Nigeria Oncology Therapeutics Market Analysis

Nigeria Oncology Therapeutics Market Analysis


$ 3999

By 2030, it is anticipated that the Nigeria Oncology Therapeutics Market will reach a value of $335 Mn from $163 Mn in 2022, growing at a CAGR of 9.4% during 2022-30. The Oncology Therapeutics Market in Nigeria is dominated by a few domestic pharmaceutical companies such as Neimeth, Fidson Healthcare, and Jawa. The Oncology Therapeutics Market in Nigeria is segmented into different types of cancer and different therapy type. The major risk factors associated with cancer are diet, alcohol, tobacco, air pollution, and physical inactivity. The demand for Nigeria Oncology Therapeutics is increasing on account of the rise in initiatives taken by the Government of the country.

ID: IN10NGPH042 CATEGORY: Pharmaceuticals GEOGRAPHY: Nigeria AUTHOR: Dr. Vishwa Modhia

Buy Now

Nigeria Oncology Therapeutics Market Analysis Summary

By 2030, it is anticipated that the Nigeria Oncology Therapeutics Market will reach a value of $335 Mn from $163 Mn in 2022, growing at a CAGR of 9.4% during 2022-30.

Nigeria is a lower middle-income, developing country located in West Africa with a coast on the Gulf of Guinea and the Atlantic Ocean. Cancer has stayed at the top of the list of diseases that are indiscriminately diminishing people's welfare and health all over the world, especially in developing countries like Nigeria. Cancer kills approximately 80,000 individuals in Nigeria each year, and by 2030, low-middle-income nations like Nigeria will account for 70% of the 13 Mn cancer fatalities anticipated globally.

Nigeria now has an estimated 233,911 cancer cases, with 124,815 new cases and 78,899 cancer deaths each year. Nigeria currently has less than 90 oncologists. Nigeria's government spent 3.4% of its GDP on healthcare in 2020.

Nigeria Oncology Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

Organizations such as the Nigerian Cancer Society and the Lagos State University Teaching Hospital have launched campaigns to educate the public about cancer risk factors, symptoms, and prevention. In 2018, the federal government released the Cancer Control Plan, a four-year programme with the goal of reducing cancer incidence and prevalence over the next five years and beyond. These aspects could boost Nigeria's Oncology Therapeutics Market.

Market restraints

According to the World Health Organization, Nigeria's population of 170 Mn requires at least 170 cancer centres. Nigeria currently has approximately 9 centres, far fewer than the required number. There is no well-coordinated cancer registry in Nigeria or any other West African country. Despite being operational, the capability of the Nigerian National System of Cancer Registries is limited due to logistical, legal, and intermittent funding challenges. In Nigeria, where around 10,000 cancer fatalities are registered each year and 250,000 new cases are recorded each year, there is a lack of or ineffective governmental policy on cancer concerns.

People in Nigeria are usually uninformed of cancer's early warning signals and risk factors. The national health budgetary allocation for 2022 is less than 6%, even though politicians continue to take capital flight for medical treatment abroad, depleting the country's foreign reserves and exacerbating the medical tourism problem, which costs more than $1 billion annually. These factors may deter new entrants into the Nigeria Oncology Therapeutics Market.

Competitive Landscape

Key Players

  • Neimeth International Pharmaceuticals: This is a Nigerian pharmaceutical company that produces a range of oncology drugs, including chemotherapeutic agents and supportive care medications
  • May & Baker Nigeria: This is another Nigerian pharmaceutical company that produces oncology drugs such as chemotherapy agents, hormonal agents, and targeted therapies
  • Fidson Healthcare: This is a Nigerian pharmaceutical company that produces a range of oncology drugs, including chemotherapy agents, supportive care medications, and targeted therapies
  • Afrab Chem Limited: This is a Nigerian pharmaceutical company that specializes in the production of oncology drugs, including chemotherapy agents, hormonal agents, and targeted therapies
  • Union Diagnostic and Clinical Services: This is a Nigerian healthcare company that provides diagnostic services and produces a range of oncology drugs
  • Jawa International Limited: This is a Nigerian pharmaceutical company that produces a range of oncology drugs, including chemotherapy agents and supportive care medications

Healthcare Policies and Reimbursement Scenarios

In Nigeria, the administrative body liable for supporting and observing oncology therapeutics is the National Agency for Food and Drug Administration and Control (NAFDAC). As far as repayment, Nigeria has a public health care coverage plan known as the National Health Insurance Scheme (NHIS). The NHIS is liable for repaying patients for a portion of the expense of their oncology medicines.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 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
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Oncology Therapeutics Segmentation

By Application (Revenue, USD Billion):

  • Blood Cancer
  • ?Colorectal Cancer
  • Gastrointestinal Cancer
  • Gynaecologic Cancer
  • Breast Cancer
  • Lung Cancer
  • Prostate Cancer
  • ?Others

By Drugs (Revenue, USD Billion):

  • Revlimid
  • Avastin
  • Herceptin
  • Rituxan
  • Opdivo
  • Gleevec
  • Velcade
  • Imbruvica
  • Ibrance
  • Zytiga
  • Alimta
  • Xtandi
  • Tarceva
  • Perjeta
  • Temodar
  • Others

By Therapy (Revenue, USD Billion):

  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy
  • Hormonal Therapy
  • Others

By Route of Administration (Revenue, USD Billion):

  • Oral
  • Parenteral
  • Others

By Distribution Channel (Revenue, USD Billion):

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • ?Others

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.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.

By 2030, it is anticipated that the Nigeria Oncology Therapeutics market will reach a value of $335 Mn from $163 Mn in 2022, growing at a CAGR of 9.4% during 2022-2030.

In Nigeria, the regulatory body responsible for approving and monitoring oncology therapeutics is the National Agency for Food and Drug Administration and Control (NAFDAC).

The Oncology Therapeutics Market in Nigeria is dominated by a few domestic pharmaceutical companies such as Neimeth, Fidson Healthcare, and Jawa.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 19 July 2023
Updated by: Jay Dalwadi

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up