Ghana's Pharmaceutical Sector: A Comprehensive Market Analysis
- The Trade Adviser
- May 17, 2024
- 1 min read
Updated: Jun 4
Sector Overview: The Rise of a Vital Industry
Ghana's pharmaceutical sector is a dynamic and rapidly growing industry, vital to the nation's healthcare system and economic development. The market, valued at approximately USD 586 million in 2019, has been steadily expanding at a rate of around 5.3% annually. This robust growth is fueled by a confluence of factors, including a burgeoning population, rising incomes, increasing health awareness, and the government's proactive measures to enhance healthcare infrastructure and access.
With a population projected to exceed 32 million by 2024, Ghana's demand for pharmaceuticals is poised to increase significantly. The expanding middle class, with higher disposable incomes and greater awareness of health issues, is driving the demand for quality medicines and healthcare services. The government's commitment to improving healthcare infrastructure, coupled with its efforts to position Ghana as a pharmaceutical hub for West Africa, further reinforces the sector's growth trajectory.
