IVORY COAST PHARMACEUTICAL MARKET

KEY FINDINGS

• Life expectancy of Ivorians - a key indicator of health - was seventh lowest in the world in 2018, at 57.4 years according to World Development Indicators data.
• The prices of medicines are high in the country, with a research paper by the African Economic Research Consortium (AERC) indicating it may be one main deterrent of seeking health care.
• Consultations revealed that the country is believed to have potential to develop the sector, both in terms of generic drugs and in terms of natural plant-based medicines.
• The prevalence of chronic diseases such as diabetes, hypertension, and cancer is on the rise in the Ivory Coast. This is driving up demand for medications to treat these conditions.
• The Ivory Coast's middle class is growing, and this is leading to an increase in disposable income. This is giving more people the ability to afford pharmaceuticals.
• The Government of the Ivory Coast is taking steps to improve access to pharmaceuticals. This includes investing in healthcare infrastructure and providing subsidies for medications.
• The Ivory Coast is becoming increasingly urbanized, and this is leading to a concentration of people in cities. This is making it easier for pharmaceutical companies to distribute their products.
• The largest segment by product type is generics, which accounted for 60% of the market in 2022.
• The largest segment by distribution channel is retail pharmacies, which accounted for 45% of the market in 2022. 
• The largest segment by end-user is hospitals, which accounted for 35% of the market in 2022.
• High prevalence of counterfeit drugs. Counterfeit drugs are a major problem in the Ivory Coast. This can make it difficult for patients to access genuine medications.
• Intellectual property protection is weak in the Ivory Coast. This can make it difficult for pharmaceutical companies to protect their patents and trademarks.

MARKET OVERVIEW

France supplied most pharmaceutical products to the region, holding 31% of the market, followed closely by India with 28%.

Ivory Coast is the 58th top supplier country of pharmaceuticals to ECOWAS, having sold 533,000 USD of Pharmaceutical goods to the region in the last year. This puts it 6th in the ranking of ECOWAS countries’ market share in the same region, with Senegal, Mali, Togo, Nigeria, Ghana ahead of Ivory Coast.

The regional demand for pharmaceuticals is growing faster than the demand for other manufactured goods (3.6% and 0.7% respectively in ECOWAS), highlighting the dynamism of the pharmaceuticals market and offering opportunity for market entry.

The government of the Ivory Coast is investing in healthcare infrastructure. This is creating new opportunities for pharmaceutical companies to partner with hospitals and clinics.

The government is working to improve the supply chain for medications. This will help to ensure that medications are available and affordable to the population.

Intellectual property protection is weak in the Ivory Coast. This makes it difficult for pharmaceutical companies to protect their patents and trademarks, which can discourage them from investing in the country.

The level of pharmaceutical literacy in the Ivory Coast is low. This means that many people do not understand the importance of using genuine medications and may be more likely to use counterfeit drugs.

The pharmaceutical market in the Ivory Coast is not transparent. This can make it difficult for patients to make informed decisions about their medications.

There is a growing focus on personalized medicine in the Ivory Coast, as healthcare providers are becoming more aware of the importance of tailoring treatment to the individual patient. This is expected to drive demand for specialized medications and diagnostics.

INTRODUCTION

UNIDO and the West African Health Organization (WAHO) signed a Relationship Agreement in May 2019 which ensures a long-term collaboration between the two organizations. The aim is to implement the regional pharmaceutical upgrading framework which was validated in 2018 and more generally support the development of the sector.

The White Book of the Confédération Générale des Entreprises de Côte d’Ivoire (CGECI) notes that there is weak collaboration between the pharmaceuticals sector and research, and a lack of equipment in laboratories, resulting in the underdevelopment of local capacities. 

Ivory Coast has worked to support domestic pharmaceutical production.There are numerous pharmaceutical firms operating in the nation that create a range of pharmaceutical goods, including generic medications, medical equipment, and cosmetics.

Even though local production has increased, Ivory Coast still imports a sizable share of its pharmaceutical goods, including both finished goods and active pharmaceutical ingredients (APIs).The need for a variety of healthcare items is met in part by imported pharmaceuticals.

In Ivory Coast, logistics for distributing pharmaceutical supplies might be difficult, particularly in outlying and rural areas.Pharmaceutical distribution occurs nationwide through a number of public and commercial sector organizations.

There is a growing demand for preventive care in the Ivory Coast, as people are becoming more aware of the importance of preventing diseases. This is expected to drive demand for pharmaceuticals that can be used to prevent diseases, such as vaccines and medications for the treatment of high blood pressure and cholesterol.

IVORY COAST PHARMACEUTICAL MARKET SIZE AND FORECAST

The Ivory coast pharmaceutical market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

TRENDS IN IVORY COAST PHARMACEUTICAL MARKET

The Ivory Coast government launches a new campaign to raise awareness of the dangers of counterfeit drugs. The campaign is targeting young people, who are particularly vulnerable to the use of counterfeit drugs.

The Ivory Coast government is encouraging the development of the local pharmaceutical industry by providing incentives for local manufacturers. The government is hoping that this will lead to the production of more affordable and accessible medications for the Ivorian population.

The Ivory Coast government announces plans to invest $100 million in the pharmaceutical industry over the next five years. The investment will be used to develop the country's pharmaceutical manufacturing capacity and improve access to essential medicines.

A new report from the World Health Organization (WHO) finds that the Ivory Coast is making progress in improving access to healthcare. The report cites the government's investment in healthcare infrastructure and its efforts to combat counterfeit drugs as examples of progress.

NEW PRODUCT LAUNCH IN IVORY COAST PHARMACEUTICAL MARKET

Bayer launches a new treatment for hemophilia A in the Ivory Coast. The new treatment is expected to help prevent bleeding episodes in people with hemophilia A. 

Merck launches a new vaccine for human papillomavirus (HPV) in the Ivory Coast. The new vaccine is expected to help prevent HPV-related cancers, such as cervical cancer. 

AstraZeneca launches a new treatment for asthma in the Ivory Coast. The new treatment is expected to help control asthma symptoms and improve quality of life. 

GlaxoSmithKline launches a new treatment for chronic obstructive pulmonary disease (COPD) in the Ivory Coast. The new treatment is expected to help improve lung function and reduce the risk of exacerbations.

Pfizer launches a new vaccine for pneumococcal disease in the Ivory Coast. The new vaccine is expected to help protect children from pneumococcal disease, which can cause pneumonia and meningitis.

IVORY COAST PHARMACEUTICAL MARKET SEGMENTATION

By Product Type

• Branded Drug
• Prescription drugs
• Generic Drug
• Over-the-Counter (OTC) Drugs

ByDistribution Channel

• Retail pharmacies
• Hospitals
• Wholesalers

By End-User

• Hospitals
• Retail pharmacies
• Outpatient clinics
• Other healthcare institutions

By Geographic Region

• Abidjan
• Other urban areas
• Rural areas
  
  

COMPANY PROFILE

• Nouvelle Pharmacie de la Côte d'Ivoire (NPCI)
• CFAO
• CIPHAR
• UNIPHAR
• Pharmacie Centrale de Côte d'Ivoire (PHARCO CI)
  
  

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the size and growth rate of the Ivory Coast pharmaceutical market?
2. What are the key factors driving the growth of the Ivory Coast pharmaceutical market?
3. What are the challenges facing the Ivory Coast pharmaceutical market?
4. What are the opportunities for pharmaceutical companies in the Ivory Coast pharmaceutical market?
5. How is the Ivory Coast pharmaceutical market segmented by product type?
6. How is the Ivory Coast pharmaceutical market segmented by distribution channel?
7. How is the Ivory Coast pharmaceutical market segmented by end-user?
8. How is the Ivory Coast pharmaceutical market segmented by geographic region?
9. Who are the top 10 pharmaceutical players in the Ivory Coast pharmaceutical market?
10. What are the market shares of the top 10 pharmaceutical players in the Ivory Coast pharmaceutical market?
11. What are the strengths and weaknesses of the top 10 pharmaceutical players in the Ivory Coast pharmaceutical market?
12. What are the opportunities and threats facing the top 10 pharmaceutical players in the Ivory Coast pharmaceutical market?
13. What initiatives is the government of the Ivory Coast taking to improve access to pharmaceuticals?
14. What challenges is the government of the Ivory Coast facing in its efforts to improve access to pharmaceuticals?
15. What are the recent trends in the Ivory Coast pharmaceutical market?
16. What are the opportunities and threats associated with these trends for pharmaceutical companies?
17. What are the new product launches in the Ivory Coast pharmaceutical market?
18. What impact are these new products having on the Ivory Coast pharmaceutical market?
19. What opportunities do these new products present for pharmaceutical companies?
20. What is the future outlook for the Ivory Coast pharmaceutical market?
21. What are the key factors that will shape the future of the Ivory Coast pharmaceutical market?
22. What are the opportunities and challenges that pharmaceutical companies can expect in the Ivory Coast pharmaceutical market in the future?