Nigeria Connected Healthcare Market Analysis

Nigeria Connected Healthcare Market Analysis

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Nigeria's connected healthcare market is projected to grow from $59.72 Mn in 2022 to $469.49 Mn by 2030, registering a CAGR of 29.63% during the forecast period of 2022-30. The main factors driving the growth would be a large population, private sector investment, and government support. The market is segmented by type, function, and application. Some of the major players include Helium Health, CribMD, Medismarts, Philips Healthcare, Siemens Healthineers, and IBM.

ID: IN10NGHS004 CATEGORY: Healthcare Services GEOGRAPHY: Nigeria AUTHOR: Neha Davda

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Nigeria Connected Healthcare Market Executive Summary

Nigeria's connected healthcare market is projected to grow from $59.72 Mn in 2022 to $469.49 Mn by 2030, registering a CAGR of 29.63% during the forecast period of 2022-30. Nigeria's national health spending as a share of GDP in 2019 was 3.03% or $71 per person.

Nigeria's connected healthcare business is a quickly expanding industry that is revolutionizing how healthcare is provided and accessed in the nation. With connected healthcare, commonly referred to as telemedicine, patients are monitored, health information is exchanged, and services are provided remotely.

Some variables, including Nigeria's sizable population, are driving the market for connected healthcare in that country. Also, as healthcare professionals and patients look for strategies to lower the risk of infection and maintain access to healthcare services, the COVID-19 pandemic has hastened the deployment of connected healthcare technologies in Nigeria. In Nigeria, many businesses and organizations are making investments in the development of connected healthcare technology and services. Platforms for telemedicine are among them. They consist of digital health solutions, telemedicine platforms, and tools for remote patient monitoring. The Nigerian government has also taken action to encourage the deployment of connected healthcare, including the creation of a national eHealth policy, after seeing the potential of the system.

Nigeria Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The Nigeria-connected healthcare market is expected to be driven by factors such as:

  1. Large population- Nigeria has the largest population in Africa, with approximately 200 million people. Due to the size of the population, there is a high need for healthcare services that can be met by using connected healthcare technologies
  2. Private sector investment- In Nigeria, a number of private sectors businesses are investing in the creation of connected healthcare technology and services because they see the potential for market expansion. This investment has sparked the creation of cutting-edge products and services, like as telemedicine systems and gadgets for remote patient monitoring
  3. Government support- The Nigerian government has moved to encourage the development of linked healthcare after seeing its potential to enhance healthcare outcomes. The creation of the Nigerian Centre for Disease Control (NCDC), which has been crucial in the nation's response to the COVID-19 pandemic, and the development of a national eHealth policy are examples of this

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in Nigeria:

  1. Limited healthcare infrastructure- In many parts, particularly in rural and distant areas, Nigeria's healthcare infrastructure is inadequate. The implementation of connected healthcare services, which frequently call on cutting-edge infrastructure like high-speed internet and electronic health record systems, may be constrained as a result
  2. Limited access to devices- Despite the fact that mobile phones are commonly used in Nigeria, many people still lack access to smartphones and other connected gadgets. The reach of linked healthcare services may be constrained by this
  3. Low level of digital literacy- Although Nigerians are becoming more digitally literate, there are still those who are unaware of connected healthcare technologies and services. Due to this, demand for connected healthcare services may be constrained, especially among older or less technologically aware populations

Competitive Landscape

Key Players

  • Helium Health (NGA)- Helium Health is a healthcare technology firm based in Nigeria that offers electronic medical record (EMR) software and telemedicine services to healthcare practitioners
  • CribMD (NGA)- Patients in Nigeria can access virtual healthcare services via CribMD, a telemedicine platform. They provide services like ordering lab tests, refilling prescriptions, and video consultations
  • Medismarts (NGA)- EMR software and telemedicine services are offered by the Nigerian business Medismarts
  • Philips Healthcare- A leading provider of healthcare products, services, and solutions, Philips Healthcare serves clients throughout Nigeria
  • Siemens Healthineers- It is present in Malaysia through its subsidiary, Siemens Healthcare Sdn Bhd. Together with healthcare IT solutions, the company manufactures and distributes medical imaging and diagnostic equipment
  • IBM- IBM provides a range of healthcare solutions through its Watson Health platform, which gives healthcare providers cutting-edge analytics and decision-support capabilities

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

  • MHealth services
  • mHealth Devices
  • E- Prescription

By FunctionType (Revenue, USD Billion):

  • Remote patient monitoring
  • Clinical monitoring
  • Telemedicine
  • Others (Assisted Living)

By Application Type (Revenue, USD Billion):

  • Diagnosis and Treatment
  • Monitoring Application
  • Wellness and Prevention
  • Healthcare management
  • Others

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

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:



Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 22 December 2023
Updated by: Riya Doshi

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