Report Update Nov 1, 2024

Nigeria - Antibiotics - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Antibiotic Market 2024

Antibiotic Market Size in Nigeria

In 2021, the Nigerien antibiotic market decreased by 0% to less than $X, falling for the third year in a row after two years of growth. In general, consumption posted significant growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Antibiotic Production in Nigeria

In value terms, antibiotic production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 7.2% against the previous year. Antibiotic production peaked in 2021 and is expected to retain growth in the near future.

Antibiotic Exports

Exports from Nigeria

Antibiotic exports from Nigeria surged to X kg in 2019, increasing by 170% against the previous year's figure. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2017 when exports increased by 266%. As a result, the exports reached the peak of X tons. From 2018 to 2019, the growth of the exports remained at a somewhat lower figure.

In value terms, antibiotic exports soared to $X in 2019. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2017 with an increase of 333%. As a result, the exports attained the peak of $X. From 2018 to 2019, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X kg) was the main destination for antibiotic exports from Nigeria, with a approx. 100% share of total exports.

From 2012 to 2019, the average annual growth rate of volume to Ghana stood at +19.8%.

In value terms, Ghana ($X) also remains the key foreign market for antibiotics exports from Nigeria.

From 2012 to 2019, the average annual growth rate of value to Ghana amounted to -4.1%.

Antibiotic Imports

Imports into Nigeria

In 2021, supplies from abroad of antibiotics increased by 4.8% to X tons, rising for the fourth consecutive year after two years of decline. Overall, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 208%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, antibiotic imports dropped markedly to $X in 2021. In general, imports showed a strong expansion. The growth pace was the most rapid in 2020 when imports increased by 59% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

China (X tons), India (X tons) and the United States (X tons) were the main suppliers of antibiotic imports to Nigeria, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +31.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest antibiotic suppliers to Nigeria were India ($X), China ($X) and the United States ($X), with a combined 96% share of total imports.

India, with a CAGR of +10.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for antibiotics in the world?

The country with the largest volume of antibiotic consumption was China, accounting for 23% of total volume. Moreover, antibiotic consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with a 9% share.

What are the largest producers of antibiotics in the world?

China constituted the country with the largest volume of antibiotic production, comprising approx. 61% of total volume. Moreover, antibiotic production in China exceeded the figures recorded by the second-largest producer, the United States, eightfold. The third position in this ranking was occupied by Switzerland, with a 4.1% share.

What are the leading suppliers of antibiotics to Nigeria?

In value terms, China, India and the United Arab Emirates were the largest antibiotic suppliers to Nigeria, with a combined 91% share of total imports. These countries were followed by Belgium, the UK and Italy, which together accounted for a further 4.8%.

What are the leading importers of antibiotics from Nigeria?

In value terms, Niger remains the key foreign market for antibiotic exports from Nigeria.

What is the average export price for antibiotics in Nigeria?

In 2021, the average antibiotic export price amounted to $19,189 per ton, therefore, remained relatively stable against the previous year.

What is the average import price for antibiotics in Nigeria?

In 2021, the average antibiotic import price amounted to $27,873 per ton, rising by 42% against the previous year.

This report provides an in-depth analysis of the antibiotic market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21105400 - Antibiotics

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023