BMI View : Ghana represents a comparatively small medical d evice market of just under USD 6 0mn. Per capita spending is low at USD 2.0 indicating considerable potential for expansion. The market will achieve a double digit CAGR growth in local currency terms during the forecast period but due to a weakening currency, this will translate to a negligible CAGR i n US dollar terms to 2019.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We forecast the market will register one of the world's lowest CAGRs in US dollar terms over the 2014-2019 period, at just 0.1%. This low dollar rate reflects a weak cedi at the start of the forecast period.
We maintain that the market will remain import reliant. Imports increased by 36.7% to USD21.8mn in the three months to December 2015. This reverses the negative performance in Q315, after a sharp depreciation of the GHS. Imports increased by over 60% in Q115 and 25.8% in Q215, encouraged by the approval of an IMF credit facility and GPD growth. Over the 12 months to December 2015, imports increased by 24.8% to USD67.5mn.
We believe that Ghana's very small export trade will remain prone to volatility. Exports fell by 96.4% in the three months to December 2015, to USD0.01mn, and decreased by 58.1% over the 12 month period to December 2015, to USD0.4mn. Almost all exports were in the form of consumables.
The New Dodowa hospital, a Ministry of Health and NMS Infrastructure Ltd investment, is ready for commissioning. The project forms part of a USD175mn investment to deliver six new district hospitals to raise the standards of healthcare at the regional and district levels throughout the country. The new district hospital will be replicated in five districts in the country; namely in Abertifi, Fomena, Sekondi, Kumewu and Garu-Tempane.
The Ghana Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Ghana provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Ghana Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Ghana, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Ghana.
- Target Business Opportunities in the Ghana Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Ghana.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.