Nigeria Oncology Clinical Trials Market Analysis

Nigeria Oncology Clinical Trials Market Analysis


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Nigeria's oncology clinical trials market is projected to grow from $11.4 Mn in 2022 to $18.8 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. The market will be driven by the high cancer burden, rising need for advanced cancer therapies, and rise in clinical trial financing. The market is segmented by phase, by study design & by indication. Some of the major players include Pfizer Inc., Roche Holding AG & Neimeth International Pharmaceuticals.

ID: IN10NGCT006 CATEGORY: Clinical Trials GEOGRAPHY: Nigeria AUTHOR: Vidhi Upadhyay

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Nigeria Oncology Clinical Trials Market Executive Summary

Nigeria's oncology clinical trials market is projected to grow from $11.4 Mn in 2022 to $18.8 Mn by 2030, registering a CAGR of 6.5% during the forecast period of 2022-30. Nigeria's pharmaceutical sector imports a large portion of its processed raw materials. Moreover, large equipment and equipment utilized in the pharmaceutical business are made in other countries and imported into Nigeria. Because of the large population and low labor costs, the Nigerian pharmaceutical business is immense. Cancer kills around 72,000 people in Nigeria each year (30924 for males and 40647 for females). This figure is expected to rise since there are 102,000 additional cancer cases each year. Breast cancer (27%) is the most common, followed by cervix uteri (14%), liver (12%), prostate (12%), and colorectum (4.1%). Although breast cancer has a 20% death rate, the liver (16%), prostate (13%), cervix uteri (12%), and colorectum (4.4%). Breast cancer is currently the major cause of cancer mortality in Nigeria, followed by liver cancer and prostate cancer.

Breast, cervical, prostate, and colorectal cancer are the most frequent kinds of cancer in Nigeria. Unfortunately, the country's infrastructure and resources for oncology clinical trials are restricted, and the number of active studies is low in comparison to other parts of the globe. Notwithstanding these obstacles, certain oncology clinical trials are now underway in Nigeria, with the primary goal of increasing cancer screening and early diagnosis as well as researching novel treatment options There are few current phase II oncology studies in Africa, such as an investigator-initiated Phase II breast oncology clinical study in Nigeria that is assessing the response rate to subcutaneous trastuzumab. Although the oncology clinical trials landscape in Nigeria confronts various hurdles, rising cancer awareness and the desire for better treatment choices indicate that there is room for expansion in the sector. Nigeria might become a more active member in the global oncology clinical trials landscape with increasing investment in healthcare facilities and resources, as well as an emphasis on community participation and education.

nigeria oncology clinical trials market analysis

Market Dynamics

Market Growth Drivers

Many reasons are driving the expansion of oncology clinical trials in Nigeria. To begin, Nigeria has a high cancer burden, with a large number of people in need of effective and affordable cancer therapies. This increases the desire for novel new treatments and therapies, which clinical trials may assist in developing. Clinical trials are becoming more popular with the Nigerian public, as well as among healthcare practitioners. As a result, patient enrollment for clinical trials has grown, as has cooperation between healthcare practitioners and research organizations. The Nigerian government has committed to upgrading healthcare infrastructure, including research and clinical trial capacity. This has resulted in a rise in clinical trial financing and resources, as well as the formation of collaborations between Nigerian research institutes and foreign organizations.

Market Restraints

There are various other constraints that may have an influence on the expansion of oncology clinical trials in Nigeria. The lack of infrastructure and resources, particularly access to contemporary diagnostic equipment and treatment facilities, is a serious barrier. This may make it challenging to perform clinical studies that fulfill international safety and effectiveness criteria. Another difficulty could be the scarcity of financing for clinical trials, which might restrict Nigerian researchers' capacity to perform high-quality studies. Moreover, there may be cultural or logistical challenges to participating in clinical trials, especially in rural communities with limited access to healthcare.

Competitive Landscape

Key Players

  • Pfizer Inc.
  • Roche Holding AG
  • Novartis International AG
  • AstraZeneca plc
  • Merck & Co., Inc.
  • Eli Lilly and Company
  • Sanofi S.A.
  • Bristol Myers Squibb Company
  • GlaxoSmithKline (GSK)
  • Neimeth International Pharmaceuticals (NGA)

Notable Insights

November 2022, in phase 1 clinical trials, an experimental breast cancer vaccine was shown to be safe. A novel plasmid Deoxyribonucleic Acid (DNA)/genetic material-based vaccination that may target a receptor in breast cancer is safe, according to recent phase 1 clinical trial findings.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Oncology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

By Study Design Outlook (Revenue, USD Billion):

  • Epilepsy
  • Parkinson's Disease (PD)
  • Huntington's Disease
  • Stroke
  • Traumatic Brain Injury (TBI)
  • Amyotrophic Lateral Sclerosis (ALS)
  • Muscle regeneration
  • Others

By Indication Outlook  (Revenue, USD Billion):

  • Interventional
  • Observational
  • Expanded Access

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 22 December 2023
Updated by: Dhruv Joshi

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