ECOWAS: Diagnostic Equipment Market 2024

Diagnostic Equipment Market Size in ECOWAS

In 2022, the ECOWAS diagnostic equipment market was finally on the rise to reach $X after two years of decline. In general, consumption, however, saw a slight contraction. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Diagnostic Equipment Production in ECOWAS

In value terms, diagnostic equipment production rose significantly to $X in 2022 estimated in export price. Overall, production, however, recorded a slight reduction. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Diagnostic Equipment Exports

Exports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in shipments abroad of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus, which increased by X% to X units in 2022. Overall, exports saw a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, diagnostic equipment exports stood at $X in 2022. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Niger was the largest exporting country with an export of about X units, which recorded X% of total exports. It was distantly followed by Nigeria (X units), Sierra Leone (X units) and Benin (X units), together achieving a X% share of total exports. The following exporters - Guinea (X units) and Ghana (X units) - each finished at a X% share of total exports.

Niger was also the fastest-growing in terms of the electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus exports, with a CAGR of X% from 2012 to 2022. At the same time, Nigeria (X%), Guinea (X%), Benin (X%) and Sierra Leone (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Niger (X p.p.), Nigeria (X p.p.), Benin (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sierra Leone (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest diagnostic equipment supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Sierra Leone ($X), with a X% share of total exports. It was followed by Benin, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (X% per year) and Benin (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by X% against the previous year. In general, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 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 Benin ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced a decline in the export price figures.

Diagnostic Equipment Imports

Imports in ECOWAS

After two years of decline, overseas purchases of electro-diagnostic apparatus, and ultra-violet or infra-red ray apparatus increased by X% to X units in 2022. Over the period under review, imports continue to indicate strong growth. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, diagnostic equipment imports expanded rapidly to $X in 2022. Overall, imports posted modest growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria was the key importing country with an import of around X units, which recorded X% of total imports. Senegal (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units), Benin (X units) and Burkina Faso (X units). All these countries together took near X% share of total imports. The following importers - Togo (X units) and Ghana (X units) - each reached a X% share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Benin (X%), Senegal (X%), Cote d'Ivoire (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) and Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Senegal (X p.p.), Cote d'Ivoire (X p.p.), Benin (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Togo and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Benin, Senegal, Burkina Faso and Togo lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Benin, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, waning by X% against the previous year. In general, the import price recorded a noticeable slump. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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