-lined processes, and less risk.
We at Chameleon Pharma Consulting Group think South Africa has a sunny future, and there’s no doubt that TRIUMPH countries will invest in South Africa. Contact us to find your best-fitting partners.
South Africa OTC and pharma market in 2035
USD 6,2 Billion
OTC and pharma market size, ex-factory
OTC and pharma market growth
South Africa in numbers
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