The 2013 market for prescription and over-the-counter drugs in Africa was $20.8 billion, more than quadrupling since 2003. One of the fastest-growing regions globally, the continent is expected to increase its GDP by 37% to $3.3 trillion between 2013 and 2020. Its pharmaceutical market is estimated to grow total $40–$60 billion by 2020, with a compound annual growth rate (CAGR) between 2010 and 2020 of 9.8%. Growth is projected in each segment of the market: generic, prescription and over-the-counter drugs, and medical devices. With a CAGR of 22.3% between 2004 and 2011, the market share for generics has experienced a notably faster rise than the 13.4% growth for the market as a whole. While a rapid increase of the overall pharmaceutical market is forecast, Africa, with its 54 countries, is not a single market. For example, only 10 countries—Algeria, Egypt, Kenya, Ivory Coast, Libya, Morocco, Nigeria, South Africa, Sudan and Tunisia—make up 70% of the pharmaceutical market.

Source: McKinsey&Company