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.
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.
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.
Key Players
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):
By Drugs (Revenue, USD Billion):
By Therapy (Revenue, USD Billion):
By Route of Administration (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
Methodology for Database Creation
Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.
Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.
How Do We Get It?
Our database is created and maintained through a combination of secondary and primary research methodologies.
1. Secondary Research
With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:
With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:
2. Primary Research
To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:
Combining Secondary and Primary Research
By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:
Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.
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.