ECOWAS: Needles, Catheters, Cannulae Market 2024

Needles, Catheters, Cannulae Exports

Exports in ECOWAS

In 2021, approx. X units of needles, catheters, cannulae were exported in ECOWAS; rising by 73% against 2020 figures. Over the period under review, exports, however, continue to indicate a noticeable decline. The growth pace was the most rapid in 2016 with an increase of 497% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, needles, catheters, cannulae exports amounted to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 88% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Senegal (X units), distantly followed by Burkina Faso (X units), Liberia (X units), Cote d'Ivoire (X units), Mali (X units) and Nigeria (X units) represented the key exporters of needles, catheters, cannulae, together creating 94% of total exports. Sierra Leone (X units) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of +36.7%), while the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 57% share of total exports. Sierra Leone, Cote d'Ivoire, Mali and Liberia lagged somewhat behind, together comprising a further 36%.

Sierra Leone, with a CAGR of +51.3%, saw the highest growth rate of 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

The export price in ECOWAS stood at $X per unit in 2021, declining by -39.4% against the previous year. Over the period under review, the export price, however, enjoyed a perceptible increase. The growth pace was the most rapid in 2018 when the export price increased by 443% against the previous year. The level of export peaked at $X per unit in 2020, and then shrank markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Liberia (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+25.2%), while the other leaders experienced more modest paces of growth.

Needles, Catheters, Cannulae Imports

Imports in ECOWAS

In 2021, after three years of growth, there was significant decline in supplies from abroad of needles, catheters, cannulae, when their volume decreased by -20.8% to X units. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 71% against the previous year. As a result, imports attained the peak of X units, and then dropped dramatically in the following year.

In value terms, needles, catheters, cannulae imports dropped dramatically to $X in 2021. Over the period under review, imports, however, showed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 39%. As a result, imports reached the peak of $X, and then reduced dramatically in the following year.

Imports by Country

Nigeria represented the key importing country with an import of about X units, which reached 51% of total imports. Ghana (X units) ranks second in terms of the total imports with a 17% share, followed by Cote d'Ivoire (10%) and Senegal (6%). The following importers - Burkina Faso (X units), Mali (X units) and Guinea (X units) - together made up 7.9% of total imports.

From 2012 to 2021, average annual rates of growth with regard to needles, catheters, cannulae imports into Nigeria stood at +17.2%. At the same time, Cote d'Ivoire (+22.3%), Senegal (+18.9%), Ghana (+8.1%), Mali (+6.2%), Guinea (+5.9%) and Burkina Faso (+3.2%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +22.3% from 2012-2021. While the share of Nigeria (+14 p.p.), Cote d'Ivoire (+5.2 p.p.) and Senegal (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Guinea (-1.7 p.p.), Mali (-2.1 p.p.), Burkina Faso (-3.8 p.p.) and Ghana (-8.5 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported needles, catheters, cannulae in ECOWAS, comprising 53% of total imports. The second position in the ranking was taken by Ghana ($X), with a 12% share of total imports. It was followed by Cote d'Ivoire, with a 6.5% share.

In Nigeria, needles, catheters, cannulae imports increased at an average annual rate of +8.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+1.5% per year) and Cote d'Ivoire (+9.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, dropping by -7.1% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2015 an increase of 17% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Mali ($X per unit), while Cote d'Ivoire ($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 (+4.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform