ECOWAS: Dental Instruments Market 2024

Dental Instruments Market Size in ECOWAS

In 2021, after three years of growth, there was significant decline in the ECOWAS dental instruments market, when its value decreased by -10.8% to $X. The total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.8% against 2017 indices. Over the period under review, the market attained the peak level at $X in 2020, and then fell in the following year.

Dental Instruments Production in ECOWAS

In value terms, dental instruments production dropped to $X in 2021 estimated in export price. The total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +36.4% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33%. The level of production peaked at $X in 2020, and then declined in the following year.

Dental Instruments Exports

Exports in ECOWAS

In 2021, overseas shipments of instruments for dental sciences decreased by -36.2% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, showed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 1,376%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, dental instruments exports soared to $X in 2021. Overall, exports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 357%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Ghana (X units) represented the major exporter of instruments for dental sciences, generating 51% of total exports. Cote d'Ivoire (X units) took the second position in the ranking, followed by Senegal (X units) and Sierra Leone (X units). All these countries together took near 44% share of total exports. Nigeria (X units) took a minor share of total exports.

Ghana was also the fastest-growing in terms of the instruments for dental sciences exports, with a CAGR of +57.5% from 2012 to 2021. At the same time, Senegal (+25.7%), Sierra Leone (+12.1%) and Cote d'Ivoire (+5.7%) displayed positive paces of growth. By contrast, Nigeria (-14.7%) illustrated a downward trend over the same period. Ghana (+48 p.p.) and Senegal (+9.2 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Nigeria saw its share reduced by -19.8% and -34.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) remains the largest dental instruments supplier in ECOWAS, comprising 82% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 5.5% share of total exports. It was followed by Cote d'Ivoire, with a 4.8% share.

In Ghana, dental instruments exports expanded at an average annual rate of +92.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (+21.7% per year) and Cote d'Ivoire (-0.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, with an increase of 172% against the previous year. Over the period under review, the export price showed a moderate expansion. The pace of growth was the most pronounced in 2018 when the export price increased by 255%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+22.0%), while the other leaders experienced more modest paces of growth.

Dental Instruments Imports

Imports in ECOWAS

In 2021, overseas purchases of instruments for dental sciences decreased by -35.7% to X units for the first time since 2017, thus ending a three-year rising trend. Overall, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 148% against the previous year. Over the period under review, imports attained the maximum at X units in 2020, and then shrank rapidly in the following year.

In value terms, dental instruments imports plummeted to $X in 2021. In general, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 27%. Over the period under review, imports hit record highs at $X in 2020, and then declined sharply in the following year.

Imports by Country

In 2021, Nigeria (X units) was the key importer of instruments for dental sciences, creating 60% of total imports. Ghana (X units) ranks second in terms of the total imports with a 15% share, followed by Cote d'Ivoire (8%) and Senegal (6.4%). The following importers - Mali (X units), Togo (X units) and Cabo Verde (X units) - together made up 7.8% of total imports.

Imports into Nigeria increased at an average annual rate of +5.0% from 2012 to 2021. At the same time, Togo (+18.5%), Senegal (+14.6%), Cote d'Ivoire (+8.8%), Ghana (+8.3%), Mali (+6.5%) and Cabo Verde (+6.1%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +18.5% from 2012-2021. From 2012 to 2021, the share of Senegal, Ghana and Togo increased by +3.1, +2.2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 62% of total imports. Mali, Togo, Cote d'Ivoire and Cabo Verde lagged somewhat behind, together accounting for a further 31%.

Togo, with a CAGR of +26.8%, 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

In 2021, the import price in ECOWAS amounted to $X per unit, rising by 21% against the previous year. In general, the import price, however, saw a slight contraction. The pace of growth was the most pronounced in 2013 when the import price increased by 110% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mali ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform