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New Report Available: Kenya Pharmaceuticals & Healthcare Report Q2 2014

New Healthcare research report from Business Monitor International is now available from Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 02/19/2014 -- It is vital that companies that are looking to sell non-communicable disease therapeutics work alongside the public sector and focus on physician education and patient awareness in a market that has traditionally focussed on infectious diseases such as malaria, tuberculosis and HIV. Besides challenges related to diagnosis, care and treatment, there is a lack of understanding and knowledge about diseases such as diabetes and cardiovascular disease among healthcare professionals and the general population, and a perception that such diseases are not as critical as other diseases affecting the country.

Headline Expenditure Projections:

It is vital that companies that are looking to sell non-communicable disease therapeutics work alongside the public sector and focus on physician education and patient awareness in a market that has traditionally focussed on infectious diseases such as malaria, tuberculosis and HIV. Besides challenges related to diagnosis, care and treatment, there is a lack of understanding and knowledge about diseases such as diabetes and cardiovascular disease among healthcare professionals and the general population, and a perception that such diseases are not as critical as other diseases affecting the country.

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Headline Expenditure Projections

- Pharmaceuticals: KES55.29bn (US$642mn) in 2013 to KES64.40bn (US$740mn) in 2014; 16.5% growth in local currency terms and 15.3% in US dollar terms.
- Healthcare: KES178.19bn (US$2.07bn) in 2013 to KES202.68bn (US$2.33bn) in 2014; 13.7% growth in local currency terms and 12.6% in US dollar terms.

Risk/Reward Rating: In BMI's Q214 Pharmaceutical and Healthcare Risk/Reward Ratings (RRRs), Kenya is 20th in the Middle East and Africa (MEA). A large counterfeiting industry, poor healthcare funding, corruption, regulatory deficiencies and a number of other issues will conspire to keep Kenya in a low position in the MEA matrix. Nevertheless, in comparison with many other African markets, most of which are not surveyed by BMI, Kenya offers more commercial promise and a more stable overall business environment.

Key Trends And Developments

In October 2013, German pharmaceutical company Merck KGaA set up an office in Nairobi, Kenya, aiming to increase the presence of its products in the East African pharmaceutical market. In November 2013, the Kenyan Health Sector Services Fund (HSSF) disbursed KES1.9bn (US$0.02bn) to dispensaries and health centres in Kenya. According to public health specialist Rael Mutai, county governments should be responsible for planning and budgeting funds for the successful operation of healthcare facilities. She added that the funds disbursed by the government should be considered conditional grants.

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