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The Pharmaceutical Market: Nigeria

Published 26 August 2014

  • 121 pages
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  • Includes 3 free updated quarterly reports
 
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The Pharmaceutical Market: Nigeria

Table of Contents

BMI Industry View
7
SWOT
9
Political
12
Economic
13
Business Environment
14
Industry Forecast
15
Pharmaceutical Market Forecast
15
Table: Pharmaceutical Sales, Historical Data And Forecasts (Nigeria 2010-2018)
16
Healthcare Market Forecast
17
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
19
Prescription Drug Market Forecast
20
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
23
Generic Drug Forecast
23
Table: Generics Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
24
OTC Medicine Market Forecast
25
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
26
Pharmaceutical Trade Forecast
27
Table: Pharmaceutical Trade Data And Forecast (Nigeria 2012-2018)
28
Table: Pharmaceutical Trade Data And Forecasts local currency (Nigeria 2012-2018)
29
Other Healthcare Data
29
Key Risks To BMI's Forecast Scenario
30
Macroeconomic Forecasts
32
Economic Analysis
32
Table: Nigeria - GDP by Expenditure
36
Industry Risk Reward Ratings
38
Sub-Saharan Africa - Infrastructure Risk/Reward Ratings
38
Table: Sub-Saharan Africa Infrastructure Risk/Reward Ratings
47
Nigeria Risk/Reward Ratings
48
Rewards
48
Risks
49
Market Overview
50
Industry Trends And Developments
52
Epidemiology
52
Maternal And Child Health
53
Non-Communicable Diseases
54
Communicable Disease
54
Healthcare Sector
56
Healthcare Sector Developments
56
Healthcare Financing
57
Healthcare Provision
58
Health Insurance
60
Traditional Medicine
62
Telemedicine
63
Research & Development
64
Clinical Trials
64
Regulatory Development
66
Regulatory Regime
66
Domestic Drugmakers
67
Intellectual Property Regime
67
Pricing And Reimbursement Regime
70
National Drug Policy
71
Medical Tourism
71
Competitive Landscape
73
Domestic Industry
74
Foreign Industry
76
Pharmaceutical Distribution
79
Company Profile
81
Nigerian-German Chemicals (NGC)
81
Emzor Pharmaceutical Industries
84
Fidson Healthcare
86
May & Baker
89
Neros Pharmaceuticals
91
Drugfield Pharmaceuticals
93
Neimeth Pharmaceuticals
95
Pfizer
98
Novartis
101
Sanofi
103
Merck & Co
105
GlaxoSmithKline
107
Demographic Forecast
110
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
111
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
112
Table: Nigeria's Key Population Ratios, 1990-2020
113
Table: Nigeria's Rural And Urban Population, 1990-2020
113
Glossary
114
Methodology
116
Pharmaceutical Expenditure Forecast Model
116
Healthcare Expenditure Forecast Model
116
Notes On Methodology
117
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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