ECOWAS: Orthopedic Prosthetics Market 2024

Orthopedic Prosthetics Market Size in ECOWAS

The ECOWAS orthopedic prosthetics market stood at $X in 2022, surging by 4.3% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.3% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Orthopedic Prosthetics Production in ECOWAS

In value terms, orthopedic prosthetics production expanded to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 40%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Orthopedic Prosthetics Exports

Exports in ECOWAS

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) exported in ECOWAS shrank sharply to X units, which is down by -72.3% compared with 2021 figures. Over the period under review, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 800%. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, orthopedic prosthetics exports shrank markedly to $X in 2022. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 181%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, resulting at X units, which was near 80% of total exports in 2022. Guinea (X units) took a 7.5% share (based on physical terms) of total exports, which put it in second place, followed by Niger (5.3%). The following exporters - Senegal (X units) and Sierra Leone (X units) - together made up 6.3% of total exports.

Exports from Nigeria increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, Sierra Leone (+20.8%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +20.8% from 2012-2022. By contrast, Senegal (-10.0%), Niger (-19.6%) and Guinea (-36.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Guinea and Sierra Leone increased by +36, +7.5 and +1.9 percentage points, respectively.

In value terms, the largest orthopedic prosthetics supplying countries in ECOWAS were Nigeria ($X), Niger ($X) and Senegal ($X), together comprising 84% of total exports. Sierra Leone and Guinea lagged somewhat behind, together accounting for a further 15%.

Sierra Leone, with a CAGR of +41.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, jumping by 37% against the previous year. Overall, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 an increase of 389%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Niger ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+76.2%), while the other leaders experienced more modest paces of growth.

Orthopedic Prosthetics Imports

Imports in ECOWAS

In 2022, the amount of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imported in ECOWAS surged to X units, increasing by 192% on the year before. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 195% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, orthopedic prosthetics imports shrank to $X in 2022. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 215%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced in the following year.

Imports by Country

Niger represented the main importer of artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) in ECOWAS, with the volume of imports accounting for X units, which was approx. 66% of total imports in 2022. Senegal (X units) ranks second in terms of the total imports with a 15% share, followed by Nigeria (10%). Cote d'Ivoire (X units) and Togo (X units) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the artificial parts of the body (excl. artificial teeth and dental fittings and artificial joints) imports, with a CAGR of +86.7% from 2012 to 2022. At the same time, Nigeria (+35.6%), Togo (+30.6%), Cote d'Ivoire (+10.7%) and Senegal (+8.4%) displayed positive paces of growth. Niger (+65 p.p.), Nigeria (+6 p.p.) and Togo (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Senegal saw its share reduced by -7.7% and -41.1% from 2012 to 2022, respectively.

In value terms, Senegal ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. Niger and Togo lagged somewhat behind, together comprising a further 6.1%.

Togo, with a CAGR of +50.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, with a decrease of -70.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 when the import price increased by 74% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+14.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform