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The Pharmaceutical Market: Nigeria

Published 26 January 2015

  • 119 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 Market Forecast
23
Table: Generic 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 Forecasts (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
Nigeria- Security Issues To Weigh On Northern Consumption
32
Table: Economic Activity (Nigeria 2009-2018)
37
Industry Risk Reward Ratings
38
Middle East & Africa Risk/Reward Index
38
Nigeria Risk/Reward Ratings
45
Rewards
45
Risks
46
Market Overview
47
Industry Trends And Developments
48
Epidemiology
48
Maternal And Child Health
49
Non-Communicable Diseases
50
Communicable Disease
50
Healthcare Sector
52
Healthcare Sector Developments
52
Healthcare Financing
53
Healthcare Provision
54
Health Insurance
56
Traditional Medicine
58
Telemedicine
59
Research & Development
60
Clinical Trials
60
Regulatory Development
62
Regulatory Regime
62
Domestic Drugmakers
63
Intellectual Property Regime
63
Pricing And Reimbursement Regime
66
National Drug Policy
67
Medical Tourism
67
Competitive Landscape
69
Domestic Industry
70
Foreign Industry
72
Pharmaceutical Distribution
74
Company Profile
77
Nigerian-German Chemicals (NGC)
77
Emzor Pharmaceutical Industries
80
Fidson Healthcare
82
May & Baker
85
Neros Pharmaceuticals
87
Drugfield Pharmaceuticals
89
Neimeth Pharmaceuticals
91
Pfizer
94
Novartis
97
Sanofi
99
Merck & Co
101
GlaxoSmithKline
103
Demographic Forecast
106
Demographic Outlook
106
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
107
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
108
Table: Nigeria's Key Population Ratios, 1990-2020
109
Table: Nigeria's Rural And Urban Population, 1990-2020
109
Glossary
110
Methodology
112
Pharmaceutical Expenditure Forecast Model
112
Healthcare Expenditure Forecast Model
112
Notes On Methodology
113
Risk/Reward Index Methodology
114
Index Overview
115
Table: Pharmaceutical Risk/Reward Index Indicators
115
Indicator Weightings
116
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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