Frost & Sullivan Research Service
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Frost & Sullivan Research Service
| Published: 9 Feb 2011 |
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Research Overview |
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This Frost & Sullivan research service titled Pharmaceutical Industry in Ghana and Nigeria provides insight into the current market value, projected future growth and current trends in the West African pharmaceutical market and highlights key opportunities in each therapeutic segment. In this research, Frost & Sullivan's expert analysts thoroughly examine the following therapeutic segments: anti-infectives, cardiovascular, diabetes, respiratory, oncology and central nervous system. This analysis is available through our Pharmaceuticals & Biotechnology Growth Partnership Services programme. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services programme ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here. Market Overview Increase in Non-communicable Diseases creates Lucrative Market Opportunities for Generics With the adoption of a more western lifestyle characterised by less healthy diets and more sedentary activities across West African countries like Nigeria and Ghana, the incidence of non-communicable diseases, particularly hypertension and diabetes, have increased. As the demand for chronic medicines for these conditions surges, lucrative market opportunities, particularly in the generic market, have opened up. “The dual burden of communicable and non-communicable diseases in Ghana and Nigeria is the main driver for growth of the pharmaceutical industry in the region,” notes the analyst of this research. “Second and third, only to anti-infectives, in terms of contribution to the 2009 annual pharmaceutical industry revenues in Ghana and Nigeria were medicines for cardiovascular conditions and diabetes.” Treatment for diabetes and cardiovascular conditions such as hypertension is typically chronic, thereby creating a continual demand for diabetes and hypertension medicines. Several foreign generic companies have entered the West African market and more local manufacturers are focussing on medicines for hypertension and diabetes. Focus on Product Quality to Help Foster Brand Loyalty and Obviate Price Sensitivity of Consumers As the major proportion of consumers in Ghana and Nigeria are price-sensitive, competition with low-cost Asian generics is a challenge for the majority of participants in the market. The cost of conducting business for local manufacturers is particularly high. “Price is an important purchasing criterion for the Ghana National Health Insurance (NHI) which covers 66.4 per cent of the population in Ghana and the NHI will only pay for generics,” explains the analyst. “Additionally, government tenders in both countries are awarded mainly on the basis of price.” It is important that companies in this market identify their target customers and differentiate themselves accordingly. Although the majority of consumers in the region are price sensitive, several others are brand loyal and willing to pay the cost for their preferred brands. “Although pricing is a major factor to success in Ghana and Nigeria, other factors such as having good quality products, having a robust distribution network, good marketing strategies and brand recognition are equally important,” concludes the analyst. “Pharmaceutical companies can leverage these factors to attain a competitive position in the market.” Market Sectors Expert Frost & Sullivan analysts thoroughly examine the following therapeutic segments in this research:
By Country:
Frost & Sullivan Growth Partnership Services Frost & Sullivan's Growth Partnership Services empower companies to accelerate their growth by achieving top-line improvements and bottom-line results. This is accomplished by helping our clients execute successful growth strategies and providing their Growth Teams™ with the skills, know-how, and tools to generate growth opportunities, evaluate these opportunities to create a growth pipeline, and implement a growth strategy to deliver measurable business results. Our growth solutions support the entire growth process: TEAM Research is a program that furnishes clients with access to market research, competitive intelligence, financial benchmarking, and market strategies and analysis, and provides access to industry experts to aid in generating growth opportunities.Growth Consulting Services unite clients with our industry experts to evaluate opportunities and develop customised strategies and business plans to drive top-line revenue and margin growth.Growth Team Membership™ is a career-focused offering that was developed to address the unique challenges that senior executives face when implementing strategies to achieve aggressive corporate growth targets. |
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Table Of Contents |
1. Executive Summary
2. Research Aim and Objectives
3. Research Scope, Definitions and Exchange Rates
4. Research Methodology
5. Pharmaceutical Industry; Ghana and Nigeria
5.1 Introduction
5.2 Market Engineering Measurements
5.3 Industry Challenges
5.4 Market Drivers
5.5 Market Restraints
5.6 Total Pharmaceutical Industry Revenue Forecast
5.7 Public and Private Sector Revenue Forecasts
5.8 Segmental Revenue Forecasts
5.9 Revenue Forecasts by Therapeutic Segment
5.10 Future Growth Potential by Therapeutic Segment
5.11 Porter’s Five Forces Analysis
5.12 Strengths, Weaknesses, Opportunities, Threats Analysis
5.13 Key Success Factors
6. Ghanaian Pharmaceutical Industry
6.1 Country Overview
6.2 Healthcare Overview
6.3 Pharmaceutical Industry Overview
6.4 Market Engineering Measurements
6.5 Total Pharmaceutical Industry Revenue Forecast
6.6 Growth of Key Segments
6.7 Revenue Forecasts by Therapeutic Segment
6.8 Competitive Structure
6.9 Local Manufacturing
6.10 Competitor Analysis
6.11 Competitor Profiles
6.12
7. Nigerian Pharmaceutical Industry
7.1 Country Overview
7.2 Healthcare Overview
7.3 Pharmaceutical Industry Overview
7.4 Market Engineering Measurements
7.5 Total Pharmaceutical Industry Revenue Forecast
7.6 Growth of Key Segments
7.7 Revenue Forecasts by Therapeutic Segment
7.8 Competitive Structure
7.9 Local Manufacturing
7.10 Competitor Analysis
7.11 Competitor Profiles
7.12
8. Conclusions
9. About Frost & Sullivan
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