PROSPECTS AND OPPORTUNITIES
Improving economic conditions, combined with demographic changes will boost overall demand
The market for dermatologicals is expected to see positive growth in current value terms over the forecast period, underpinned by an improving economy and a more stable pricing environment, particularly in niche categories like. At the same time, the expanding young population, the growing number of families with children and the rise of the country’s professional class will drive demand for specialised products, such as, medicated shampoos and cold sore treatments which are not deemed essential by most of the population.
Topical antifungals, vaginal antifungals and topical germicidals/antiseptics will lead category growth
Essential categories such as topical antifungals, vaginal antifungals will continue to lead overall growth over the forecast period. This will align with the increasing population, as fungal infections remain common, driving demand for treatments.
Affordability will continue as major concern of manufacturers
The primary challenge impacting the market for dermatologicals over the forecast period will be continuing inflationary pressures, which will likely constrain disposable incomes and weaken consumer spending power. Economic conditions have already severely hindered consumer demand, and if these conditions persist, consumption is likely to decline even further.
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Overview:
Understand the latest market trends and future growth opportunities for the Dermatologicals 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 Dermatologicals 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 Dermatologicals 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 Dermatologicals in Nigeria?
- Which are the leading brands in Dermatologicals in Nigeria?
- How are products distributed in Dermatologicals in Nigeria?
- How has the regulatory and operating environment for Dermatologicals changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Dermatologicals
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Dermatologicals in Nigeria - Category analysis
KEY DATA FINDINGS
Inflationary pressures continue to impact on demand
Vaginal and topical antifungals perform strongly, due to their perceived essential status
Companies focus on smaller pack sizes
Improving economic conditions, combined with demographic changes will boost overall demand
Topical antifungals, vaginal antifungals and topical germicidals/antiseptics will lead category growth
Affordability will continue as major concern of manufacturers
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:
Dermatologicals
- Medicated Shampoos
- Topical Antifungals
- Vaginal Antifungals
- Hair Loss Treatments
- Nappy (Diaper) Rash Treatments
- Antiparasitics/Lice (Head and Body) Treatments
- Antipruritics
- Cold Sore Treatments
- Haemorrhoid Treatments
- Paediatric Dermatologicals
- Topical Allergy Remedies/Antihistamines
- Topical Germicidals/Antiseptics
Dermatologicals
Includes topical standard and herbal/traditional medicated products used to alleviate symptoms or treat skin or hair ailments. Exclude any systemic (oral) options to treat skin conditions or diseases.
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 Dermatologicals research and analysis database.
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