Research and Markets (http://www.researchandmarkets.com/research/e7b41e/kenya_pharmaceutic) has announced the addition of the "Kenya Pharmaceuticals and Healthcare Report Q1 2010" report to their offering.
Kenya Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Kenya's pharmaceuticals and healthcare industry.
The proprietary Drug Expenditure Forecast Model reveals that the Kenyan pharmaceutical market will return to a double-digit growth rate in 2009 (in local currency terms), after declining to single-digit growth the previous year. During 2008, OTC and prescription medicine sales reached KES17.7bn (US$0.229bn), up from KES14.4bn (US$0.215bn) in 2007. This represented a 9.6% growth in local currency terms and a 6.7% growth in US dollar terms, down from the 13.2% and 21.5% growth rates achieved during 2007. By 2014, the authors believe that the Kenyan drug market will reach a value of KES33.48bn (US$0.650bn), equating to a compound annual growth rate (CAGR) of 13.53% in local currency terms and 22.8% in US dollar terms. By 2019, the authors expect the pharmaceutical market to have reached a value of KES57.2bn (US$1.49bn), a 2009-2019 CAGR of 26.35% in Kenyan shilling terms and a staggering 45.0% in US dollar terms.
In Business Environment Ratings for Q110, despite Kenya's overall pharmaceutical rating improving marginally to reach a value of 33.8, compared with its Q409 rating of 32.2, the East African country has dropped one place in the Middle East and Africa (MEA) region to 16th place. Kenya is therefore above Zimbabwe, but below Algeria and Nigeria. Globally, Kenya is ranked in 70th position (also falling one place in Q110).