Nigeria Biomaterials in Healthcare Market Analysis

Nigeria Biomaterials in Healthcare Market Analysis

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The Nigeria Biomaterials Healthcare Market is expected to witness growth from $141 Mn in 2022 to $407 Mn in 2030 with a CAGR of 14.20% for the forecasted year 2022-2030. Nigeria has a high prevalence of long-term health issues that call for the use of biomaterials for control and treatment, including coronary artery disease, and carcinoma. The market is segmented by type and by application. Some key players in this market include: Glaxosmithkline Nigeria, ISN Products Nigeria, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10NGMD003 CATEGORY: Medical Devices GEOGRAPHY: Nigeria AUTHOR: Jigyasu Bhandari

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Nigeria Biomaterials in Healthcare Market Executive Analysis

The Nigeria Biomaterials Healthcare Market size is at around $141 Mn in 2022 and is projected to reach $407 Mn in 2030, exhibiting a CAGR of 14.20% during the forecast period. Public healthcare costs just 3.75% of Nigeria's $495 Bn GDP. Nigeria's present population of 206 Mn is expected to nearly double by 2050. The Nigerian government has made state credit facilities available to healthcare service providers, pharmaceutical companies, and product manufacturers totaling $254.6 Mn. The average family pays for 72% of its health care expenses out of pocket, which is higher than the sub-Saharan average of 35%. Similarly, only 5% of hospital costs are covered by insurance.

Biomaterials are contaminants that are used in tissue engineering, implants, and medical devices to substitute or fix damaged human bodily tissues. They have numerous uses in Nigerian healthcare and are a rapidly expanding field. Implants that substitute damaged or absent body parts, such as pacemakers, dental implants, or hip or knee joints, are made from biomaterials. In individuals with injuries or degenerative diseases, biomaterials can be used to make scaffolds or matrices that promote the growth of new tissues, such as bone or cartilage. Drug delivery systems that release medication at a controlled rate and give targeted treatment to particular body regions can be made using biomaterials.

Dressings and other wound care items can be made from biomaterials to hasten healing and ward off infection.  Biomaterials are made to be inert with the body's tissues, which lowers the possibility of rejection and speeds up recovery. Biomaterials are made to last a long time and are therefore less frequently replaced. Biomaterials offer individualized treatment choices because they can be tailored to each patient's unique needs. By encouraging quicker healing and lowering the chance of complications, biomaterials can shorten the length of the rehabilitation process. By offering treatments for diseases that were previously incurable, biomaterials can help people live better lives.

nigeria biomaterials in healthcare market

Market Dynamics

Market Growth Drivers

Nigeria has a high prevalence of long-term health issues that call for the use of biomaterials for control and treatment, including coronary artery disease, and carcinoma. A growing number of patients are traveling for medical treatment, and Nigeria has become a well-liked location. The demand for biomaterials and other medical devices in the Nigeria is anticipated to increase as a result of this development. Nigeria's healthcare spending is rising as a result of the country's expanding population and rising desire for biomaterials. The demand for biomaterials is anticipated to rise alongside the expansion of the healthcare industry.  The development of new products that are more efficient and have fewer side effects is now feasible thanks to advancements in biomaterials technology, which is increasing demand for these materials.

Market Restraints

Nigeria presently has a limited capacity for domestic biomaterial production, which may drive up costs and restrict the supply of these materials. Nigeria imports the majority of the biomaterials it uses, which can result in expensive costs because of tariffs, customs penalties, and other charges. In Nigeria, financing for biomaterials research and development is scarce, which may constrain the creation of new goods and impede the market's expansion. The recent economic unrest in Nigeria may have an effect on the healthcare industry and reduce the market for biomaterials.

Competitive Landscape

Key Players

  • Glaxosmithkline Nigeria (NG)
  • ISN Products Nigeria (NG)
  • Johnson and Johnson
  • Medtronic
  • Evonik Industries

Recent Notable Deals

2022: A Memorandum of Understanding (MoU) was signed by the global pharmaceutical company Hikma Pharmaceuticals and the Nigerian pharmaceutical company Biofem Pharmaceuticals Limited to produce and sell a variety of biomaterials and other healthcare products in Nigeria.

Healthcare Policies and Regulatory Landscape

The National Agency for Food and Drug Administration and Control (NAFDAC) is in charge of regulating biomaterials in Nigeria. To guarantee that all medical devices, including biomaterials, satisfy safety and quality standards before they can be imported or distributed in Nigeria, NAFDAC is in charge of registering and regulating them. The National Strategic Health Development Plan (NSHDP) is a long-term strategy that aims to enhance healthcare in Nigeria by creating a system that is comprehensive and capable of meeting all population healthcare requirements, including those that demand for biomaterials. In order to guarantee that medical devices, including biomaterials, satisfy safety and quality standards before they can be imported or distributed in Nigeria, the Nigerian government passed new regulations in 2019. 

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Nigeria market in 2019. The growing geriatric population Nigerialy is expected to drive growth for this segment.

  • Metallic Biomaterials
    • Stainless Steel
    • Titanium & Titanium Alloys
    • Cobalt-Chrome Alloys
    • Gold
    • Silver
    • Magnesium
  • Polymeric Biomaterials
    • Polymethylmethacrylate
    • Polyethylene
    • Polyester
    • Silicone Rubber
    • Nylon
    • Polyetheretherketone
    • Other Polymeric Biomaterials
  • Ceramics
    • Calcium Phosphate
    • Zirconia
    • Aluminum Oxide
    • Calcium Sulfate
    • Carbon
    • Glass
  • Natural Biomaterials
    • Hyaluronic Acid
    • Collagen
    • Gelatin
    • Fibrin
    • Cellulose
    • Chitin
    • Alginates
    • Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

  • Cardiovascular
    • Catheters
    • Stents
    • Implantable Cardiac Defibrillators
    • Pacemakers
    • Sensors
    • Heart Valves
    • Vascular Grafts
    • Guidewires
    • Others
  • Orthopedic
    • Joint Replacement
      • Knee Replacement
      • Hip Replacement
      • Shoulder Replacement
      • Others
    • Viscosupplementation
    • Bioresorbable Tissue Fixation
    • Spine?
      • Spinal Fusion Surgeries
      • Minimally Invasive Fusion Surgeries
      • Motion Preservation & Dynamic Stabilization Surgeries
        • Pedicle-Based Rod Systems
        • Interspinous Spacers
        • Artificial Discs
    • Fracture Fixation Devices
      • Bone Plates
      • Screws
      • Pins
      • Rods
      • Wires
    • Synthetics Bone Grafts
  • Ophthalmology
    • Contact Lenses
      • Intraocular Lenses
      • Functional Replacement of Ocular Tissues
      • Synthetic Corneas
      • Others
  • Dental
    • Dental Implants
    • Dental Bone Grafts & Substitutes
    • Dental Membranes
    • Tissue Regeneration
  • Plastic Surgery
    • Soft-Tissue Fillers
    • Craniofacial Surgery
  • Wound Healing
    • Wound Closure Devices
      • Sutures
      • Staples
    • Surgical Hemostats
    • Internal Tissue Sealants
    • Adhesion Barriers
    • Hernia Meshes
  • Tissue Engineering
    • Scaffolds for Regenerative Medicine
    • Nanomaterials for Biosensing
    • Tailoring of Inorganic Nanoparticles
  • Neurological/Central Nervous System Applications
    • Shunting Systems
    • Cortical Neural Prosthetics
    • Hydrogel Scaffolds for CNS Repair
    • Neural Stem Cell Encapsulation
  • Other Applications
    • Drug Delivery Systems
    • Gastrointestinal Applications
    • Bariatric Surgery
    • Urinary Applications

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Last updated on: 14 June 2024
Updated by: Jay Dalwadi

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