Nigeria Home Healthcare Market Analysis

Nigeria Home Healthcare Market Analysis


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Nigeria's home healthcare market was valued at $326 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. One of the main reasons propelling the growth of this market is the increasing prevalence of chronic disease and the aging population. The market is segmented by services and products. Some key players in this market are Crestcare Service, Bevis Home Health Care, Blue Torch Home care, and Greymate Care.

ID: IN10NGHS010 CATEGORY: Healthcare Services GEOGRAPHY: Nigeria AUTHOR: Nandini Shah

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Nigeria Home Healthcare Market Executive Summary

Nigeria's home healthcare market was valued at $326 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. Nigeria is one of the most densely populated countries in Africa, with around 218.5 million people, a 2.41% rise from 2021, and it is also the largest country in Africa and the sixth largest in the world. Home health care is one of the critical care service providers. Home health care is a sort of health care service that is delivered in the patient's own home. In certain circumstances, it comprises a wide range of health care services such as nursing care, physical therapy, occupational therapy, companionship, and housekeeping.

The Nigerian home healthcare market has been growing in recent years, driven by an aging population, increasing prevalence of chronic diseases, a growing awareness of the benefits of receiving healthcare services in the comfort of one's own home, and aging pollution However, the rise in older Nigerians are taking place against a backdrop of great poverty, unresolved development issues, socioeconomic inequality, the HIV/AIDS epidemic, and a decline in traditional care and support for older persons.

Market Dynamics

Market Growth Drivers

The prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer is also driving the growth of the home healthcare market in Nigeria. These diseases require long-term management and monitoring, making home healthcare an attractive option for patients. A study conducted in Nigeria by Abdul Raheem, Oladipo, and Amodu9 reported the presence of chronic illness in 64.9% of the Nigerian population. Nigeria, Africa's largest economy and most populous country, has the highest number of older people on the continent and the 19th highest globally, with the population of Nigerians aged 65 and older expected to nearly treble by 2050. Technological advancements have made healthcare devices portable, user-friendly, and more convenient for patients at home or traveling. The introduction of newer technologies in this market has greatly boosted the current communication flow between patients and healthcare providers, enabling better, faster, and more effective care. Developments in technology coupled with increasing demand are likely to drive market growth in Nigeria.

Market Restraints

The lack of skilled nursing personnel with a compassionate attitude is anticipated to slow the rate of expansion of the Nigerian home healthcare market. According to the British Medical Journal Global Health, which examined 47 African countries, Africa's health professional shortfall would reach 6.1 million by 2030. This is a 45 percent increase above the previous forecasts in 2013. According to the study, the region has a ratio of 1.55 health workers (physicians, nurses, and midwives) per 1000 people, which is lower than the WHO threshold density of 4.45 health workers per 1000 people required to provide essential health services and attain universal health coverage. Many areas in Nigeria lack the infrastructure necessary to provide home healthcare services, such as adequate transportation and communication systems at the same time Many home healthcare providers do not have access to the latest technologies and innovations in home healthcare, which can limit the range of services they can provide.

Competitive Landscape

Key Players

  • Crestcare Service
  • Bevis Home Health Care
  • Blue Torch Home care
  • Greymate Care
  • Care Listings Home Healthcare
  • iCare Home Health
  • Wellcare Home Medicals

Healthcare Policies and Regulatory Landscape

On August 6, 2019, Nigeria's Federal Ministry of Health (FMoH), in conjunction with the World Health Organization (WHO) and key stakeholders, unveiled the country's first National Multisectoral Action Plan (NNMSAP) for the Prevention and Control of Noncommunicable Diseases (NCD).

Home healthcare in Nigeria is regulated by several government agencies, including the Federal Ministry of Health and the National Agency for Food and Drug Administration and Control (NAFDAC). The policies and regulations that govern the home healthcare industry in Nigeria are designed to ensure the quality and safety of healthcare services provided in the home setting.

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

Home Healthcare Market Segmentation

By Device Type (Revenue, USD Billion):

Based on the Device Type the market is segmented into Testing, Screening, Monitoring Devices, Therapeutic Home Healthcare Devices, and Mobility Assist.

  • Testing, Screening, and Monitoring Device
  • Blood Glucose Monitors
  • Blood Glucose Monitors
  • Blood Pressure Monitors
  • Heart Rate Monitors
  • Temperature Monitors
  • Sleep Apnea Monitors
  • Coagulation Monitors
  • Ovulation and Pregnancy Test Kits
  • Pulse Oximeters
  • Home Hemoglobin A1C Test Kit
  • Therapeutic Home Healthcare Devices
  • Oxygen Delivery Systems
  • Nebulizers
  • Ventilators
  • Sleep Apnea Therapeutic Devices
  • Wound Care Products
  • IV Equipment
  • Dialysis Equipment
  • Insulin Delivery Devices
  • Inhalers
  • ?Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs)
  • Mobility Assist
  • Walkers and Rollators
  • Wheelchairs
  • Canes
  • Crutches
  • ?Mobility Scooters

By Service Type (Revenue, USD Billion):

  • Skilled Nursing Services
  • Rehabilitation Therapy Services
  • Hospice and Palliative Care Services
  • Unskilled Care Services
  • Respiratory Therapy Services
  • Infusion Therapy Services
  • Pregnancy Care Services?

By Indication Type (Revenue, USD Billion):

  • Cardiovascular Disorders & Hypertension
  • Diabetes
  • Respiratory Diseases
  • Pregnancy
  • Mobility Disorders
  • Hearing Disorders
  • Cancer
  • Wound Care
  • ?Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

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: 14 June 2023
Updated by: Ritu Baliya

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