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Nigeria Medical Devices Report Q1 2016

  • January 2016
  • -
  • Business Monitor International
  • -
  • 120 pages

BMI View: With its large population and underdeveloped healthcare sector, Nigeria offers substantial long-term potential for medical device companies. In the medium term, inadequate funding will remain a major constraint. Positive factors such as the National Health Bill and World Bank funding, will be offset by uncertain economic prospects and the slow uptake of universal health insurance. While the market will grow in local currency terms, we forecast a slight decline in the US dollar value over the next five years.

Latest Updates & Key Forecasts

-We expect the medical device market to register a 2014-2019 CAGR of 10.9% in local currency terms, outstripping the 2009-2014 CAGR of 5.3%. The outlook in US dollar terms is far less promising due to depreciation in the value of the naira. We forecast that the market will decline in US dollar terms over the 2014-2019 period, registering a negative 0.1% CAGR. Per capita spending will remain at less than USD1.0, indicating huge potential for expansion if adequate funding can be made available.

-We believe a combination of the November 2014 devaluation of the naira, ongoing currency weakness and lower federal health spending, will serve to dampen import growth for the remainder of 2015 and into 2016. In the 12 months to June 2015, imports fell by 5.0% to USD140.8mn.

Table Of Contents

Nigeria Medical Devices Report Q1 2016
BMI Industry View 7
BMI Industry View 7
Table: Projected Medical Device Market, 2014-2019 7
SWOT 9
Medical Device Market 9
Industry Forecast 11
Medical Device Market Forecast 11
Latest Updates 11
Structural Trends 11
Table: Detailed Medical Device Market By Product Area, 2009-2019 (USDmn) 12
Consumables Market Forecast 16
Latest Updates 16
Structural Trends 16
Bandages and Dressings 17
Suturing Materials 17
Syringes, Needles and Catheters 17
Other Consumables 17
Table: Consumables Market, 2009-2019 (USDmn) 18
Table: Consumables Market, 2010-2019 (USDmn, % Change) 19
Diagnostic Imaging Market Forecast 21
Latest Updates 21
Structural Trends 21
Electrodiagnostic Apparatus 21
Radiation Apparatus 22
Imaging Parts and Accessories 22
Table: Diagnostic Imaging Market, 2009-2019 (USDmn) 23
Table: Diagnostic Imaging Market, 2010-2019 (USDmn, % Change) 24
Dental Products Market Forecast 26
Latest Updates 26
Structural Trends 26
Capital Equipment 26
Instruments and Supplies 27
Table: Dental Products Market, 2009-2019 (USDmn) 27
Table: Dental Products Market, 2010-2019 (USDmn, % Change) 28
Orthopaedics and Prosthetics Market Forecast 30
Latest Updates 30
Structural Trends 30
Fixation Devices 30
Artificial Joints 30
Other Artificial Body Parts 31
Table: Orthopaedics and Prosthetics Market, 2009-2019 (USDmn) 31
Table: Orthopaedics and Prosthetics Market, 2010-2019 (USDmn, % Change) 32
Patient Aids Market Forecast 33
Latest Updates 33
Structural Trends 33
Portable Aids 33
Therapeutic Appliances 33
Table: Patient Aids Market, 2009-2019 (USDmn) 34
Table: Patient Aids Market, 2010-2019 (USDmn, % Change) 35
Other Medical Devices Market Forecast 37
Latest Updates 37
Structural Trends 37
Table: Other Medical Devices Market, 2009-2019 (USDmn) 38
Table: Other Medical Devices Market, 2010-2019 (USDmn, % Change) 39
Annual Medical Device Imports 41
Table: Medical Device Imports By Product Area, 2010-2014 (USD000s) 44
Table: Medical Device Imports By Product Area, 2010-2014 (Local Currency 000s) 45
Table: Top 20 Medical Device Suppliers, 2014 (USD000s) 47
Table: Detailed Medical Device Imports By Product Area, 2010-2014 (USD000s) 48
Table: Detailed Medical Device Import Trends By Product Area, 2014 51
Table: Detailed Leading Medical Device Suppliers By Product Area, 2014 (USD000s) 54
Monthly Medical Device Imports 58
Table: Monthly Medical Device Imports By Product Area, Year Ending June 2015 (USDmn) 58
Annual Medical Device Exports 60
Table: Medical Device Exports By Product Area, 2010-2014 (USD000s) 63
Table: Medical Device Exports By Product Area, 2010-2014 (Local Currency 000s) 64
Table: Leading Medical Device Destinations, 2014 (USD000s) 65
Table: Detailed Medical Device Exports By Product Area, 2010-2014 (USD000s) 66
Table: Detailed Medical Device Export Trends By Product Area, 2014 69
Table: Detailed Leading Medical Device Destinations By Product Area, 2014 (USD000s) 73
Table: Detailed Medical Device Trade Balance, 2010-2014 (USD000s) 76
Monthly Medical Device Exports 79
Table: Monthly Medical Device Exports By Product Area, Year Ending June 2015 (USDmn) 79
Industry Risk/Reward Index 80
Table: MEA Medical Device Risk/Reward Index, Q116 81
Market Overview 82
Medical Device Market Overview 82
Table: Medical Device Market, Key Ratios, 2014 82
Table: Medical Device Market By Product Area, 2014 83
Healthcare Overview 84
Health Status 84
Healthcare System 85
Healthcare Funding 88
Healthcare Resources 90
Healthcare Activity 91
Healthcare Personnel 91
Key Healthcare Data 92
Table: Key Healthcare Data, 2010-2015 92
Industry Trends And Developments 94
Industry Trends and Developments 94
Regulatory Development 102
Medical Device Regulations 102
Competent Authority 102
Product Registration 102
Procurement Policy 105
Competitive Landscape 107
Domestic Medical Device Production 107
National Medical Device Manufacturers 107
Multinational Market Activity 107
Table: Multinational Market Activity, 2015 107
Medical Device Market Access 109
Market Environment 109
Distribution 110
Trade Fair 110
Methodology 111
Forecast Methodology 111
Trade Code Classifications 112
Table: Rearranged HS Trade Codes 113
Risk/Reward Index Methodology 116
Table: Medical Devices Risk/Reward Index Indicators 117
Sources 119
Contact 120

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