Nigeria: Ophthalmic Instruments Market 2024

Ophthalmic Instruments Market Size in Nigeria

The Nigerien ophthalmic instruments market reduced to $X in 2021, declining by -1.5% against the previous year. In general, consumption, however, saw prominent growth. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Ophthalmic Instruments Production in Nigeria

In value terms, ophthalmic instruments production amounted to $X in 2021 estimated in export price. Overall, production, however, saw strong growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 105% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Ophthalmic Instruments Exports

Exports from Nigeria

Ophthalmic instruments exports from Nigeria declined significantly to X kg in 2021, shrinking by -50.4% compared with the previous year. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 2,256%. The exports peaked at X kg in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, ophthalmic instruments exports contracted markedly to $X in 2021. Over the period under review, exports faced a deep contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 1,507%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

South Africa (X kg) was the main destination for ophthalmic instruments exports from Nigeria, accounting for a 56% share of total exports. Moreover, ophthalmic instruments exports to South Africa exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), twofold. The third position in this ranking was held by Niger (X kg), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Africa stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+8.8% per year) and Niger (-27.6% per year).

In value terms, Cote d'Ivoire ($X) emerged as the key foreign market for ophthalmic instruments and appliances exports from Nigeria, comprising 41% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of total exports. It was followed by South Africa, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Cote d'Ivoire stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-30.7% per year) and South Africa (+15.0% per year).

Export Prices by Country

In 2021, the average ophthalmic instruments export price amounted to $X per ton, shrinking by -66.6% against the previous year. In general, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2016 an increase of 160%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Niger (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ophthalmic Instruments Imports

Imports into Nigeria

In 2021, purchases abroad of ophthalmic instruments and appliances decreased by -20.9% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 397% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then fell markedly in the following year.

In value terms, ophthalmic instruments imports fell sharply to $X in 2021. In general, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of 713%. Imports peaked at $X in 2020, and then fell notably in the following year.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of ophthalmic instruments to Nigeria, with a 37% share of total imports. Moreover, ophthalmic instruments imports from the UK exceeded the figures recorded by the second-largest supplier, South Africa (X tons), threefold. China (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2021, the average annual growth rate of volume from the UK stood at +146.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+132.7% per year) and China (+127.3% per year).

In value terms, the UK ($X) constituted the largest supplier of ophthalmic instruments and appliances to Nigeria, comprising 43% of total imports. The second position in the ranking was taken by India ($X), with a 12% share of total imports. It was followed by South Africa, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK amounted to +133.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+89.9% per year) and South Africa (+86.7% per year).

Import Prices by Country

The average ophthalmic instruments import price stood at $X per ton in 2021, which is down by -21.2% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 64% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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