ECOWAS: Orthopaedic Appliances Market 2024

Orthopaedic Appliances Market Size in ECOWAS

The ECOWAS orthopaedic appliances market declined to $X in 2022, which is down by -5.6% against the previous year. Overall, consumption, however, enjoyed a resilient increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Orthopaedic Appliances Production in ECOWAS

In value terms, orthopaedic appliances production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a prominent increase. The growth pace was the most rapid in 2014 when the production volume increased by 61%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Orthopaedic Appliances Exports

Exports in ECOWAS

Orthopaedic appliances exports soared to X tons in 2022, picking up by 171% compared with 2021 figures. In general, exports continue to indicate a temperate expansion. The growth pace was the most rapid in 2017 with an increase of 202%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, orthopaedic appliances exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 96% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo was the largest exporter of orthopaedic appliances and splints in ECOWAS, with the volume of exports finishing at X kg, which was near 50% of total exports in 2022. It was distantly followed by Niger (X kg) and Sierra Leone (X kg), together generating a 41% share of total exports. The following exporters - Ghana (X kg), Nigeria (X kg) and Mali (X kg) - each recorded a 6.6% share of total exports.

Exports from Togo increased at an average annual rate of +22.2% from 2012 to 2022. At the same time, Mali (+38.9%), Sierra Leone (+25.1%) and Niger (+20.8%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +38.9% from 2012-2022. By contrast, Ghana (-9.5%) and Nigeria (-10.4%) illustrated a downward trend over the same period. While the share of Togo (+41 p.p.), Sierra Leone (+20 p.p.), Niger (+17 p.p.) and Mali (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (-5.6 p.p.) and Nigeria (-6.5 p.p.) displayed negative dynamics.

In value terms, the largest orthopaedic appliances supplying countries in ECOWAS were Togo ($X), Sierra Leone ($X) and Nigeria ($X), together comprising 77% of total exports. Niger, Ghana and Mali lagged somewhat behind, together comprising a further 9.6%.

In terms of the main exporting countries, Mali, with a CAGR of +76.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by -33.5% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by 59% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Nigeria ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+27.0%), while the other leaders experienced more modest paces of growth.

Orthopaedic Appliances Imports

Imports in ECOWAS

In 2022, purchases abroad of orthopaedic appliances and splints decreased by -5.6% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,546% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, orthopaedic appliances imports shrank to $X in 2022. Overall, imports, however, saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 473% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was near 90% of total imports in 2022. The following importers - Cote d'Ivoire (X tons), Senegal (X tons) and Ghana (X tons) - each reached a 5.8% share of total imports.

Nigeria was also the fastest-growing in terms of the orthopaedic appliances and splints imports, with a CAGR of +41.0% from 2012 to 2022. At the same time, Ghana (+20.2%), Senegal (+15.2%) and Cote d'Ivoire (+13.6%) displayed positive paces of growth. While the share of Nigeria (+39 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ghana (-3.2 p.p.), Senegal (-6.4 p.p.) and Cote d'Ivoire (-8.2 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported orthopaedic appliances and splints in ECOWAS, comprising 67% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 7.6% share of total imports. It was followed by Ghana, with a 7.2% share.

In Nigeria, orthopaedic appliances imports increased at an average annual rate of +38.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+18.2% per year) and Ghana (+18.8% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, rising by 4.7% against the previous year. Over the period under review, the import price, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 69%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform