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Strategic Analysis of Medical Imaging Device Industry of Ghana and NigeriaPublished by: Frost & Sullivan Published: Mar. 12, 2009 - 99 Pages Table of Contents
AbstractThis Frost & Sullivan research service titled Strategic Analysis of Medical Imaging Device Industries of Ghana and Nigeria provides an in-depth examination of growth forecasts, competitor analysis and market dynamics. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: obstetrics and gynaecology, radiology and cardiology. The technologies covered include x-ray, computed tomography and ultrasound. Market Overview Digitisation Offers Sizeable Potential for West African Imaging Markets Growth in the medical imaging markets in West Africa has traditionally been restricted by the high cost of equipment. This, however, has changed in recent years with governments, in particular, increasingly investing in the revitalisation of outdated hospital equipment. The private sector has also experienced remarkable growth in the past year and will gain in importance in the medium-to-long term. “Growth in the imaging industry in key West African countries is expected to be driven by technology advancements,” states the analyst of this research. “An increase in government investment in the upgrade of hospital equipment will also support market development.” The medical imaging industry has grown considerably in recent years. It has been spurred by the rising demand for newer equipment, especially in the public sector. Most of the equipment in hospitals in Nigeria and Ghana are outdated and not functional. Governments are, therefore, embarking on equipment replacement programmes to improve healthcare infrastructure. The demand for new technology is set to promote growth over the next five years, as hospital funding increases. Digitisation, in particular, is already leading to greater uptake of newer digital technology. “Hospitals are increasingly converting from analogue equipment to digital, which offers benefits of better image quality and more efficient management of patient records,” explains the analyst of this research. “Rising uptake of these technologies is poised to push the imaging market in the region.” High Costs Pose Restraint to Uptake Major challenges, however, remain in the form of high cost of imaging devices and funding that still falls short of requirements. Challenges for new equipment suppliers emanate from increased competition from refurbished equipment alternatives as well as cheaper, low quality brands from Asia. West Africa is characterised by low purchasing power. Therefore, price is invariably the most important purchasing criteria. Refurbished equipment and low-cost imports, thus offer cheaper alternatives in these price-sensitive markets. “Suppliers can offer improved servicing components to their total offering,” advises the analyst. “Refurbished equipment and cheaper imports are prone to breakdowns, resulting in customer dissatisfaction. Equipment suppliers can, therefore, take advantage of this and offer their products with technical support and maintenance contracts.” Market Sectors Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research: Get Full Details About This Report >> |
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