Business News Agency August 23 News In the next five years, Nigeria's pharmaceutical market will grow at a CAGR of 14.3%, and anti-infective, malaria and tuberculosis drugs have a large market space. In 2009, the number of pharmaceutical exports to Nissi increased by 22.54% over the previous year, and exports accounted for more than 24% of the total non-exports of western medicine preparations.
Despite the global economic recession in 2009, the Nigerian government has not cut medical expenses. In June 2009, the Nepal Health Reform Foundation, the National Parliament, and the Ministry of Health began joint efforts to reform the health system and improve primary health care. At the same time, the Nigerian government is working hard to implement the National Health Insurance Act and has set the Millennium Development Goal to improve the health care supply. The goal is to provide the public with fair and reasonable medical services.
According to statistics from BMI, a European business consulting firm, Nigeria's pharmaceutical market in 2009 was US$600 million, and will grow at a CAGR of 14.3% over the next five years. It is expected to reach 11.8 by 2014. One hundred million U.S. dollars.
However, the huge counterfeit drug market, the shortage of health care funds, corruption, and a host of other factors have made Nigeria's pharmaceutical business investment environment less optimistic, ranking it only 70th in the world and only 16th in the Middle East and East Africa. Bit. In addition, the per capita drug expenditure in Nigeria is far lower than the world average, only 4 US dollars. In 2008, the national drug expenditure also accounted for only 0.3% of GDP.
Encourage investment to increase investment
According to statistics of the Nigeria Investment Promotion Commission, from 2000 to 2006, Nigeria absorbed a total of over US$20 billion in foreign investment, and most of the investment was in the pharmaceutical sector. The main investors were the United States and Europe. The French government is currently considering large-scale investment in Nigerian pharmaceutical production facilities to reward its efforts to combat the counterfeit drug movement. In addition, the utilization rate of production capacity of local producers in Nepal is also increasing. In the next few years, the utilization rate will reach 80% to 90%. Therefore, the Nigerian medicine market is likely to grow at an annual growth rate of 380 million US dollars.
The Nigerian government gives tax incentives to companies investing in Nigeria and plans to establish a pharmaceutical free trade zone near the capital. Since the introduction of the Export Processing Zones Act in 1992, Nigeria has announced that it will establish more than 20 free trade zones. The pharmaceutical industry, as the Nigerian pioneer industry, stipulates that foreign companies or joint ventures invest more than US$40,000 in Nigeria to obtain a tax holiday. The private healthcare market in sub-Saharan Africa is approximately US$18.6 billion. If the government in the region can eliminate corruption and continue to grow, this figure will increase three-fold. Foreign investors can choose to provide low-cost generic drugs or open hospitals in foreign countries. Or provide medical insurance.
In June 2005, the Nigerian government promulgated the National Medical Insurance Plan (NHIS Plan) and issued a presidential directive that aims to achieve universal health coverage in 2015. The purpose of the NHIS is to allow all public and private sector employees to hand over 15% of their income (5% to employees, 10% to employers) to the Health Maintenance Organization (HMO), who is responsible for the distribution of health care. As of 2009, the Nepalese government has allocated US$307 million for the NHIS plan. At present, 7,000 health care centers, 1,524 pharmacies, 32 HMOs, 15 banks, 5 insurance companies, and 3 insurance brokers have joined the NHIS program.
Strict supervision has new changes
The main regulatory agency in Nigeria is the National Food and Drug Administration (NAFDAC). NAFDAC requires NiPA to provide checklists with a list of shipments and goods. Only GMP-certified pharmaceutical companies can import drugs to Nigeria. When registering or re-registering a product, the NAFDAC must inspect the factory that produces the product, regardless of where the drug is located. In addition, NAFDAC has mandatory requirements for importers to provide pre-shipment information for all products before they arrive.
In order to protect local drug manufacturers in Nigeria and reduce dependence on imported drugs, Nigeria imposes high registration fees on imported drugs. For example, the registration fee for each imported prescription drug is $2,200, and the registration fee for each OTC product is $10,000. . The prescription drug registration fee can be broken down into an import license fee of 10,000 Naira (approximately US$77), a process processing fee of 140,000 Naira (approximately US$1081), and a registration fee of 100,000 Naira (US$772). In addition, different dosage forms (such as capsules and tablets) and doses of the same drug need to be registered separately. Because the fees are too high, although given certain tax benefits to multinational corporations, they are not enough to make up for the high costs and high-quality medicines are still difficult to flow into the market.
As part of Nigeria's national drug policy, NAFDAC has learned from the experiences of India, Cameroon and Switzerland and has begun to establish regional drug distribution center systems (ZDDCs). The plan is to establish ZDDCs in six political regions in Nigeria. Each center has 800 drug wholesalers, and each store must be equipped with a pharmacist to ensure the safety and quality of medicines, strengthen the control of the entire pharmaceutical supply chain, and reduce false Pharmaceutical trade.
Nigeria stipulates that all drug wholesalers and distributors must register with the Pharmacist Board (PCN) and follow their prescribed distribution guidelines. In order to cooperate with the government to strengthen supervision of the pharmaceutical industry, PCN has formulated and issued new guidelines for drug distribution. Companies that do not meet the requirements will be revoked. Under the new system, an agency that holds a “blue†license can provide medication advice to patients and can only engage in retail sales of medicines; companies that hold “white†licenses can only engage in the wholesale of pharmaceuticals, not retail drugs and provide medications. Consulting; companies that only engage in import operations issue “grey†licenses for them.
Long-term development prospects are optimistic
Calculated in Nigerian local currency, Nigerian drug spending will increase at a CAGR of 3.24% over the next five years. If calculated in U.S. dollars, the actual average annual growth rate of drug expenditure in the next few years should be 1.59%. By 2013, it will reach 695 million U.S. dollars, and the proportion of GDP in GDP will drop from 2.8% in 2008 to 2%.
For Nigeria's pharmaceutical industry, the development situation in the next four years is still optimistic. According to the forecast of International Business Watch BMI, by 2013, the market size of Nigerian prescription drugs will increase to US$565 million, accounting for 81% of the total drug expenditure. The OTC drug market is developing relatively slowly. It is expected that by 2013, the OTC market will be 311 million U.S. dollars, with an average annual growth rate of less than 1%, which may be related to the presence of counterfeit drugs in the form of OTC.
Because African countries lack medicines and medicine, and the health care infrastructure is relatively backward, most patients tend to be self-medical, and they are the first choice for OTC drugs as analgesics. According to statistics, in 2008, analgesics accounted for a market share of US$ 26.78 million, accounting for 20.6% of the OTC market. It is expected that OTC analgesics will increase to US$ 40 million by 2013. At present, many multinational drug companies have begun to adopt market promotion methods to increase the OTC drug market share. For example, GSK has established its Panadol brand through advertising and has already included 85 companies including Nigeria. Countries and regions promote the listing.
In 2008, the generic pharmaceutical market share in Nigeria was 185 million U.S. dollars, and it is expected to grow at an average annual growth rate of 3% in the future. By 2013, the market share will increase to 215 million U.S. dollars, accounting for more than 70% of the entire pharmaceutical market. In addition, the government has eliminated the tariffs on raw materials used to produce lifesaving medicines in order to encourage local production of antiviral drugs. This is a promising prospect for generic manufacturers who are committed to the development of the African market.
In addition to positive economic development data, the strong growth of Nigeria’s GDP, the increase in government healthcare expenditures, the increasing population, the continuous expansion of the country’s medical insurance coverage, the increase in the number of hospitals, and the establishment of free trade zones are all driving Ni Medicine’s The core driving force of market development.
In December 2007, the World Bank’s International Finance Corporation (IFC) granted a loan of US$1 billion for the development of health care in Africa. In 2009, the World Bank approved another $180 million for the control of malaria in African countries. This is the largest anti-malaria campaign to date. With the implementation of Nepal NHIS plan, the country's medical insurance system will be further improved in the next few years. The state encourages the development of medicine and increases the investment in medical care to provide the largest promotion role for the pharmaceutical industry, making the per capita expenditure on medicines increase by more than 20% in the next four years.
Multinational pharmaceutical companies have great opportunities
The increasing epidemic situation in Nigeria, where healthcare spending is increasing, and the intellectual property system that is currently being implemented, provides tremendous opportunities for pharmaceutical companies.
Nigeria currently has 10,600 primary health care centers, 1,000 secondary treatment centers and more than 50 tertiary centers. With the increase of population and improvement of medical and health conditions, Nigeria is still expanding the hospital, which will greatly increase the demand for medicines and medical equipment. In addition, due to the low utilization of the local pharmaceutical industry, Nepal has a huge import dependence on high value-added drugs, and 60% of essential drugs need to be imported.
At present, Nigeria has officially registered more than 100 pharmaceutical companies, of which about 20 are multinational pharmaceutical companies. Most of these large companies do not set up factories in Nigeria, but cooperate with local manufacturers. Representative multinationals include GlaxoSmithKline, Pfizer and Solvay. In addition, some non-Western drug manufacturers are also entering the Nepal market. In May 2005, Pakistani pharmaceutical company Efroze Chemical Industry introduced its products to the Nigerian market. India Glenmark Pharmaceuticals has listed 14 products in Nigeria, mainly in the field of anti-infective drugs and skin medications. It is estimated that sales will reach 10 million US dollars by 2012.
In December 2008, Bangladesh Popular Pharmaceutical's 30 million-invested production facility was approved by NAFDAC, and the plant also received WHO's GMP certificate. As of February 2009, the plant has sold 18 drugs including insulin, azithromycin, metoprolol, proseline and carvedilol in Nigeria. Recently, Kalbe Farma in Indonesia is trying to invest US$25 million in a joint venture with native Nigerian producer Orange Drugs.
Nigeria, as a relatively developed English-speaking African country, has a relatively good industrial base. The government's medical insurance plan and anti-counterfeit drug campaign will greatly reduce counterfeit drug trade and standardize the pharmaceutical circulation market. However, due to the lack of a patent law and a medical reimbursement system, the Nigerian health care sector lacks long-term funding and serious brain drain.
As for other incentives, the reorganization of the Nigerian Ministry of Health and the National Health Council will increase foreign capital inflows. The establishment of a patent system and the establishment of a pharmaceutical free trade zone in accordance with the TRIPS Agreement will reduce barriers to drug inflows and promote the healthy and orderly development of the pharmaceutical market. According to BMI's forecast, in 2008, the value of Nigeria's drug imports was US$150 million, and it is expected to increase to US$320 million by 2013, and the medical trade deficit will further increase. The Nigerian pharmaceutical market has great potential, but due to the lack of domestic investment and unreliable energy supply, the local pharmaceutical industry has developed slowly. At present, the government is attracting foreign investment by improving infrastructure and establishing a centralized pharmaceutical production area.
Sino-Nepalese Trade and Sustainable Development
In 2009, China exported 364,500 tons of pharmaceutical products to Nigeria, an increase of 5.62% year-on-year in 2008, and the export value was US$168 million, a year-on-year decrease of 2.99%. Among them, Western medicine raw materials accounted for the largest proportion of exports, accounting for 34.84% of my exports to Nepal, followed by Western medicine, hospital diagnosis and treatment equipment and disposable consumables.
In 2009, under the circumstances that the financial crisis and counterfeit medicine incidents had a serious impact on China’s pharmaceutical exports, China’s exports of Nigeria’s biochemical drugs have grown substantially, with exports reaching US$113.124 billion, an increase of 63.06% year-on-year in 2008. In addition, Nigeria has now become the largest non-exporter of western medicines in China. In 2009, the export volume of Nissi pharmaceutical preparations was 46,700 tons, an increase of 22.54% over 2008, and the export volume reached 56.13 million US dollars, accounting for the western medicine preparations. More than 24% of the total non-exports, and mainly anti-infective drugs, analgesics, antimalarial artemisinin and disposable consumables and hospital diagnostic equipment.
Nevertheless, we should also see the impact of the incidents of counterfeit medicines that have occurred in recent years on non-exports to China, and India’s threat to the country as a Nigerian’s largest importer of antiviral drugs. While actively exploring the African market, we must firmly establish a good image of Chinese pharmaceutical companies and pharmaceutical products. After all, judging from the macro factors and the performance of the world's pharmaceutical market in recent years, pharmaceutical companies in China still need to continue to regard African countries represented by Nigeria as one of the most important export markets for western medicines in the world.
Despite the global economic recession in 2009, the Nigerian government has not cut medical expenses. In June 2009, the Nepal Health Reform Foundation, the National Parliament, and the Ministry of Health began joint efforts to reform the health system and improve primary health care. At the same time, the Nigerian government is working hard to implement the National Health Insurance Act and has set the Millennium Development Goal to improve the health care supply. The goal is to provide the public with fair and reasonable medical services.
According to statistics from BMI, a European business consulting firm, Nigeria's pharmaceutical market in 2009 was US$600 million, and will grow at a CAGR of 14.3% over the next five years. It is expected to reach 11.8 by 2014. One hundred million U.S. dollars.
However, the huge counterfeit drug market, the shortage of health care funds, corruption, and a host of other factors have made Nigeria's pharmaceutical business investment environment less optimistic, ranking it only 70th in the world and only 16th in the Middle East and East Africa. Bit. In addition, the per capita drug expenditure in Nigeria is far lower than the world average, only 4 US dollars. In 2008, the national drug expenditure also accounted for only 0.3% of GDP.
Encourage investment to increase investment
According to statistics of the Nigeria Investment Promotion Commission, from 2000 to 2006, Nigeria absorbed a total of over US$20 billion in foreign investment, and most of the investment was in the pharmaceutical sector. The main investors were the United States and Europe. The French government is currently considering large-scale investment in Nigerian pharmaceutical production facilities to reward its efforts to combat the counterfeit drug movement. In addition, the utilization rate of production capacity of local producers in Nepal is also increasing. In the next few years, the utilization rate will reach 80% to 90%. Therefore, the Nigerian medicine market is likely to grow at an annual growth rate of 380 million US dollars.
The Nigerian government gives tax incentives to companies investing in Nigeria and plans to establish a pharmaceutical free trade zone near the capital. Since the introduction of the Export Processing Zones Act in 1992, Nigeria has announced that it will establish more than 20 free trade zones. The pharmaceutical industry, as the Nigerian pioneer industry, stipulates that foreign companies or joint ventures invest more than US$40,000 in Nigeria to obtain a tax holiday. The private healthcare market in sub-Saharan Africa is approximately US$18.6 billion. If the government in the region can eliminate corruption and continue to grow, this figure will increase three-fold. Foreign investors can choose to provide low-cost generic drugs or open hospitals in foreign countries. Or provide medical insurance.
In June 2005, the Nigerian government promulgated the National Medical Insurance Plan (NHIS Plan) and issued a presidential directive that aims to achieve universal health coverage in 2015. The purpose of the NHIS is to allow all public and private sector employees to hand over 15% of their income (5% to employees, 10% to employers) to the Health Maintenance Organization (HMO), who is responsible for the distribution of health care. As of 2009, the Nepalese government has allocated US$307 million for the NHIS plan. At present, 7,000 health care centers, 1,524 pharmacies, 32 HMOs, 15 banks, 5 insurance companies, and 3 insurance brokers have joined the NHIS program.
Strict supervision has new changes
The main regulatory agency in Nigeria is the National Food and Drug Administration (NAFDAC). NAFDAC requires NiPA to provide checklists with a list of shipments and goods. Only GMP-certified pharmaceutical companies can import drugs to Nigeria. When registering or re-registering a product, the NAFDAC must inspect the factory that produces the product, regardless of where the drug is located. In addition, NAFDAC has mandatory requirements for importers to provide pre-shipment information for all products before they arrive.
In order to protect local drug manufacturers in Nigeria and reduce dependence on imported drugs, Nigeria imposes high registration fees on imported drugs. For example, the registration fee for each imported prescription drug is $2,200, and the registration fee for each OTC product is $10,000. . The prescription drug registration fee can be broken down into an import license fee of 10,000 Naira (approximately US$77), a process processing fee of 140,000 Naira (approximately US$1081), and a registration fee of 100,000 Naira (US$772). In addition, different dosage forms (such as capsules and tablets) and doses of the same drug need to be registered separately. Because the fees are too high, although given certain tax benefits to multinational corporations, they are not enough to make up for the high costs and high-quality medicines are still difficult to flow into the market.
As part of Nigeria's national drug policy, NAFDAC has learned from the experiences of India, Cameroon and Switzerland and has begun to establish regional drug distribution center systems (ZDDCs). The plan is to establish ZDDCs in six political regions in Nigeria. Each center has 800 drug wholesalers, and each store must be equipped with a pharmacist to ensure the safety and quality of medicines, strengthen the control of the entire pharmaceutical supply chain, and reduce false Pharmaceutical trade.
Nigeria stipulates that all drug wholesalers and distributors must register with the Pharmacist Board (PCN) and follow their prescribed distribution guidelines. In order to cooperate with the government to strengthen supervision of the pharmaceutical industry, PCN has formulated and issued new guidelines for drug distribution. Companies that do not meet the requirements will be revoked. Under the new system, an agency that holds a “blue†license can provide medication advice to patients and can only engage in retail sales of medicines; companies that hold “white†licenses can only engage in the wholesale of pharmaceuticals, not retail drugs and provide medications. Consulting; companies that only engage in import operations issue “grey†licenses for them.
Long-term development prospects are optimistic
Calculated in Nigerian local currency, Nigerian drug spending will increase at a CAGR of 3.24% over the next five years. If calculated in U.S. dollars, the actual average annual growth rate of drug expenditure in the next few years should be 1.59%. By 2013, it will reach 695 million U.S. dollars, and the proportion of GDP in GDP will drop from 2.8% in 2008 to 2%.
For Nigeria's pharmaceutical industry, the development situation in the next four years is still optimistic. According to the forecast of International Business Watch BMI, by 2013, the market size of Nigerian prescription drugs will increase to US$565 million, accounting for 81% of the total drug expenditure. The OTC drug market is developing relatively slowly. It is expected that by 2013, the OTC market will be 311 million U.S. dollars, with an average annual growth rate of less than 1%, which may be related to the presence of counterfeit drugs in the form of OTC.
Because African countries lack medicines and medicine, and the health care infrastructure is relatively backward, most patients tend to be self-medical, and they are the first choice for OTC drugs as analgesics. According to statistics, in 2008, analgesics accounted for a market share of US$ 26.78 million, accounting for 20.6% of the OTC market. It is expected that OTC analgesics will increase to US$ 40 million by 2013. At present, many multinational drug companies have begun to adopt market promotion methods to increase the OTC drug market share. For example, GSK has established its Panadol brand through advertising and has already included 85 companies including Nigeria. Countries and regions promote the listing.
In 2008, the generic pharmaceutical market share in Nigeria was 185 million U.S. dollars, and it is expected to grow at an average annual growth rate of 3% in the future. By 2013, the market share will increase to 215 million U.S. dollars, accounting for more than 70% of the entire pharmaceutical market. In addition, the government has eliminated the tariffs on raw materials used to produce lifesaving medicines in order to encourage local production of antiviral drugs. This is a promising prospect for generic manufacturers who are committed to the development of the African market.
In addition to positive economic development data, the strong growth of Nigeria’s GDP, the increase in government healthcare expenditures, the increasing population, the continuous expansion of the country’s medical insurance coverage, the increase in the number of hospitals, and the establishment of free trade zones are all driving Ni Medicine’s The core driving force of market development.
In December 2007, the World Bank’s International Finance Corporation (IFC) granted a loan of US$1 billion for the development of health care in Africa. In 2009, the World Bank approved another $180 million for the control of malaria in African countries. This is the largest anti-malaria campaign to date. With the implementation of Nepal NHIS plan, the country's medical insurance system will be further improved in the next few years. The state encourages the development of medicine and increases the investment in medical care to provide the largest promotion role for the pharmaceutical industry, making the per capita expenditure on medicines increase by more than 20% in the next four years.
Multinational pharmaceutical companies have great opportunities
The increasing epidemic situation in Nigeria, where healthcare spending is increasing, and the intellectual property system that is currently being implemented, provides tremendous opportunities for pharmaceutical companies.
Nigeria currently has 10,600 primary health care centers, 1,000 secondary treatment centers and more than 50 tertiary centers. With the increase of population and improvement of medical and health conditions, Nigeria is still expanding the hospital, which will greatly increase the demand for medicines and medical equipment. In addition, due to the low utilization of the local pharmaceutical industry, Nepal has a huge import dependence on high value-added drugs, and 60% of essential drugs need to be imported.
At present, Nigeria has officially registered more than 100 pharmaceutical companies, of which about 20 are multinational pharmaceutical companies. Most of these large companies do not set up factories in Nigeria, but cooperate with local manufacturers. Representative multinationals include GlaxoSmithKline, Pfizer and Solvay. In addition, some non-Western drug manufacturers are also entering the Nepal market. In May 2005, Pakistani pharmaceutical company Efroze Chemical Industry introduced its products to the Nigerian market. India Glenmark Pharmaceuticals has listed 14 products in Nigeria, mainly in the field of anti-infective drugs and skin medications. It is estimated that sales will reach 10 million US dollars by 2012.
In December 2008, Bangladesh Popular Pharmaceutical's 30 million-invested production facility was approved by NAFDAC, and the plant also received WHO's GMP certificate. As of February 2009, the plant has sold 18 drugs including insulin, azithromycin, metoprolol, proseline and carvedilol in Nigeria. Recently, Kalbe Farma in Indonesia is trying to invest US$25 million in a joint venture with native Nigerian producer Orange Drugs.
Nigeria, as a relatively developed English-speaking African country, has a relatively good industrial base. The government's medical insurance plan and anti-counterfeit drug campaign will greatly reduce counterfeit drug trade and standardize the pharmaceutical circulation market. However, due to the lack of a patent law and a medical reimbursement system, the Nigerian health care sector lacks long-term funding and serious brain drain.
As for other incentives, the reorganization of the Nigerian Ministry of Health and the National Health Council will increase foreign capital inflows. The establishment of a patent system and the establishment of a pharmaceutical free trade zone in accordance with the TRIPS Agreement will reduce barriers to drug inflows and promote the healthy and orderly development of the pharmaceutical market. According to BMI's forecast, in 2008, the value of Nigeria's drug imports was US$150 million, and it is expected to increase to US$320 million by 2013, and the medical trade deficit will further increase. The Nigerian pharmaceutical market has great potential, but due to the lack of domestic investment and unreliable energy supply, the local pharmaceutical industry has developed slowly. At present, the government is attracting foreign investment by improving infrastructure and establishing a centralized pharmaceutical production area.
Sino-Nepalese Trade and Sustainable Development
In 2009, China exported 364,500 tons of pharmaceutical products to Nigeria, an increase of 5.62% year-on-year in 2008, and the export value was US$168 million, a year-on-year decrease of 2.99%. Among them, Western medicine raw materials accounted for the largest proportion of exports, accounting for 34.84% of my exports to Nepal, followed by Western medicine, hospital diagnosis and treatment equipment and disposable consumables.
In 2009, under the circumstances that the financial crisis and counterfeit medicine incidents had a serious impact on China’s pharmaceutical exports, China’s exports of Nigeria’s biochemical drugs have grown substantially, with exports reaching US$113.124 billion, an increase of 63.06% year-on-year in 2008. In addition, Nigeria has now become the largest non-exporter of western medicines in China. In 2009, the export volume of Nissi pharmaceutical preparations was 46,700 tons, an increase of 22.54% over 2008, and the export volume reached 56.13 million US dollars, accounting for the western medicine preparations. More than 24% of the total non-exports, and mainly anti-infective drugs, analgesics, antimalarial artemisinin and disposable consumables and hospital diagnostic equipment.
Nevertheless, we should also see the impact of the incidents of counterfeit medicines that have occurred in recent years on non-exports to China, and India’s threat to the country as a Nigerian’s largest importer of antiviral drugs. While actively exploring the African market, we must firmly establish a good image of Chinese pharmaceutical companies and pharmaceutical products. After all, judging from the macro factors and the performance of the world's pharmaceutical market in recent years, pharmaceutical companies in China still need to continue to regard African countries represented by Nigeria as one of the most important export markets for western medicines in the world.
Botanical Extracts (Herb extracts) refers to the ingredients extracted or processed from plant (all or a portion of the plant) by suitable solvents or methods. They can be used in the pharmaceutical, food, health, beauty and other industries.
We source and supply these ingredients of plant (botanicals) primarily to specialty food and nutritional industries. We are steadfast and committed to our sales support, research and development of any botanical we supply. We have perpetual inventory and we choose to "optimize" formulations with our clients.
Botanical Extracts
Plant Extracts,Botanical Extracts,Fruit Extracts,Natural Extracts
SINOCHEM PHARMACEUTICAL CO., LTD , http://www.sinochemnutrition.com