The market for sterile pharmaceutical products—such as IV solutions, eye drops, and injectables—is expanding rapidly across West Africa. As part of a project for a large German pharmaceutical company, africon conducted an in-depth analysis of this segment, focusing on these products, to assess market size and growth rates.
Our findings indicate that sterile products account for approximately 25–30% of the overall pharmaceutical market in Africa, making them a crucial component of the healthcare sector. Within this category, Nigeria dominates the West African market, with a sector valued at nearly half a billion USD, significantly outpacing Ghana and Côte d’Ivoire, whose markets are more than six times smaller. The market is forecasted to grow from $485.4 million in 2023 to $649.6 million by 2028, reflecting a 6.0% CAGR. Nigeria presents significant opportunities for investment in local production. Meanwhile, other West African nations, though smaller in market size, are also seeing gradual increases in demand, creating additional prospects for industry players.
We provided strategies and recommendations that helped our client refine their market entry and sales efforts in the region.
What is your potential in Africa? If you have any questions, contact us at info@africon.de.
Read previous SOTMs (Slides of the month) here
Slide of the Month (SOTM) December. The majority of Egypt’s MedTech imports come from Germany
Slide of the Month (SOTM) October. Vitamins & minerals market size of selected countries in Africa
Slide of the Month (SOTM) September. Africa’s sweets and snack market is currently worth $50 billion
