Assessing the Commercialization of Herbal Medicines Research and Development outputs in Nigeria

The commercialization of herbal medicine R&D outputs in Nigeria has not been widely studied. Hence this study examined the extent, evaluated the constraints and factors influencing herbal medicine commercialization. This is with a view to formulating strategies to enhance their commercialization.

Opinion of 100 herbal medicine scientists in 13 universities, 100 herbal medicine scientists in 3 research institutes, 125 scientists in 50 herbal medicine manufacturing pharmaceutical firms in Nigeria were sort in order to determine the extent of herbal medicines commercialization, constraints in commercializing them as well as factors influencing their commercialization. This was done through the instrumentality of questionnaire backed with oral personal interview. Data were analyzed using descriptive and inferential statistics.

Results from the study revealed that total herbal medicine commercialized was 1010. Herbal medicine scientists rated major constraints in commercializing herbal medicine on a 5-point Likert Scale as inadequate funding of R&D (4.73), inconsistent government policies on funds allocation for research (4.68), lack of interest for local R&D results by the industry (3.91), poor industry academic linkage (3.82) and lack of adequate infrastructural facilities such as electricity, building (3.70). Lack of adequate support for SME's (3.62) and apathy of financial institutions such as banks to invest in R&D activities (3.60) There were significant correlations between herbal medicine commercialization and market (Y₁), technology push (Y₂), availability of markets (Y₃), availability of inputs (Y₄) and strategy adopted by the organization (Y₉). Regression analysis revealed that market pull β1 (2.077), presence of customers β3 (3.618), availability of inputs β4 (4.061), commitment of developers β8 (3.678) and β9 (4.491),strategy adopted by the organizations contributed significantly to the commercialization process at probability levels of 5% and 10% respectively. Strategies for improving commercialization of herbal medicines were increased capacity building (68.75%), adequate R&D funding (75%), improved R&D infrastructure (70%), improved linkage between the academia and the industry (65%) among others.

The study concluded that the commercialization of herbal medicines in Nigeria is low, in spite of the large number of herbal medicines already developed by various research bodies. Therefore, the suggested that the economic and institutional constraints hampering herbal medicine commercialization process must be tackled by the government. This could be done by creating a salubrious environment that would guarantee industrial peace and maintain consistent economic and industrial policy.