Immunosuppressants - Nigeria

Nigeria

In Nigeria, the Immunosuppressants market is expected to witness a significant revenue growth.
It is projected that by 2024, the revenue will reach US$55.59m.
Furthermore, the market is anticipated to maintain a steady annual growth rate of 17.31% (CAGR 2024-2029), resulting in a market volume of US$123.50m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated value of US$35,470.00m in 2024.
The demand for immunosuppressants in Nigeria is on the rise due to the increasing prevalence of organ transplant surgeries.

Key regions: Australia, Germany, United Kingdom, United States, France

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Analyst Opinion

The Immunosuppressants market in Nigeria has been experiencing significant growth in recent years.

Customer preferences: Nigerian customers are increasingly demanding immunosuppressants due to the rise in autoimmune diseases and organ transplant surgeries. Additionally, the country's aging population has also contributed to the growing demand for such drugs.

Trends in the market: The market for immunosuppressants in Nigeria is being driven by the increasing prevalence of autoimmune diseases and organ transplant surgeries. The demand for these drugs is expected to continue to grow in the coming years due to the rising incidence of these diseases, as well as the increasing availability of these drugs in the country.

Local special circumstances: Nigeria is the most populous country in Africa and has a large population of people suffering from autoimmune diseases. The country also has a growing number of hospitals and healthcare facilities that are equipped to perform organ transplant surgeries, which has further increased the demand for immunosuppressants.

Underlying macroeconomic factors: Nigeria's economy has been growing in recent years, which has led to an increase in disposable income and healthcare spending. The government has also been investing heavily in the healthcare sector, which has led to the development of new hospitals and healthcare facilities across the country. These factors have contributed to the growth of the immunosuppressants market in Nigeria.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.