Report Update Nov 1, 2024

Nigeria - Artificial Joints for Orthopedic Purposes - Market Analysis, Forecast, Size, Trends and Insights

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Nigeria: Orthopedic Artificial Joints Market 2024

Orthopedic Artificial Joints Market Size in Nigeria

The Nigerien orthopedic artificial joints market reduced notably to $X in 2022, with a decrease of -68.4% 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). Over the period under review, consumption, however, recorded a precipitous setback. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Orthopedic Artificial Joints Exports

Exports from Nigeria

In value terms, orthopedic artificial joints exports rose markedly to $X in 2022. Overall, exports faced a precipitous decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 194%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In value terms, South Africa ($X) also remains the key foreign market for artificial joints for orthopedic purposes exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa amounted to +24.0%.

Orthopedic Artificial Joints Imports

Imports into Nigeria

Orthopedic artificial joints imports into Nigeria soared to X units in 2022, rising by 358% compared with 2021 figures. Over the period under review, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, orthopedic artificial joints imports dropped markedly to $X in 2022. In general, imports continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2014 with an increase of 9,708%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

India (X units), Spain (X units) and Belgium (X units) were the main suppliers of orthopedic artificial joints imports to Nigeria, with a combined 62% share of total imports.

From 2020 to 2022, the biggest increases were recorded for Spain (with a CAGR of +2,683.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest orthopedic artificial joints suppliers to Nigeria were India ($X), Spain ($X) and Belgium ($X), with a combined 50% share of total imports.

Spain, with a CAGR of +109.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average orthopedic artificial joints import price amounted to $X per unit, waning by -93.1% against the previous year. In general, the import price recorded a precipitous slump. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and India ($X per unit), while the price for the UK ($X per unit) and South Africa ($X per unit) were amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (-89.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for artificial joints for orthopedic purposes in the world?

The countries with the highest volumes of orthopedic artificial joints consumption in 2020 were the U.S., China and Japan, together accounting for 57% of global consumption. These countries were followed by Brazil, Switzerland, Belgium, Germany, Ethiopia, Italy, France, the UK and South Korea, which together accounted for a further 24%.

What are the largest producers of artificial joints for orthopedic purposes in the world?

The country with the largest volume of orthopedic artificial joints production was the U.S., comprising approx. 47% of total volume. Moreover, orthopedic artificial joints production in the U.S. exceeded the figures recorded by the second-largest producer, China, threefold. The third position in this ranking was occupied by Ireland, with a 5.2% share.

What are the leading suppliers of artificial joints for orthopedic purposes to Nigeria?

In value terms, China constituted the largest supplier of orthopedic artificial joints to Nigeria, comprising 92% of total imports. The second position in the ranking was occupied by Bangladesh, with a 0.5% share of total imports.

What are the leading importers of artificial joints for orthopedic purposes from Nigeria?

In value terms, the largest markets for orthopedic artificial joints exported from Nigeria were South Africa and the UK $875).

What is the average export price for artificial joints for orthopedic purposes in Nigeria?

The average orthopedic artificial joints export price stood at $404,365 per ton in 2020, waning by -63.1% against the previous year.

What is the average import price for artificial joints for orthopedic purposes in Nigeria?

The average orthopedic artificial joints import price stood at $123 per kg in 2020, shrinking by -81.3% against the previous year.

This report provides an in-depth analysis of the orthopedic artificial joints market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32502235 - Artificial joints

Country coverage:

Nigeria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Nigeria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023