Africa's Big Pharma Market To Be Worth $45bn By 2020
- Big Pharma Companies Investing In Africa Include Sanofi, Novartis and GSK
- Rise Of Chronic Diseases Increases Demand For Western Drugs
- Emerging Middle Class In Africa Sparks Pharma Growth
Recent reports suggest that big pharmaceutical companies are setting their sights on the African continent. The continent’s economic growth has been grabbing headlines in recent months and consequently Africa’s middle class has been emerging. Team this with the rise in chronic diseases and big pharma companies are taking interest.
The opportunity for pharmaceutical giants in Africa is forecasted to be worth an astonishing $45 billion by 2020 and the continent is expected to see a growth rate of 10.6 percent per annum, which puts it in line with growth in Latin America. This expected progression also makes Africa an exciting prospect for pharma companies, owing to the fact that more established emerging markets are seeing a slow-down in growth.
“We're thinking hard about what happens when those emerging starts start to slow because they are not going to continue growing at the rate that they're growing forever - and a place where we're putting a lot of our attention is Africa,” confirmed Novartis CEO Joe Jimenez.
European drug makers - including GlaxoSmithKline, Sanofi and Novartis - are investing in Africa to capture their share of the larger market. Sanofi is spending €70 million ($94.15 million) on a new plant in Algeria, while GSK just spent $98 million to raise its stake in its Nigerian consumer products unit. GSK is also working to boost its market penetration in other countries, with the goal of increasing volumes fivefold within five years, partly by keeping prices very low.
LG launches purpose-built smart TV for hospitals
LG Business Solutions USA has announced two new hospital TVs that are designed to improve patient management and engagement while adhering to critical safety standards for healthcare facilities.
One of the TVs is LG's biggest ever screen for a hospital - the 65-inch 4K Ultra HD model. It has LG’s NanoCell display technology, enabling it to display vivid pictures, and provides built-in support for hospital pillow speakers and embedded broadband LAN capability, so hospitals can deliver video on demand without requiring a separate set-top box in the patient room.
It also includes configuration software with an intuitive interface for setting up the TV to work in a hospital setting, plus a software-enabled access point feature that turns the TV into a Wi-Fi hotspot.
The second TV screen is the 15-inch Personal Healthcare Smart Touch TV with a multi-touch screen. It is designed to be installed on an adjustable arm for use in shared spaces or smaller patient rooms and will support LG's new, modular LG AM-AC21EA video camera, and HD video communication.
Both include support for video conferencing, and are UL Certified for use in healthcare facilities, a global safety standard. They also feature LG’s integrated Pro:Centric hospital management solutions, allowing hospitals and LG’s patient engagement development partners to personalise a patient's room, providing entertainment, hospital information, services, patient education, and more.
Additionally its communication platform makes it possible to conduct video calls between patients and clinicians or family.
“Our newest LG hospital TVs reflect ongoing feedback from the industry and include capabilities integrated to meet the unique needs of a critical market” said Tom Mottlau, Director of Healthcare Solutions, LG Electronics USA.
“Our healthcare patient engagement development partners requested an upgradable version of webOS for our Pro:Centric smart TV platform so they could more easily introduce new features for their hospital customers. For the latest versions of webOS, LG worked closely with our partners to make their request a reality and to deliver a hospital TV platform that can evolve over time.”