Nigeria Pharmaceuticals & Healthcare Report Q2 2015
Headline Expenditure Projections
- Pharmaceuticals: NGN228.92bn (USD1.39bn) in 2014 to NGN253.87bn (USD1.34bn) in 2015; +10.9% in local currency terms and -4.0% in US dollar terms.
- Healthcare: NGN3,113.88bn (USD18.93bn) in 2014 to NGN3,499.99bn (USD18.42bn) in 2015; +12.4% in local currency terms and -2.7% in US dollar terms.
Nigeria's Q2 15 Pharmaceutical Risk/Reward Index (RRI) score of 37.2, places it 21stin the Middle East and Africa matrix. Nigeria is regarded as a low-reward, high-risk proposition for multinationals due to drug counterfeiting, corruption and poor pharmaceutical regulations governing the market.
Key Trends And Developments
Swiss Pharma Nigeria and May and Baker Nigeria have received the current Good Manufacturing Practice (cGMP) compliance certificate from the World Health Organization. The certification will allow the companies to enhance their production capacity and export their drugs to other countries. The development can be attributed to the Bank of Industry's (BOI) regular intervention funds to the sub-sector, which enable the companies to improve their facilities and quality control systems to international standards. About five other pharmaceutical companies supported by the BOI are also close to receiving WHO certification, according to BOI Managing Director...
The Nigeria Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Nigeria Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Nigeria pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Nigeria, to test other views - a key input for successful budgeting and strategic business planning in the Nigerian pharmaceutical and healthcare market.
- Target business opportunities and risks in the Nigerian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Nigeria.
- Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMIs forecast analysis, and taken together with BMIs political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
BMIs Pharmaceuticals and Healthcare Risk Reward Index
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per 000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
BMIs Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the markets risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMIs industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.
Nigeria's pharmaceutical and healthcare markets are vastly underdeveloped by W estern standards as poor infrastructure, a weak regulatory system and lack of specialised facilities weaken growth potential. However, the Nigerian government's continuing efforts to expand healthcare access through national health insurance by introducing mobile registration and a community-based healthcare programme will provide revenue-earning opportunities for drug-makers. We believe developments along with new efforts to reduce the volume of counterfeit medicines in circulation will help boost pharmaceutical expenditure in the country.
BMI Industry View
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Nigeria 2010-2018)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Nigeria 2010-2018)
Prescription Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Nigeria 2010-2018)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Nigeria 2012-2018)
Table: Pharmaceutical Trade Data And Forecasts local currency (Nigeria 2012-2018)
Other Healthcare Data
Key Risks To BMI's Forecast Scenario
Nigeria- Security Issues To Weigh On Northern Consumption
Table: Economic Activity (Nigeria 2009-2018)
Industry Risk Reward Ratings
Middle East & Africa Risk/Reward Index
Nigeria Risk/Reward Ratings
Industry Trends And Developments
Maternal And Child Health
Healthcare Sector Developments
Research & Development
Intellectual Property Regime
Pricing And Reimbursement Regime
National Drug Policy
Nigerian-German Chemicals (NGC)
Emzor Pharmaceutical Industries
May & Baker
Merck & Co
Table: Nigeria's Population By Age Group, 1990-2020 ('000)
Table: Nigeria's Population By Age Group, 1990-2020 (% of total)
Table: Nigeria's Key Population Ratios, 1990-2020
Table: Nigeria's Rural And Urban Population, 1990-2020
Pharmaceutical Expenditure Forecast Model
Healthcare Expenditure Forecast Model
Notes On Methodology
Risk/Reward Index Methodology
Table: Pharmaceutical Risk/Reward Index Indicators
This report does not have a list of Companies Mentioned available
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