Country Yet To Benefit From Growing Traditional Medicine Market

News: Nigeria has yet to tap into the rapidly growing global alternative medicine market, as it lags behind countries such as China and Brazil, as well as other African nations, reports BusinessDay. Of the 1,372 National Agency for Food, Drug Administration and Control (NAFDAC)-listed traditional medicine products in Nigeria, only a few have been transformed into pharmaceutical dosage forms, according to Paul Orhii, the director general of NAFDAC. On the other hand, countries such as South Africa, Ghana, Egypt and Morocco have already issued mandates to accelerate the development and promotion of traditional medicines, while China and Brazil have reported annual revenues of US$14bn and US$160mn respectively from the traditional medicine business. Orhii added that effective regulation is required to incorporate traditional medicines into Nigeria's healthcare system.

This article is tagged to:
Sector: Pharmaceuticals & Healthcare
Geography: Nigeria

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