Starting a new company is almost always really tough. Fortunately, there are three exciting trends that make right now a great time to innovate in Nigerian healthcare.

Increasing private investment in healthcare

Nigeria, like many other African countries, is currently going through a tough time economically. The ability of the government to fund its various healthcare priorities is reducing due to economic headwinds. But with these gaps come great opportunities for private sector innovation and investment in healthcare. In recent years, there has been an increase in private sector investment to fill critical healthcare gaps, which is great news for founders working in the space!

Many new opportunities due to changing healthcare needs of the population

Historically, healthcare in Nigeria has focused on treating infectious diseases and reducing maternal and child mortality. With the rise of lifestyle diseases, like cancers, heart disease, and diabetes, healthcare needs are quickly evolving beyond what the existing healthcare systems were built for. At the same time, the population of the continent is exploding, and existing healthcare providers simply cannot keep pace. As a result, there is a massive opportunity to build modern, high-impact healthcare products and services for a growing population of Africans with changing health needs. 

Willing government partners

Back in the day, healthcare was considered to be solidly and completely within the government’s realm. However, given the current state of government coffers, both the federal and state governments are increasingly open to partnering with NGOs and private health organizations. This is great news for new companies in the sector as working with government partners can help you get around some of the challenges of fragmentation in the sector and reach more patients faster.