West Africa Pharma Healthcare Exhibition to take place in Ghana

CEO of FOAMDDMS Mr. Anthony K. Ameka has said E-pharmacy and digital health solutions offer unprecedented opportunities to overcome obstacles, improve patient outcomes, and revolutionize healthcare provision worldwide.

Speaking at the launch of the West Africa Pharma and Healthcare Expo 2024 Mr. Ameka said, the “theme” for this year’s expo and seminars, “E-Pharmacy & Digital Health,” underscores the importance of embracing technological advancements to enhance the efficiency, accessibility, and affordability of our healthcare systems.

According to Mr. Anthony Ameka, Said, Mobile phone penetration in West Africa is over 80%, providing a significant platform for delivering digital health services. The global digital health market is expected to grow substantially from USD 100.6 billion in 2020 to USD 285.7 billion by 2026, with a compound annual growth rate (CAGR) of 13.7%. In Africa, the digital health market is estimated to be approximately $1.5 billion, while Ghana’s market is valued at around $60 million.

He said the e-pharmacy sector is experiencing rapid growth globally, with a market size of approximately USD 42.32 billion in 2021. Africa’s e-pharmacy market is projected to reach USD 1.5 billion, with Ghana estimated at around USD
50 million, and a projected CAGR of over 15% from 2021 to 2026.

These trends indicate a significant shift towards digital healthcare solutions and present opportunities for investment and innovation in the healthcare sector. The implication to West Africa and Ghana.

He added that the growth in the digital health sector presents both challenges and opportunities for West Africa. The above highlights the importance of collaboration, regulatory frameworks, and digital literacy to maximize the benefits of digital health solutions in the region.

This growth also underscores the potential for investment and innovation in Ghana’s healthcare sector, particularly in digital health startups, technology infrastructure, and healthcare facilities equipped with digital solutions.

He said, investing in digital literacy programs, regulatory frameworks, and cybersecurity measures is crucial to support the sustainable adoption of digital health initiatives in Ghana. The expansion of the digital health market in Ghana offers investors the opportunity to contribute to improving healthcare access, quality, and affordability while achieving attractive returns on investment.