Nigeria ENT Devices Market Analysis

Nigeria ENT Devices Market Analysis


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Nigeria's ENT Devices Market is projected to grow from $20 Mn in 2022 to $40 Mn by 2030, registering a CAGR of 6.8% during the forecast period of 2022-30. The rising prevalence of ENT disorders, such as hearing loss, sinusitis, and tonsillitis, is a major driver of the ENT device market. The market is highly competitive, with a large number of players operating in the space, ranging from small, specialized companies to large multinational corporations. The domestic key players in the Nigeria ENT devices market include Medlog Healthcare Solutions, Healthplus Limited, and Nemaura Medical.

ID: IN10NGMD009 CATEGORY: Medical Devices GEOGRAPHY: Nigeria AUTHOR: Dr. Vishwa Modhia

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Nigeria ENT Devices Market Analysis Summary

Nigeria's ENT Devices Market is projected to grow from $20 Mn in 2022 to $40 Mn by 2030, registering a CAGR of 6.8% during the forecast period of 2022-30.

Nigeria is a lower middle-income, developing country located in West Africa with a coast on the Gulf of Guinea and the Atlantic Ocean. Nigeria is the most populous country in Africa, with a population of over 200 Mn people. Nigeria accounts for over 20% of Africa's total population, making it a sizable market. In Nigeria, devices and IVDs are divided into four (4) categories. Although the market is expected to benefit from an improved economic outlook and remains almost entirely reliant on imports, chronic underfunding, and the chaotic management of public healthcare services, exacerbated by the insurgency in the northeast region, will continue to limit market growth in the medium term. Nigeria's government spent 3.4% of its GDP on healthcare in 2020.

Nigeria ENT Devices Market

Market Dynamics

Market Growth Drivers Analysis

Nigeria is a promising market for medical equipment, and it is one of Sub-Saharan Africa's fastest-expanding markets. The creation of new and sophisticated ENT devices is propelling the Nigerian market forward. These gadgets are getting less sophisticated, more efficient, and less expensive, allowing them to become more widely available. Over 70% of Nigeria's healthcare services are provided by the public sector, through the Ministry of Health (MOH) and other government-funded organisations. These aspects could boost Nigeria's ENT Devices Market.

Market restrains.

In comparison to the population's needs, the Nigerian government's spending on healthcare is modest. One of the most significant challenges to ENT devices in Nigeria is a lack of access to healthcare, particularly in rural regions. There may be a shortage of demand due to an insufficient workforce specialising in ENT problems. These factors may deter new entrants into the Nigeria ENT Devices Market.

Competitive Landscape

Key Players

  • Nemaura Medical: This is a global medical technology company that offers diagnostic devices for the diagnosis and management of various medical conditions, including ENT disorders
  • Healthplus Limited: This is a healthcare company that offers a range of medical devices and supplies, including ENT devices. They have several branches across Nigeria
  • Medlock Healthcare Solutions: This is a healthcare company that offers a range of medical devices and supplies, including ENT devices. They have a branch in Lagos, Nigeria
  • Neimeth International Pharmaceuticals Plc: This is a pharmaceutical company that also offers a range of medical devices, including ENT devices
  • Kochez Medical Limited

Healthcare Policies and Reimbursement Scenarios

National Agency for Food and Drug Administration and Control (NAFDAC) is the key drug Regulatory Authority for regulating medical devices in Nigeria. In Nigeria, medical devices, including ENT devices, are regulated by the National Agency for Food and Drug Administration and Control (NAFDAC). In the public sector, the reimbursement of ENT devices is determined by the policies of the National Health Insurance Scheme (NHIS), which is a government agency that provides social health insurance coverage to Nigerians.

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
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 Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

ENT Device Market Segmentation

The ENT Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

  • Diagnostic Devices
  • Surgical Devices
  • Hearing Aids
  • Hearing Implants
  • Co2 Lasers
  • Image-Guided Surgery Systems

By Diagnostic Devices (Revenue, USD Billion):

  • Endocsopes
  • Hearing Screening Devices

By Surgical Device (Revenue, USD Billion):

  • Powered Surgical Instruments
  • Radiofrequency (RF) Handpieces
  • Handheld Instruments
  • Balloon Sinus Dilation Devices
  • ENT Supplies
  • Ear Tubes
  • Voice Prosthesis Devices

By End Users (Revenue, USD Billion):

  • Hospitals and Ambulatory Settings
  • Home Use
  • ENT Clinics

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”.

 

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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.

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Stage III: Interpretation and Presentation

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  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Last updated on: 22 December 2023
Updated by: Jay Dalwadi

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