The increased demand for high-quality healthcare among Nigerian population as a result of increase in population and change in behaviours, has translated into rising healthcare costs. Due to the need for the government to contain these costs, local manufacturers are expected to continue taking a larger share of total pharmaceutical spend in Nigeria, and increased acceptance of generic drugs by patients and healthcare professionals will continue to grow the pharmaceuticals market.
Analgesics, also known as painkillers or pain relievers in Nigeria, is the biggest category in consumer health in terms of value sales. It is very common for Nigerian consumers to walk into a chemist or pharmacy store to buy analgesics instead of seeking professional advice from healthcare professionals, and not only do they purchase such drugs in chemists/pharmacies, but supermarkets, provision stores and kiosks are also seen dispensing analgesics products.
GSK, which is one of the leading healthcare multinational companies localising production of its brands via local contract manufacturing, will be seen transitioning the manufacturing of five of its products to Fidson Healthcare Plc from Q3 2021. This initiative will allow GSK to build a more sustainable commercial business, enabling the company to continue its efforts in supporting access to consumer health products, medicines and vaccines across Nigeria.
The present drug distribution system in Nigeria is chaotic, porous and a serious threat to the National Drug Policy (NDP). Open drug markets abound with charlatans operating freely across the value chain.
Nigeria’s population is very young and increasing, the consumer health market is experiencing a significant increase, which could create an opportunity for a large consumer base to develop in the future. More than half of the population live in urban areas and this is expected to continue as a middle class with rising spending power is emerging.
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This industry report originates from Passport, our Consumer Health market research database.