PROSPECTS AND OPPORTUNITIES
Expected economic recovery will drive stronger demand
The market for analgesics in Nigeria is poised for steady expansion in constant value terms (2024 prices) over the forecast period, supported by an increase in formal employment and improved economic stability. Despite current economic pressures leading to higher unit prices and reduced consumer spending, the persistent prevalence of common ailments such as malaria, typhoid fever, and chronic pain conditions will sustain their demand.
Adult acetaminophen will be key driver of growth
Adult acetaminophen is projected to lead in terms of sales value within analgesics due to its reputation for efficacy and safety, and compatibility with other medications, such as anti-malaria drugs. Its established popularity, ease of purchase, and affordability will drive its continued strong performance.
High unit prices will remain a strong feature of the market
Economic challenges are expected to continue limiting the performance of analgesics over the forecast period. The 2023 exit of GlaxoSmithKline Plc from direct Nigerian operations – to focus on a third party import structure - highlights the tough conditions faced by companies in the region.
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Overview:
Understand the latest market trends and future growth opportunities for the Analgesics industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Analgesics industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Analgesics in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Analgesics in Nigeria?
- Which are the leading brands in Analgesics in Nigeria?
- How are products distributed in Analgesics in Nigeria?
- How has the regulatory and operating environment for Analgesics changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Analgesics
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Analgesics in Nigeria - Category analysis
KEY DATA FINDINGS
Inflationary pressures have negative impact on performance
Adult acetaminophen leads growth
New product development remains muted in 2024
Expected economic recovery will drive stronger demand
Adult acetaminophen will be key driver of growth
High unit prices will remain a strong feature of the market
Consumer Health in Nigeria - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Analgesics
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- Adult Acetaminophen
- Adult Aspirin
- Adult Combination Products - Analgesics
- Adult Diclofenac
- Adult Dipyrone
- Adult Ibuprofen
- Adult Ketoprofen
- Adult Naproxen
- Adult OTC Triptans
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- Paediatric Acetaminophen
- Paediatric Aspirin
- Paediatric Combination Products - Analgesics
- Paediatric Dipyrone
- Paediatric Ibuprofen
- Paediatric Naproxen
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- Acetaminophen
- Aspirin
- Combination Products - Analgesics
- Diclofenac
- Dipyrone
- Ibuprofen
- Ketoprofen
- Naproxen
- OTC Triptans
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- Topical Analgesics/Anaesthetic
Analgesics
Analgesics cover systemic and topical pain relievers. Products which include a pain-relief ingredient in addition to another core function are excluded (e.g. a sore throat remedy which includes paracetamol is excluded from the analgesics and instead is included in pharyngeal remedies).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Analgesics research and analysis database.
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