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Africa attracts global pharma; InformEx highlights innovations
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January 16 , 2016
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Africa, the third-largest continent in the world, housing a global population of 15 per cent, is fast becoming one of the hot spots for the global pharmaceutical companies. Driven by increasing disease burden in the developing world, the markets of Africa offer huge growth opportunities for Indian pharma. The market outlook of this region indicates higher consumption of both patented and generics medicines.
As the growth in the developed markets like USA, Europe etc. is stagnating, the companies in the life sciences, pharma and healthcare market are increasingly looking for growth in Africa.
As per a McKinsey & Company report, currently, Africa offers huge opportunities for pharma industry. The value of Africa’s pharmaceutical industry jumped to US$20.8 billion in the year 2013 from just US$4.7 billion a decade ago. At this growth rate, the African pharmaceutical industry is expected to grow to about US$40 billion to US$65 billion by the end of 2020.
At the recently-concluded third India-Africa Summit 2015 at New Delhi, India has ensured to work closely with African nations for building a regulatory framework to make pharmaceuticals accessible and affordable without compromising on quality. It has also committed to supplying quality and affordable drugs to treat HIV and extend all possible support and co-operation to Africa in fighting AIDS.
The food market in Africa is also constantly evolving with new trends influencing consumer habits. This can be capitalised by food manufacturers by catering to the changing eating habits of consumers in the region. Some of the most important trends include convenience, clear labelling, ethical consumerism and escapism and relaxation.
At the same time, the outlook for the African cosmetics, beauty and personal care products market is also very positive for the coming years. Beauty and skin care products are the fastest selling items in Africa after food. As Africa’s current population of roughly one billion people is expected to rise to 2.3 billion by 2050, it can lead to more demand for beauty and personal care products. Hence overall Africa holds huge business potential for pharma, food and cosmetic industries.
In the meanwhile, InformEx 2016, the must attend industry conference and tradeshow for the fine and speciality chemical industry and the only show of its kind in the US, is returning to New Orleans, LA, from February 2-4 and will once again foster profitable partnerships and innovation in the high-value chemical industry. InformEx caters to all industries within the fine and speciality chemicals space.
For more than 30 years, InformEx has brought together decision-makers and thought leaders to interact and drive growth in the marketplace.
The only North American conference to focus on the innovation and commercialisation of unique chemistry across all verticals, InformEx 2016, will play host to a global network of attendees and exhibitors in some of the most rapidly growing chemical markets including the broader energy field, pharmaceuticals, life sciences and agrochemicals. The event will also highlight innovative sub-segments such as green chemistry, 3-D printing and electronic chemicals.
Being the place to meet and partner with more than 2,500 key decision-makers in the fine & speciality chemicals industry, InformEx has expanded networking opportunities for the 2016 event. The event brings together an international mix of motivated buyers and sellers of high value chemistry for three days of networking, sourcing, education and innovation.
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TOPICS
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That foods might provide therapeutic benefits is clearly not a new concept. ...
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