With its large population and underdeveloped healthcare sector, Nigeria offers substantiallong-term potential for medical device companies. In the medium term, inadequate funding, intensified by apoor economic performance, will remain a major constraint. While the market will post double-digit growthin local currency terms, we forecast a small growth in US dollar terms over the next five years.
Latest Updates And Key Forecasts
We maintain our forecast that the market will expand by a 2015-2020 CAGR of 13.5% in local currencyterms, which should see it rise to NGN43.8bn in 2020. In US dollar terms, we maintain that the marketwill expand by a 2015-2020 CAGR of 2.7%, which should see it increase to USD134.7mn in 2020. Thelow US dollar CAGR reflects ongoing currency weakness.