Untapped Opportunity In The Pharmaceuticals And Healthcare Sector
BMI View: We see Nigeria as a standout market in West Africa due to prevailing socio-economic factors within the country. We believe there is a considerable commercial opportunity unravelling given the scale of private spending on healthcare and the large, unaddressed disease burden present. However, affordability and pertinent risks will continue to prevent these opportunities from being fully realised.
Within West Africa, we see a large commercial opportunity unravelling for pharmaceutical and healthcare companies in Nigeria, as the country's economy continues to grow at a rapid pace and investor sentiment improves towards the region. We highlight four key factors driving pharmaceutical and healthcare demand over the long term in the country.
Considerable infectious disease burden owing to the country's geographic location; the tropical climate of Nigeria makes it a hotbed for infectious diseases such as malaria and tuberculosis. Outbreaks of polio, meningitis, cholera, yellow fever, hepatitis and tetanus are also frequent in the country.
Biggest Market For Pharmaceuticals and Healthcare In West Africa Pharmaceutical and Healthcare Spending, 2010-2023