Ghana: Medical Instruments Market 2024

Medical Instruments Market Size in Ghana

The Ghanian medical instruments market dropped to $X in 2022, waning by -10.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a abrupt downturn. Medical instruments consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Medical Instruments Exports

Exports from Ghana

In 2022, after four years of decline, there was decline in overseas shipments of instruments used in medical sciences, when their volume decreased by 0% to less than X kg. Overall, exports enjoyed a mild increase. The growth pace was the most rapid in 2017 when exports increased by 1,034%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, medical instruments exports surged to $X in 2022. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 76,472% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Burkina Faso (X kg), Togo (X kg) and the United States (X kg) were the main destinations of medical instruments exports from Ghana, together accounting for 74% of total exports. Guinea, Cote d'Ivoire, Egypt and Mali lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2019, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +126.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) emerged as the key foreign market for instruments used in medical sciences exports from Ghana, comprising 13% of total exports. The second position in the ranking was held by Togo ($X), with a 6.2% share of total exports. It was followed by Guinea, with a 5.5% share.

From 2012 to 2019, the average annual growth rate of value to Burkina Faso amounted to +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+34.9% per year) and Guinea (+4.9% per year).

Export Prices by Country

The average medical instruments export price stood at $X per kg in 2019, picking up by 730% against the previous year. In general, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2013 an increase of 87,488% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2014 to 2019, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mali ($X per kg), while the average price for exports to the United States ($X per kg) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Mali (+70.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medical Instruments Imports

Imports into Ghana

In 2022, imports of instruments used in medical sciences into Ghana declined to X tons, reducing by -10.4% on 2021. Over the period under review, imports continue to indicate a deep slump. The pace of growth was the most pronounced in 2015 when imports increased by 170%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, medical instruments imports fell to $X in 2022. Overall, imports saw a abrupt decline. The pace of growth appeared the most rapid in 2015 when imports increased by 148% against the previous year. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest medical instruments supplier to Ghana, with a 36% share of total imports. Moreover, medical instruments imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Denmark (X tons), with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-12.7% per year) and Denmark (+20.1% per year).

In value terms, the Netherlands ($X), China ($X) and the United States ($X) were the largest medical instruments suppliers to Ghana, with a combined 46% share of total imports. Germany, the UK, India, Belgium, Israel, Denmark, Hong Kong SAR and Canada lagged somewhat behind, together comprising a further 25%.

Israel, with a CAGR of +10.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average medical instruments import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by 120%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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