Nigeria Cancer Immunotherapy Market Analysis

Nigeria Cancer Immunotherapy Market Executive Analysis

Nigeria's cancer immunotherapy market is expected to witness growth from $101 Mn in 2022 to $189 Mn in 2030 with a CAGR of 8.1% for the forecasted year 2022-30. The budget for healthcare went from $0.6 Bn in 2015 to $2.6 Bn in 2023, a 339.19% rise. increase in the national budget for health from 4.7 % in 2022 to 5.75 % in 2023; a 13.61 % reduction in the Basic Health Care Provision Fund (BHCPF) from $0.12 Bn in 2018 to $0.10 Bn in the proposed 2023 budget estimates; and an expansion of family planning (FP) services from 0 budget in 2022 to $43 Mn in 2023 to obtain commodities.

Over 72,000 people in Nigeria per year (30924 men and 40647 women) die from cancer. Given that there are 102,000 new instances of cancer each year, this number is expected to rise. Breast cancer is projected to occur at a rate of 27%, along with cancers of the cervix (14%), liver (12%), prostate (12%), and colorectum (4.1%). Compared to the liver (16%), prostate (13%), cervix uteri (12%), and colorectum (4.4%), breast cancer mortality is expected to be 20%. Currently, prostate cancer is the third most common cancer-related death in Nigeria, followed by liver cancer and breast cancer.

Immunotherapy is a form of medicine that targets specific immune system components to treat conditions like cancer. Immunotherapy has grown in importance as a component of various cancer treatments during the past few decades. New immunotherapy therapies are being evaluated and approved, and the understanding of how the immune system functions is expanding quickly. Some cancer types respond to immunotherapy more effectively than others. Some of these tumors are treated with it alone, but for others, it seems to function best when combined with other forms of therapy. Immunotherapy is used to treat cancer in a variety of ways, many of which are still being researched. Checkpoint inhibitors essentially remove the immune system's "brakes," enabling it to recognize and combat cancer cells. Chimeric antigen receptor (CAR) T-cell treatment removes a small number of T cells from the patient's blood, combines them with a unique virus that teaches the T cells how to adhere to tumor cells, and then returns the cells to the patient so they can locate, attach to, and eradicate cancer. To encourage the immune system to combat cancer, cytokines—small proteins that transmit messages between cells—are used.

Market Dynamics

Market Growth Drivers

In Nigeria, cancer is a serious public health issue since it causes a large number of fatalities. Given that immunotherapy is one of the most promising cancer treatment options now accessible, the rising incidence of cancer in the nation is anticipated to increase demand for it. The Nigeria cancer immunotherapy market is anticipated to rise as a result of the development of novel immunotherapy medications and technology. In the upcoming years, it is anticipated that the country will adopt immune checkpoint inhibitors, CAR T-cell therapy, and other cutting-edge methods of cancer treatment more frequently.

Market Restraints

Nigeria's healthcare system is still in its early stages, and there aren't many resources accessible for cancer treatment. This may restrict the country's access to the availability of immunotherapy therapies for cancer patients. Numerous cancer patients in Nigeria might not be able to afford immunotherapy therapies because they are frequently expensive to buy. This may restrict the use of these therapies and restrict patients' access to treatments that could save their lives. When it comes to informed consent, patient autonomy, and equal access to care, immunotherapy treatments may raise ethical questions in Nigeria. These worries could restrict the use of these therapies and prevent patients from receiving the best care available therefore limiting the expansion of the Nigeria cancer immunotherapy market.

Competitive Landscape

Key Players

• Emzor Pharmaceuticals (NGA)
• Chemiron International (NGA)
• Mopson Pharmaceuticals (NGA)
• Drugfield Pharmaceuticals (NGA)
• Drugfield Pharmaceuticals (NGA)
• Novartis
• Celgene
• Amgen
• Merck
• Janssen
• Seattle Genetics
• Printers
• Gritstone Oncology

Healthcare Policies and Regulatory Landscape

There is currently no universal healthcare coverage in Nigeria, as the country's healthcare system combines public and private healthcare providers. This can make it difficult for cancer patients to get the necessary treatments, such as immunotherapy. The Nigerian government has put in place a few initiatives to increase access to cancer care in the nation about cancer treatment coverage. For instance, the National Health Insurance Scheme (NHIS) offers health insurance protection to all who qualify, including those who are fighting cancer. However, the NHIS's coverage is constrained and might not cover immunotherapy or all other facets of cancer treatment. The Nigerian government has put in place a fee-for-service compensation system for healthcare providers in terms of reimbursement policies. Providers are paid under this system for the medical services they give patients. The rates of reimbursement for cancer therapies, including immunotherapy, could, nevertheless, be less than the true cost of giving the medication.