Nigeria Pharmaceuticals Market Size:
Pharmaceuticals are the drugs used to diagnose, treat, prevent, or cure the various diseases. The increase in the prevalence of infectious diseases such as Malaria (approximately 300,000 deaths occur due to malaria) and diarrhea (according to WHO, approximately 10% deaths occur due to diarrheal disease), expansion of businesses by global market players by acquiring local companies are anticipated to fuel the Nigeria pharmaceuticals market. Moreover, rise in incidence of chronic diseases such as AIDS and cancer, rapid urbanization, and rise in healthcare expenditure are expected to boost the Nigeria pharmaceuticals market over the forecast years. However, lack of R&D activities may hinder the growth of Nigeria pharmaceuticals market over forecast period.
Nigeria pharmaceuticals market is segmented on the basis of product type, formulation, therapeutic area, distribution channel
Based on the product type,
- Prescription Drugs
- Over-the-Counter Drugs
Based on the formulation,
Based on the therapeutic area,
- Infectious Diseases
- Other Infectious Diseases
- Cardiovascular Diseases
- Diabetes and Metabolic Disorders
Based on the distribution channel,
- Hospital Pharmacies
- Retail Pharmacies
Key players’ profiles in the Nigeria pharmaceuticals market include:
- Biogaran S.A.S (Servier laboratories)
- Fidson Healthcare PLC
- GlaxoSmithKline PLC
- Emzor Pharmaceutical Industries Ltd. (Emzor Chemists Limited)
- May & Baker Nigeria Plc.
- Chemiron International Limited
- Zolon healthcare limited.
- NEROS Pharmaceuticals Ltd.
Notable Market Developments:
- In March 2017, French pharmaceutical firm, Biogaran SAS acquired Swiss Pharma Nig Ltd for expanding its business in Nigeria
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies and regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market