The Times Of Africa
Nigerias Pharmaceutical MarketA Gigantic Ground Of Opportunities Image Credit: The Times Of Africa
Nigerias Pharmaceutical MarketA Gigantic Ground Of Opportunities Image Credit: The Times Of Africa

Nigeria's Pharmaceutical Market, A Gigantic Ground Of Opportunities

Health is a crucially important social and economic asset, a cornerstone for human development.

Being healthy is a foundation for economic development and essential to a good quality of life. Article 25 of the Universal Declaration of Human Rights states that “everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care.” Fulfilling the right to health is not only about ensuring the absence of illness, infirmity and disability, but it also means enabling social wellbeing. Pharmaceutical products play an important role in healthcare. In addition to well-trained and motivated health professionals, medicines are among the most effective ways to prevent, alleviate and cure disease.

The majority of illnesses affecting people living in poverty can be treated using the medicines listed on the World Health Organization (WHO) Essential Medicines List. The main responsibility for ensuring public health lies with local governments and national institutions. Governments have the duty to respect, protect and fulfill the right to health progressively, within their means. They should do their best to ensure availability, accessibility, acceptability and quality of health services including reforming current healthcare systems to positively impact the health of the poor.

Rewarding destination

The pharmaceutical market is forecasted to grow more than double to US$1.3 trillion by 2020. The growth markets include, in descending o


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