ECOWAS: Diagnostic Equipment Market 2025

Diagnostic Equipment Market Size in ECOWAS

In 2021, the ECOWAS diagnostic equipment market decreased by -28.1% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, saw a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Diagnostic Equipment Production in ECOWAS

In value terms, diagnostic equipment production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 52%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Diagnostic Equipment Exports

Exports in ECOWAS

Diagnostic equipment exports soared to X units in 2021, jumping by 87% on the previous year. In general, exports, however, saw a noticeable shrinkage. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, diagnostic equipment exports skyrocketed to $X in 2021. Overall, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Sierra Leone (X units) and Benin (X units) were the major exporters of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in ECOWAS, together finishing at approx. 53% of total exports. It was distantly followed by Cabo Verde (X units), Ghana (X units), Senegal (X units), Cote d'Ivoire (X units) and Mali (X units), together generating a 33% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Benin (with a CAGR of +33.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest diagnostic equipment supplying countries in ECOWAS were Sierra Leone ($X), Benin ($X) and Cabo Verde ($X), together accounting for 65% of total exports.

Benin, with a CAGR of +28.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, surging by 9.5% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +9.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, diagnostic equipment export price decreased by -10.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 54%. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Senegal (+17.9%), while the other leaders experienced more modest paces of growth.

Diagnostic Equipment Imports

Imports in ECOWAS

In 2021, supplies from abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus decreased by -35% to X units, falling for the second consecutive year after four years of growth. Overall, imports, however, showed a temperate expansion. The growth pace was the most rapid in 2018 when imports increased by 191%. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, diagnostic equipment imports totaled $X in 2021. In general, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 5,579%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the largest importer of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus in ECOWAS, with the volume of imports accounting for X units, which was near 58% of total imports in 2021. Senegal (X units) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (10%) and Cote d'Ivoire (4.6%). The following importers - Burkina Faso (X units), Mali (X units) and Guinea (X units) - together made up 9.1% of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus. At the same time, Guinea (+30.8%), Senegal (+16.9%), Mali (+10.3%) and Cote d'Ivoire (+8.5%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +30.8% from 2012-2021. Ghana and Burkina Faso experienced a relatively flat trend pattern. While the share of Senegal (+9.2 p.p.), Guinea (+1.9 p.p.), Cote d'Ivoire (+1.8 p.p.) and Mali (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-1.9 p.p.) and Nigeria (-12.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 66% of total imports.

In terms of the main importing countries, Senegal, with a CAGR of +25.6%, recorded the highest rates of growth with regard to the value of imports, 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 2021, picking up by 71% against the previous year. Overall, the import price showed a noticeable increase. The pace of growth was the most pronounced in 2019 an increase of 2,383% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (+20.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform