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The Pharmaceutical Market: Nigeria

Published 28 January 2014

  • 119 pages
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The Pharmaceutical Market: Nigeria

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales, 2009-2017
15
Healthcare Market Forecast
15
Table: Overall Healthcare Expenditure, 2009-2017
18
Table: Government Healthcare Expenditure, 2009-2017
18
Table: Private Healthcare Expenditure, 2009-2017
19
Economic Outlook
19
Table: Nigeria - Economic Activity
24
Prescription Drug Market Forecast
25
Table: Prescription Drug Sales, 2009-2017
26
Patented Drug Market Forecast
26
Table: Patented Drug Market, 2009-2017
28
Generic Drug Market Forecast
28
Table: Generic Drug Sales, 2009-2017
29
OTC Medicine Market Forecast
29
Table: OTC Medicine Sales, 2009-2017
31
Pharmaceutical Trade Forecast
31
Table: Pharmaceutical Trade, 2009-2017
32
Other Healthcare Data
33
Key Risks To BMI's Forecast Scenario
34
Industry Risk Reward Ratings
35
Table: Middle East And Africa Pharmaceutical Risk / Reward Ratings, Q213
35
Rewards
36
Risks
37
Market Overview
39
Industry Trends And Developments
41
Epidemiology
41
Maternal And Child Health
42
Non-Communicable Diseases
43
Communicable Disease
43
Healthcare Financing
45
Healthcare Provision
46
Health Insurance
48
Traditional Medicine
50
Telemedicine
51
Research & Development
52
Clinical Trials
53
Regulatory Development
55
Regulatory Regime
55
Regulatory Regime
55
Regulatory Developments
56
Intellectual Property Regime
57
Pricing And Reimbursement Regime
59
National Drug Policy
60
Medical Tourism
62
Competitive Landscape
64
Domestic Pharmaceutical Sector
65
Foreign Pharmaceutical Sector
68
Foreign Company Developments
69
Pharmaceutical Distribution
70
Company Profile
72
Nigerian-German Chemicals (NGC)
72
Emzor
75
Fidson Healthcare
78
May & Baker
81
Neros Pharmaceuticals
84
Drugfield Pharmaceuticals
86
Neimeth Pharmaceuticals
88
Pfizer
91
Novartis
94
Sanofi
96
GlaxoSmithKline
98
Merck & Co
101
Demographic Forecast
103
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
104
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
105
Table: Nigeria's Key Population Ratios, 1990-2020
106
Table: Nigeria's Rural And Urban Population, 1990-2020
106
Methodology
107
Methodology
107
Risk/Reward Ratings Methodology
107
Ratings Overview
108
Table: Pharmaceutical Business Environment Indicators
108
Weighting
109
Table: Weighting Of Components
109
Sources
109
Glossary
110
Nigeria Pharmaceuticals & Healthcare Report

We acknowledge the Nigerian government's endeavours to crack down on counterfeit drugs and reduce medical tourism out of the country, in addition to achieving, in our view, 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. Poor infrastructure, 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. In the pharmaceuticals sector, BMI maintains the view that strong growth lies ahead, based on the rapidly growing population and emerging middle class, though high unemployment and low per capita spending, in addition to weak regulatory and intellectual property (IP) laws, are significant risks to the uptake of medicines in the country.

Headline Expenditure Projections

Pharmaceuticals: NGN143.65bn (US$921mn) in 2011 to NGN166.82bn (US$1.05bn) in 2012; +16.1% in local currency terms and +14.1% in US dollar terms. Forecasts are slightly lower than in Q4 12 due to downward revision to GDP growth forecasts for 2012 and 2013.

Healthcare: NGN1,592.71bn (US$10.22bn) in 2011 to NGN1,751.29bn (US$11.04bn) in 2012; +10.0% in local currency terms and +8.0% in US dollar terms. Forecasts are slightly lower than in Q4 12 due to downward revision to GDP growth forecasts for 2012 and 2013.

Medical devices: NGN30.00bn (US$192mn) in 2011 to NGN35.42bn (US$223mn) in 2012; +18.1% in local currency terms and +16.0% in US dollar terms . Forecasts are slightly lower than in Q4 12 due to downward revision to GDP growth forecasts for 2012 and 2013.

Competitive Landscape

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

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