Pharmaceutical Market in Nigeria 2021-2025

pharmaceutical market in nigeria

Nigeria is the most populated country in the Western African region with almost 219 million people. The Pharmaceutical Market in Nigeria witnessed de-growth between 2013 to 2016. The main reasons for de-growth remained, drop in crude oil prices, devaluation of local currency and lack of capital inflows. However, from 2017 onwards the market started to grow at a single digit CAGR but the pandemic Covid 19 has impacted it deeply resulting in widening the scarcity of the various pharmaceutical products in the country. The pandemic effects worsen as Pharmaceutical Market in Nigeria is highly dependent on imports. The main reasons for import dependency of the country is, poor infrastructure and less foreign investment, lack of political interest for local drug research and manufacturing and short supply of highly trained production personnel.

This report provides an analysis of how the Pharmaceutical Market in Nigeria is performing in current pandemic. Initial Chapters contains IKON's Research Methodology and Executive summary. The key Chapter 4 highlights country's key statistics, healthcare indicators and diseases burden in the country. Chapter 5 deals with overall market size and further the market split by Generic Vs. Branded Generic Vs. Patented, By Rx/OTC/OTX, By Key Therapeutic Areas, By top 10 cities of Nigeria. Also it contains the present supply chain in pharmaceutical market in Nigeria. Chapter 6 highlights international trade scenario, Chapter 7 indicates future market forecast, chapter 8 and 9 shows market drivers and challenges respectively. Chapter 10 showcase competitive landscape highlighting key player's market share. Chapter 11 deals with regulatory enviornment and Chapter 12 shows how Covid 19 impacted the Nigeria Pharma market causing increased scarcity of medicines. Chapter 13 highlights the key success factors for pharma market in Nigeria. Chapter 14 lists down the profiles of the major pharma players in Nigeria.

The insight is useful for,

  • Understanding and scanning the Nigerian Pharmaceutical Market and identifying market entry and expansion opportunities
  • Getting insights of right market segments & taping new market opportunities
  • Analyzing competition scenario
  • Developing marketing strategy and plan

Beneficial to,

  • Pharma manufactuers, Pharma Exporters, Pharma Traders, Investors and Venture Capitalists, Industry Analysts & Consultants, Corporate and Entrepreneurs, Industry association, Education and Government Institutes

Key Questions Answered,

  • How has the pharmaceutical market in Nigeria performed so far and how will it perform in the coming years?
  • What is the breakup of the market based on Generic vs. Branded, Rx vs. OTC, Key Therapeutic Areas?
  • What is the breakup of the market based on the top 10 cities?
  • What are the key driving factors and challenges in the market?
  • How the market is regulated by different regulatory requirements?

1. Introduction

2. Research Methodology

3. Executive Summary

4. Nigeria - Key Data Snapshot

  • 4.1 Nigeria - Country Overview
  • 4.2 Country Key Statistics
  • 4.3 Health Indicators
  • 4.4 Diseases Burden – Nigeria

5. Pharmaceutical Market in Nigeria

  • 5.1 Healthcare Statistics
  • 5.2 Pharma Market Size
    • 5.2.1 Pharma Market by Generic Vs. Branded Generic Vs. Patented
    • 5.2.2 Pharma Market by Rx/OTC/OTX
    • 5.2.3 Pharma Market by Therapeutic Areas in Value
    • 5.2.4 Pharma Market by Therapeutic Areas in %
    • 5.2.5 Pharma Market by Top 10 Cities in Value
    • 5.2.6 By Top 15 Cities in Value (2019-20)
    • 5.2.7 Pharma Market by Top 10 Cities in %
  • 5.3 Pharmaceutical Supply Chain in Nigeria

6. Export Import Scenario

  • 6.1 Pharmaceutical Import in Nigeria
  • 6.2 Pharmaceutical Export in Nigeria

7. Future Market Outlook (2021-2025)

8. Market Growth Drivers

9. Market Challenges

10. Competitive Landscape

  • 10.1 Competition Overview
  • 10.2 Major Players Market Share

11. Regulatory Environment

  • 11.1 Registration and Licensing Requirements
  • 11.2 Registration Process
  • 11.3 Documents Required for Drug Registration

12. Impact of Covid 19

13. Key Success Factors

14. Profiles of Major Players

  • 1. GlaxoSmithKline Nigeria
  • 2. Fidson Healthcare
  • 3. Shalina Healthcare Nigeria
  • 4. Biopharma Nigeria Limited
  • 5. Phamatex Nigeria Limited
  • 6. Ranbaxy Nigeria (A Sun Pharma Company)
  • 7. Emzor Pharmaceutical
  • 8. Swiss Pharma Nigeria

List of Tables:

  • Table 1: Country Key Statistics
  • Table 2: Country’s Economic Indicators
  • Table 3: Country’s Health Indicators
  • Table 4: Death by Diseases
  • Table 5: Decadal % change in death by diseases
  • Table 6: No. of Doctors by Specialty in Nigeria
  • Table 7: Top Cities Population (in Mn)

List of Exhibits:

  • Exhibit 1: Govt Vs. Pvt Healthcare Spending
  • Exhibit 2: Pharmaceutical Market in Nigeria (2017 – 2021)
  • Exhibit 3: Market by Generic/Branded Generic/Patented in USD Mn (2020)
  • Exhibit 4: Market share Generic/Branded Generic/Patented (2020)
  • Exhibit 5: Market by Rx/OTC/OTX in USD Mn (2020)
  • Exhibit 6: Market share Rx/OTC/OTX (2020)
  • Exhibit 7: Pharmaceutical Market by Therapeutic Areas in Nigeria in USD Mn (2020)
  • Exhibit 8: Market Share Key Therapeutic Areas in Nigeria (2020)
  • Exhibit 9: Market by top 10 cities in USD Mn (2019)
  • Exhibit 10: Market share top 10 cities (2019)
  • Exhibit 11: Pharma Import Nigeria (2016-2020)
  • Exhibit 12: Import Partner share (2020)
  • Exhibit 13: Pharma Export Nigeria (2016-2020)
  • Exhibit 14: Export Partner share (2020)
  • Exhibit 15: Nigeria Pharma Market Future (2025)
  • Exhibit 16: Nigeria Pharma Market Shift Rx Vs OTC (2025)
  • Exhibit 17: Key Market Players Market Share (2019)

Market By

  • Generic vs. Branded
  • Rx vs. OTC vs. OTX
  • Key Therapeutic Areas
  • Top Cities

The Process

1. Project Kick-off

  • Framing research objectives and scope
  • Getting research team on board
  • Selecting the best fit methodology
  • Deciding the project timeline

2. Secondary Research

  • Exploring various credible secondary sources to collect relevant qualitative and quantitative data
  • Identifying target contacts
  • Preparing questionnaires and market models

3. Primary Research

  • Conducting structured primary interviews with target respondents
  • Having informal discussions with the industry experts and key opinion leaders
  • Deriving quantitative and qualitative data and meaningful insights

4. Analysis and Report Writing

  • Analyzing the quantitative and qualitative data gathered via primary and secondary sources
  • Drawing insightful conclusions and recommendations
  • Preparing the final presentable report

Market Size Estimation and Forecast

For arriving at the market size estimations, IKON follows two way research methodology, that includes data triangulation based on top-down and bottom-up approaches and validation of market numbers via primary research.

The CAGR for the forecast period is derived by studying various factors such as market drivers and challenges, technological developments, FDI inflows, market trends and their level of impact on the market.

Top-Down Approach

Top-Down approach is based on the principle of creating the broad picture and then narrowing it down. Primary and Secondary research done to identify the market size, market share and growth numbers of the players. Then the market is bifurcated into segments and estimate percent share of each market segment. Each market segment’s market size further broken down in the regional market size of each segment and then sub segments. This approach helps in arriving at the market size of each segment.

Bottom-Up Approach

Bottom-Up approach refers to arriving at the total market size by estimating market size of all the market segments by detailed product mapping of all major and small players operating in the market. While estimating market size, current market trends, demand-supply gap, international trade scenario, buyer behaviour, number of end users and average consumption by end users taken into consideration

Primary Check

The market size obtained by using a Top-Down approach is then again cross-checked with the market size obtained by using the Bottom-Up approach.

Data Types and Sources

Secondary Data

Data Type

  • Product type and application, Product pricing, Distribution channel, Promotion strategies, Sales figures, Market share, Growth rates
  • Market structure, Market segments, Market trends, Market opportunities and Market challenges
  • Technological and investment trends and new product development

Secondary Sources

  • Company websites and annual reports, Investor presentations, Press Releases, Research papers
  • Industry association's website, free and paid databases and industry journals
  • Publications by Global organization like World Bank, WHO, OECD, EU, Eurostat etc.

Primary Data

Data Type

  • From supply side – Sales numbers, growth rate, market size, market share, distribution, market drivers and challenges and opportunities
  • From demand side - Customer demographics, consumption, buying behavior, buying preference

Data Sources

  • Target respondents such as manufacturers, C-level executives, marketing managers, sales managers, purchase managers, raw material suppliers, distributors, retailers, industry experts, heads of various associations,importers, exporters and customers

Primary Interview Techniques

Primary interview techniques used are structured and semi structured interviews, informal discussion, Delphi technique and Focus group

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