Nigeria Antirheumatic Drugs market was valued at US$2,784.330 million in 2019. The primary factors that are driving the demand for numerous antirheumatic drugs in the country include the rising prevalence of malaria along with the constantly growing aging population of the country as the people with old age are more susceptible to various types of rheumatic diseases and chronic pains. According to the data provided by the World Bank Group, the geriatric population in the country has been growing constantly, reaching 5,381,418 by 2018 from 4,149,672 in the year 2008. Furthermore, the high prevalence of malaria in the country is also projected to positively impact the demand for various types of antirheumatic drugs and thus, drive the market growth throughout the forecast period. For instance, according to the World Malaria Report 2019, by the World Health Organization, nineteen countries in sub-Saharan Africa and India accounted for more than 85% of the total cases of malaria in the world, in which Nigeria accounted for 25% during the year 2018.
Furthermore, the participation of key Nigerian pharmaceutical companies in the form of partnerships, acquisitions, and facility expansions with an aim to offer the Nigerian market with the latest healthcare products and services further shows the potential for the market to grow in the near future. For instance, Fidson Healthcare Plc, a leading pharmaceutical manufacturing company based out of Nigeria announced its strategic alliance with Ohara Pharmaceutical Co. Ltd, a leading Japanese healthcare company for bringing in the cutting edge technology and innovation for the enhancement of the company’s pharma space and offerings.
Nigeria Antirheumatic Drugs market has been segmented based on the type of disease, type of molecule, and sales channel. By type of disease, the market has been segmented as osteoarthritis,rheumatoid arthritis, gout, lupus, and others. By type of molecule, the Nigeria Antirheumatic Drugs market has been classified into pharmaceuticals and biopharmaceuticals. The market segmentation has also been done by sales channel as prescription and over-the-counter (OTC).