Ghana Medical Devices Report

Published 22 June 2015

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Ghana Medical Devices Report

BMI Industry View : Ghana represents a comparatively small medical d evice market of just under USD 6 0mn. Per capita spending is low at USD 2.3 indicating considerable potential for expansion. Primarily supplied by imports, the market has enjoyed one of the world's highest CAGRs over the 2008-2013 period, but a sharp contraction in the market in 2013 and 2014 will result in slower growth being registered over the 2013-2018 period .

Headline Industry Forecasts

  • In 2013, the medical device market was estimated at USD59.6mn, equal to USD2.3 per capita. The market is projected to grow to USD69.9mn by 2018, at a CAGR of 3.2%. Growth is anticipated across all sectors of the market, led by a 15.4% CAGR in the orthopaedics & prosthetics product area. In local currency terms, the market is expected to expand by a solid 19.0% CAGR during the 2013-2018 period.

  • Imports fell by 33.8% to USD64.6mn in 2013. Despite this decline, a US dollar CAGR of 23.1% was registered over the 2008-2013 period. The running annual import total reached USD54.1mn in the 12 months to December 2014, representing a y-o-y decrease of 13.4%.

  • Exports are minimal, totalling just USD277,000 in 2013. The running annual export total reached USD565,000 in the 12 months to December 2014, representing y-o-y growth of 106.2%.

  • Ghanaian medical device production is negligible, accounting for less than 5% of the market.

Headline Industry Risk/Reward Index

  • Ghana is one of the least attractive markets in the Middle East and Africa (MEA) for commercialising a medical device, according to BMI's Medical Device Risk/Reward Index (RRI). The country's overall score for Q315 is 30.8 out of 100, ranking it last amongst the 14 key markets covered in the MEA region. This score has fallen from 41.7 since Q214, as a result of a decline in imports during 2014 combined with the rapid depreciation of the cedi.

Headline Healthcare Overview

  • Ghana's population reached an estimated 26.4mn in 2014, having...

Table of Contents

BMI Industry View
7
SWOT
10
Medical Device Market
10
Politics
11
Economic
13
Operational Risk
15
Industry Forecast
17
Medical Device Market Forecast
17
2008-2013 Performance
17
2013-2018 Performance
18
Table: Projected Medical Device Market, 2013-2018
19
Table: Detailed Medical Device Market By Product Area, 2008-2018 (USDmn)
20
Consumables Market Forecast
24
Table: Consumables Market, 2008-2018 (USDmn)
24
Table: Consumables Market, 2009-2018 (USDmn, % Change)
25
Diagnostic Imaging Market Forecast
27
Table: Diagnostic Imaging Market, 2008-2018 (USDmn)
27
Table: Diagnostic Imaging Market, 2009-2018 (USDmn, % Change)
28
Dental Products Market Forecast
30
Table: Dental Products Market, 2008-2018 (USDmn)
30
Table: Dental Products Market, 2009-2018 (USDmn, % Change)
31
Orthopaedics & Prosthetics Market Forecast
33
Table: Orthopaedics & Prosthetics Market, 2008-2018 (USDmn)
33
Table: Orthopaedics & Prosthetics Market, 2009-2018 (USDmn, % Change)
34
Patient Aids Market Forecast
35
Table: Patient Aids Market, 2008-2018 (USDmn)
35
Table: Patient Aids Market, 2009-2018 (USDmn, % Change)
36
Other Medical Devices Market Forecast
38
Table: Other Medical Devices Market, 2008-2018 (USDmn)
38
Table: Other Medical Devices Market, 2009-2018 (USDmn, % Change)
39
Annual Medical Device Imports
41
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s)
44
Table: Medical Device Imports By Product Area, 2009-2013 (USD000s, % Change)
45
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s)
47
Table: Medical Device Imports By Product Area, 2009-2013 (Local Currency 000s, % Change)
48
Table: Top 20 Medical Device Suppliers, 2013 (USD000s)
50
Table: Detailed Medical Device Imports By Product Area, 2009-2013 (USD000s)
51
Table: Detailed Medical Device Import Trends By Product Area, 2013
54
Table: Detailed Leading Medical Device Suppliers By Product Area, 2013 (USD000s)
57
Monthly Medical Device Imports
60
Table: Monthly Medical Device Imports By Product Area, March 2012 - September 2014 (USDmn)
60
Annual Medical Device Exports
62
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s)
64
Table: Medical Device Exports By Product Area, 2009-2013 (USD000s, % Change)
65
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s)
66
Table: Medical Device Exports By Product Area, 2009-2013 (Local Currency 000s, % Change)
67
Table: Detailed Medical Device Exports By Product Area, 2009-2013 (USD000s)
69
Table: Detailed Medical Device Export Trends By Product Area, 2013
72
Table: Detailed Medical Device Trade Balance, 2009-2013 (USD000s)
75
Monthly Medical Device Exports
79
Table: Monthly Medical Device Exports By Product Area, March 2012 - September 2014 (USDmn)
79
Macroeconomic Forecasts
81
Economic Analysis
81
Table: Economic Activity (Ghana 2010-2019)
86
Industry Risk/Reward Index
87
Table: MEA Medical Device Risk/Reward Index, Q215
88
Market Overview
89
Medical Device Market Overview
89
Table: Medical Device Market, Key Ratios, 2013
89
Table: Medical Device Market By Product Area, 2013
90
Healthcare Overview
91
Healthcare Status
91
Healthcare System
91
Healthcare Funding
97
Healthcare Resources
99
Healthcare Activity
100
Healthcare Personnel
100
Key Healthcare Data
101
Table: Key Healthcare Data, 2009-2014
101
Industry Trends & Developments
103
Regulatory Development
107
Medical Device Regulations
107
Competent Authority
107
Regulations
109
Competitive Landscape
111
Domestic Medical Device Production
111
Multinational Market Activity
111
Table: Multinational Market Activity, 2015
111
National Medical Device Manufacturers
113
Medical Device Market Access
113
Market Environment
113
Imports Procedures
113
Trade Fair
114
Methodology
115
Forecast Methodology
115
Trade Code Classifications
116
Table: Used HS Trade Codes
116
Table: Rearranged HS Trade Codes
118
Risk/Reward Index Methodology
121
Table: Medical Devices Risk/Reward Index Indicators
122
Sources
124
Contact
125

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.

Key Benefits

  • 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.

Coverage

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

SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.

Industry Forecasts

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.

Macroeconomic Forecasts

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.

Market Overview

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.

Regulatory developments

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.

Competitive Landscape

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.

Methodology

Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc