2017 will be a more positive year for the healthcare sector as the economy begins to pickup slowly and health spending continues to grow. Establishment of the new regulatory body, South AfricanHealth Products Regulatory Authority (SAHPRA), and other regulatory developments thus far in 2017 willimprove the regulatory environment and support market growth. Domestic production will continue to growin sophistication, but the vast majority of the market will remain dependent on imports.
Latest Updates And Key Forecasts
We have revised downwards our forecasts and now project that the market will register a 2016-2021CAGR of 8.4% in local currency terms, which will raise the market to ZAR24.2bn by 2021. Marketgrowth in US dollars will be higher due to the rand forecast to regain its strength against the US dollarover the forecast period. We now anticipate a 2016-2021 CAGR of 9.5%, which will raise the market toUSD1.7bn by 2021.