Pharmaceutical Market To Experience 45% CAGR Over Next 10 Years

BMI's proprietary Drug Expenditure Forecast Model reveals that the Kenyan pharmaceutical market will return to a double-digit growth rate in 2009 (in local currency terms), after declining last year. During 2008, OTC and prescription medicine sales reached a value of KES17.7bn (US$0.229bn), up from KES14.4bn (US$0.215bn) in 2007. This represented a 9.6% growth in local currency terms and a 6.7% growth in US dollar terms, down from the 13.2% and 21.5% growth rates achieved during 2007.

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