NIGERIA NEUROPATHIC PAIN MANAGEMENT DRUGS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2021 to 2028)

Neuropathic pain is a complex, long-term pain condition that is frequently accompanied by tissue damage. It may cause nerve fiber damage which results in failure in signal transmission to  pain centers. A nerve fiber injury causes a change in nerve function both at the lesion site and the surrounding tissues. Thyroid problems, syphilis, spine surgery, shingles, nerve or spinal cord compression from herniated discs or arthritis in the spine, multiple sclerosis, multiple myeloma, HIV infection, facial nerve problems, diabetes, chemotherapy, amputation, or alcoholism are some of the causes of neuropathic pain. In the treatment of neuropathic pain, tricyclic antidepressants, anticonvulsants, local anesthetics such as Lidocaine, Arnica, and Capsaicin, opioids, and steroids are employed.

Market Dynamics

Increasing presence of branded and generic versions of drugs for the treatment of neuropathic pain, increasing prevalence of diseases such as cancer and diabetes, are the major factors that are expected to drive growth of the Nigeria neuropathic pain management drugs market over the forecast period.

For instance, according to the International Diabetes Federation (IDF) Atlas, an umbrella organization of over 230 national diabetes associations, around 24 million adults in the Africa are living with diabetes in the year 2021.

Moreover, there are limited number of manufacturers in Nigeria such as May & Baker Nigeria Plc., CHI Pharmaceuticals Limited, and others who manufacture analgesics, NSAIDs, and other pain medications. Majority of these medications are imported from the countries of North America, Europe, and Asia Pacific regions. Nigerian manufacturers have significant scope to produce generic products in the country with cGMP guidelines and build a scalable business. Majority of drugs such as tricyclic antidepressants, and anticonvulsants are imported in Nigeria, and domestic manufacturing of these drugs could prove to be a sustainable business.

Key features of the study:

• This report provides an in-depth analysis of the Nigeria neuropathic pain management drugs market, and provides market size (US$ Mn.) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the Nigeria neuropathic pain management drugs market based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
• Key companies covered as a part of this study include Pfizer Inc., Novartis AG, GlaxoSmithKline Plc, and Biofemgroup Ltd.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The Nigeria neuropathic pain management drugs market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Nigeria neuropathic pain management drugs market

Detailed Segmentation:

• Nigeria Neuropathic Pain Management Drugs Market, By Drug Class:
  • Anticonvulsants
  • Serotonin–norepinephrine Reuptake Inhibitors (SNRIs)
  • Tricyclic Antidepressants
  • Nonsteroidal Anti-inflammatory Drugs (NSAIDs)
  • Others
• Nigeria Neuropathic Pain Management Drugs Market, By Disease Indication:
  • Diabetic Neuropathy
  • Chemotherapy-induced Peripheral Neuropathy
  • Others
• Nigeria Neuropathic Pain Management Drugs Market, By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• Company Profiles
  • Pfizer, Inc.*
    • Company Overview
    • Material Portfolio
    • Financial Performance
    • Key Highlights
    • Market Strategies
  • Novartis AG
  • GlaxoSmithKline Plc
  • Biofemgroup Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.