BMI View : Ghana remains a small medical device market which will record double- digit growth in local currency terms and high single-digit growth in US dollar terms. An improved economic outlook for the coming years will benefit the market; h owever, very low healthcare spending will continue to restrict the market size in comparison to other markets in the SSA region.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We maintain our forecast that the market will expand by a 2015-2020 CAGR of 13.7% in local currency terms, which should see it rise to GHS426.3mn in 2020. In US dollar terms, we have revised upwards our forecasts and now project that the market will expand by a 2015-2020 CAGR of 9.2%, which should see it increase to USD92.1mn in 2020.
With the economy forecast to outperform and currency depreciation set to be less severe in 2017, we expect import performance to improve in US dollar terms. The latest monthly mirror trade data reveal that imports increased by 106.0% y-o-y to USD20.8mn in the three months to May 2016, and by 2.9% to USD67.0mn over the 12 months to May 2016.
We expect low and volatile exports. The latest monthly mirror trade data reveal that exports fell by 51.4% y-o-y in the three months to May 2016, to USD0.1mn. Exports decreased by 72.5% in the 12 months to May 2016, to USD0.3mn. Most of the exports were in the form of consumables.
The Department of Chemical Pathology of the University of Cape Coast has developed a breast cancer detection device for women in Sub-Saharan Africa. The device, known as ''Breast Eye'', is said to be able to detect suspicious breast lumps in women and give accurate results for screening. We note that domestic inventions will continue to grow in sophistication, driven by a rise in non-communicable diseases.
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.