Newly released market study: Nigeria Pharmaceuticals & Healthcare Report Q4 2015

The introduction of private community microinsurance in Nigeria's Lagos state could provide a more affordable alternative to the government-introduced coverage scheme of which uptake has been slow. Improved health insurance coverage will help drive demand for pharmaceuticals and healthcare services over the long term. However, Nigeria's deteriorating economic outlook, subsequent naira depreciation and rise in inflation will continue to be felt by the pharmaceutical sector in 2015. Pharmaceutical market growth will slow given the decline in affordability levels, with both government and private consumption forecast to decline.

Headline Expenditure Projections

Pharmaceuticals: NGN170.28bn (USD1.03bn) in 2014 to NGN175.97bn (USD820mn) in 2015; +3.3% in local currency terms and -20.6% in US dollar terms. Forecast revised downward s from last quarter.

Full Report Details at
- http://www.fastmr.com/prod/1032908_nigeria_pharmaceuticals.aspx?afid=301

Healthcare: NGN3,551.82bn (USD21.50bn) in 2014 to NGN3,978.58bn (USD18.51bn) in 2015; +12.0% in local currency terms and -13.9% in US dollar terms. Forecast unchanged from last quarter.

Risk/Reward Index

For Q415, Nigeria scores 26.8 out of 100 in our Pharmaceutical Risk/Reward Index (RRI), significantly lower than the previous quarter's score of 30.0. As a result of currency devaluation, the country has fallen again from the previous quarter's ranking of 27th to 30th position in the Middle East and Africa matrix. Subsequently, Nigeria is currently regarded as low-reward, high-risk proposition for multinationals due to drug counterfeiting, corruption and poor pharmaceutical regulations governing the market.

Key Trends And Developments

July 2015

The Nigeria Pharmaceuticals & Healthcare Report features BMI Research'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.

Key Benefits

* 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.

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