startxref By 2021, healthcare spending is estimated to make up 2.94% of the country’s GDP. 5725 According to a report by Fitch Solutions, healthcare expenditure in Nigeria is predicted to reach NGN 5,762.061 billion by 2021 growing at a CAGR of 8.35% Y.O.Y. 0000040141 00000 n This boils down to health security. This was short of the 2.5% projected for the first quarter of 2019. The market studied is primarily driven by the rising incidences of chronic diseases and the increasing demand for accurate disease diagnosis, along with the government’s focus on public-private partnerships. There have been set-backs, but also notable triumphs, and below are prominent themes that dominated the Nigerian health sector in 2017. 0000009588 00000 n Nigeria has one of the largest stocks of human resources for health (HRH) in Africa but, like the other 57 HRH crisis countries, has densities of nurses, midwives and doctors that are still too low to effectively deliver essential health services (1.95 per 1,000). page 1 $ 990 March 2020, NRT Smoking Cessation Aids in Nigeria 0000000016 00000 n Research was carried out in the healthcare industry of Nigeria focusing on key elements such as the regulatory environment, expenditure, medical insurance, procurement and distribution of goods. 1 1. execUtive sUmmary At the request of the United States Agency for International Development (USAID)/Nigeria, Private Sector Partnerships-One (PSP-One) conducted an assessment of the private sector in Nigeria for the provision of reproductive health and family planning products and services. Research was carried out in the healthcare industry of Nigeria focusing on key elements such as the regulatory environment, expenditure, medical insurance, procurement and distribution of goods. The US engineering and construction (E&C) industry began 2020 on a bright note—and then COVID-19 hit. The study focused particularly on somestates in Northern Nigeria that shared similar demographic characteristics. 0000040104 00000 n According to Swiss Re’s (a leading global reinsurance firm) 2017 Review and 2018/19 Outlook Report, global non- life premiums increased moderately, growing by 3.0% in 2017, driven by a 6.0% and 2.0% premium growth in emerging and advanced economies respectively. Years of pride Long before Independence Day on October 1, 1960, in the 1940s and 1950s, Nigeria … With COVID-19, many of these 53 million vulnerable people could fall into poverty. Nigeria will need to significantly upgrade its health sector spending if the aspirations of government and the needs of all citizens are to be met. Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Nigeria. The paper provided an in-depth analysis of how women who constituted the largest percentage of health ‘consumers’ are 0000017939 00000 n This is the most comprehensive and up-to-date health and fitness industry research report available. September 2018, Nigeria Prepaid Cards Business and Investment Oppor… Systematic Updates. BusinessDay also plans to publish a larger report covering the entire spectrum of the health market in Nigeria and titled “Health Financing in Nigeria Report: Issues, Trends & Outlook.” Nigeria’s population is estimated at 186 million and is growing at 3 percent annually, with … Search industry reports, statistics & slideshows, Download Unlimited Documents from Trusted Public Sources, Global Infectious Disease Economic Impact, Healthcare and Bank Lending Markets in Nigeria, Purchase Reports From Reputable Market Research Publishers. Chapter | Health & Education from The Report: Nigeria 2019 Efforts to develop the Nigerian health care system have been hindered by several notable challenges, including limited public funding, a high communicable diseases burden, rising incidence of non-communicable diseases, and elevated rates of infant and maternal mortality. This is up from an estimated NGN 5,318.061 billion in 2020. Another important sector of the healthcare sector is the pharmaceutical sector. 0000011840 00000 n 0000011757 00000 n Growth in the Nigeria food and non-alcoholic drinks market will slow over 2021, as the sector moves from higher than normal growth over 2020, as a result of consumer's reacting to the Covid-19 pandemic. The National health insurance scheme NHIS took off in 2005. Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in Nigeria with research from Euromonitor's team of in-country analysts. 49 0 obj <> endobj %%EOF May 2019, Mycobacterium Tuberculosis Tests - Medical Devices Pipeline … 0000002403 00000 n $ 1900 $ 990 0000013037 00000 n 0000010681 00000 n Read Also: Problems of Nigeria Health Sector and Possible Solutions. Nigeria has one of the largest stocks of human resources for health (HRH) in Africa but, like the other 57 HRH crisis countries, has densities of nurses, midwives and doctors that are still too low to effectively deliver essential health services (1.95 per 1,000). 0000006200 00000 n Despite the challenges that have resulted, there are reasons to be optimistic. ReportLinker simplifies how Analysts and Decision Makers get industry data for their business. 0000002516 00000 n BMI Research was acquired by Fitch Group in 2014. Nigeria Statistics Consumer Lifestyles in Nigeria Nigeria Country Briefings Future Demographics: Nigeria in 2030 Sanne Wass, “Banks raise concern over insider threats as pandemic takes toll on mental health,” S&P Global Market Intelligence, October 26, 2020. But even though the health threat was new, challenges of the health sector were not. Also, the unavailability of consistent and timely data on the Nigerian health sector for decision making pushes companies intending to invest in Nigeria to conduct a thorough market assessment for the specific products and services they plan to bring in. Also, the unavailability of consistent and timely data on the Nigerian health sector for decision making pushes companies intending to invest in Nigeria to conduct a thorough market assessment for the specific products and services they plan to bring in. $ 2650 In addition to the social cost of substandard, ineffective and potentially dangerous products being sold in … 0000031824 00000 n Nigerian Construction Sector Summary Report 2010-2012: 5: 10: 27: Construction of building, Construction of Roads, Construction of Railways, Construction of other civil engineering project, Construction of utility project, Demolition and site preparation. If Nigeria hopes to reverse the trend of decline and realign its economy for inclusive growth, then a healthy workforce is a necessity. The Nigerian clinical laboratory services market is expected to register around a CAGR of 5.5% during the forecast period. Make sure you don’t miss any news and follow us on. $ 1995 Information Technology has made a substantial inroad into Nigerian society, particularly since the late 1980s. 0000001340 00000 n Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in Nigeria with research from Euromonitor's team of in-country analysts. GDP. The recovery in the global macroeconomy trickled into the insurance sector in 2017. 0000008470 00000 n The critical role of leadership Leadership has always […] 0000024645 00000 n Nigeria Food & Beverage Reports: Our 2020 Nigeria report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Food & Beverage market. Nigeria. 0000002368 00000 n Combining oil and gas wealth with the entrepreneurial efforts of its predominantly young population, Nigeria has developed a business-friendly environment over the past two decades of civilian rule. Unlike others, you get extended access to the 2021 edition, including any updates that are made as new market data becomes available. 0000000856 00000 n The United Nations have seventeen sustainable development goals, of which number three is “ensure healthy lives and promote wellbeing for all at all age”. With a strong focus on emerging and frontier markets, our comprehensive portfolio of research reports allows you to evaluate, track and quantify market size and position, growth opportunities and risks across 200 markets and 22 industry sectors as well as gain crucial intelligence on the key themes changing the industry landscape. 49 28 A Strategic Study of the Nigerian Pharmaceutical Sector: Organizational Leadership, Market-share, and Competitive Performance Dr. Ogechukwu C. Ugbam Department of Management University of Nigeria Enugu Campus Ephraim A. Okoro, PhD Department of Marketing School of Business Howard University Washington D.C. Abstract Despite inconsistencies in data collection and interpretation, available resources demonstrate the existence of a growing, heavily utilized Nigerian private health sector … Others, you get extended access to the health sector National health insurance NHIS... 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