Nigeria Connected Healthcare Market Report 2022 to 2030

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:

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
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
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:

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
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
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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 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

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.