Nigeria Pharmaceutical Market Outlook: Market Segmentation By Type, & by Region with Forecast 2017-2030

Nigeria Pharmaceutical Market Outlook 2017-2030 || 2024 Edition

Market Overview

Polio, now eradicated from many parts of the world, is still endemic in Nigeria and outbreaks also occur in other African countries. Nigeria has banned the import of pharmaceutical products through all land borders with the aim of eliminating the inflow of substandard and counterfeit products. Pharmaceutical products can only be imported through the approved ports/channels.

Goldstein Market Intelligence analyst forecast the Nigeria pharmaceuticals market size is set to grow at a CAGR of 9.1% over the forecast years of 2017-2030.

Nigeria Pharmaceutical Market Segmentation

By Type

• Active Pharmaceutical Ingredients (APIs)

• Branded
• Generics

• Contract Research and Manufacturing Services
• Formulations (CRAMS)

• Chronic

• Cardiovascular
• Anti-Diabetes
• Gastro Intestinal
• Neurological

• Acute

• Anti-infectives
• Respiratory
• Pain
• Gynecology

• Biosimilars

Key Benefits: Nigeria Pharmaceutical Market Outlook, 2017-2030 (2020 Edition)

· The report includes Pharmaceutical Manufacturers, Pharmaceutical Salt Manufacturers Outlook, Contract Manufacturers, Exporter & Importers Outlook (Market Competition & Global Presence), Business Strategy & Financial Analysis of Major Players. Further, the study also covers the Industry Insights (Future Trends & Forecast Data), Trade Data (Exports and Imports), By Pharmaceuticals​ Type, Manufacturing & Retailing Outlook

• • Market Size (USD Billion), Market Share (%), CAGR (%), Y-O-Y Growth Rate (%) of Nigeria Pharmaceutical Industry and further it bifurcated into Provinces/States, 2017-2030
  • Sales Data of Pharmaceutical Products : By Each Drugs Type, By Molecule Type By Brands, By Manufacturers Type, By Distribution Channels, By Provinces/States (By Volume & Value), 2017-2030
  • Manufacturing Outlook : Manufacturers Outlook, Manufacturing Capacity, Operational Margin, Major Manufactured Pharmaceutical Products, Contract Manufacturers, Major Manufacturers & their Supply Chain, etc., 2017-2030
  • Brands Outlook : Revenue Share (%) of Players By Drugs Type, Market Positioning, Ranking Analysis, Product Portfolio, Competitiveness, Regional Presence, No. of Products, Investments, Pipeline Products Partnerships & Collaborations, Mergers & Acquisitions, etc., 2017-2030
  • Consumer Analysis Outlook : Consumer Preferences of Pharmaceutical & Brands, Consumer Spending, Demand from Consumers By Therapeutic Areas, Average Spending Power, Adoption Rate (%), Penetration Rate (%), etc., 2017-2030
  • Nigeria Healthcare Industry Outlook : Healthcare Expenditure, Healthcare Reforms, Healthcare Facilities, Govt. & Private Investments, R&D, Healthcare Structure, (Current & Future Outlook), 2017-2030
  • Market Dynamics : Growth Drivers, Challenges, Opportunities, Trends, SWOT Analysis, Porter's Five Force Model, PESTLE Analysis, etc., 2017-2030
  • Trade Data of Pharmaceuticals​ (Export & Import): By Each Segment, By Countries, 2017-2030
  • Supply & Demand Analysis : By Each Drug Type, By Molecule/Salts Type, By Countries, 2017-2030
  • Target & Potential Markets : By Pharmaceutical Products, By African Countries, 2017-2030
  • Nigeria Pharmaceutical​ Industry Analysis (Pharmaceutical​ Manufacturers, New Products, Ongoing Researches, Pipeline Products, Government Regulations, Investments, Healthcare Industry Outlook, etc.)

According to our global market study on the basis of extensive primary and secondary research: “One trend is maturing of the business environment. For instance, country-specific labeling is required in some countries striving to reduce counterfeiting and parallel imports: all drugs in Nigeria must carry a local address on their packaging.”

According to the report, major driving factor for Nigeria pharmaceutical market is Nigerian government’s endeavors to crack down on counterfeit drugs and reduce medical tourism out of the country, in addition to achieving, the overly ambitious goal of relaunching the National HIV Vaccine Plan. However, BMI maintains that the government needs to address fundamental issues in the healthcare sector as a first priority.

Based on healthcare financing, healthcare spending in Nigeria is predominantly a private affair, with out-of-pocket spending accounting for 70% of total health expenditure in 2016, compared with just 7 % in South Africa. Private health insurance accounts for about 5% of this expenditure, compared with 45% in South Africa.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

On the basis of type, the anti-infective therapeutic segment will lead the total pharmaceutical with 45% market share as malaria is responsible for 60% of all outpatient attendance, 30% of all hospital admissions and 300,000 deaths annually.

Market Growth Drivers and Restraints

Further, the report states that the major challenge in Nigeria pharmaceutical market is poor infrastructure, counterfeit drugs, a brain drain of health professionals and inadequate funding of the public system mean enrolment in the sector will continue to be slow, hindering growth in the market.

Lack of national distributor in order to distribute drugs throughout the country, 36 states have around 300 drug importers (financially strong distributors are the importers) & these importers flood the product in the whole sale market, the retailers come to buy the products from the whole sale market, importers also supply directly to big retailers & hospitals.

Covered In This Nigeria Pharmaceutical Market Report

The report covers the present ground scenario and the future growth prospects of Nigeria pharmaceuticals market for 2017-2030 and statistics of branded and generic Drugs along with the details of ongoing projects in pharma sector in Nigeria. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe.

Nigeria Pharmaceuticals Market Outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Nigeria pharmaceuticals market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Nigeria Pharmaceutical market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Thematic Research on Impact of COVID19 on "Nigeria Pharma Industry" 

Impact of COVID-19 Outbreak on Pharmaceutical Industry, Manufacturers, Contract Manufacturers Suppliers and Recovery Strategy. A complete detailed chapter of 50-70 pages which includes the data and information focused on impacts of the pandemic on the Nigerian Pharma Industry. It also showcases the expected recovery schedule and losses in the industry and other various major factors. 

Key Market Players

Our Nigeria Pharmaceutical market report comprises of the following companies as the key players in the market:

• Sun Pharma
• Cipla
• Candila. Glenmark
• Glaxo Smithkline
• Abbott Nigeria
• Biocon
• Jubilant life
• Sanofi Nigeria
• Elys
• Pfizer
• Cosmos
• Bayer
• Emzor
• Fidson
• Dawa
• Regal
• Lab and Allied
• Roche
• AstraZeneca
• Merck.

• Report details are mentioned below :

  • Report Type : Detailed-Analysis of Nigeria Market & Players (Detailed-Country Analysis)
  • Report Formats : PDF (Print-Friendly Version), Power Point Presentation, Master Excel Data Pack (Excel Format)
  • Report Pages : 550+
  • Updated Data : Till April 2020
  • Data Available : Historical Analysis (2017-2019), Current Year Data (2020), Forecast (2021-2030) Updated Version
  • Research Methodology Used : Primary Research & Secondary Research
  • Database Used : Pharmaceuticals Industry Database (Nigeria-Africa)
  • Additional Data Delivery : Second Financial Quarter (Q2)-2020

Key questions answered in this Nigeria Pharmaceuticals Market report

• What is the total market size by 2030 and what would be the expected growth rate market?
• What is the revenue of Nigeria Pharmaceuticals in 2017-19 and what would be the expected demand over the forecast period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

We can provide two hour complimentary interaction with our analyst after the purchase of this market report. Details are imparted within the report.