Nigeria Cardiac Surgery Instruments Market Report 2022 to 2030

Nigeria Cardiac Surgery Instruments Market Analysis

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The Nigeria Cardiac Surgery Instruments Market is expected to witness growth from $2 Mn in 2022 to $3 Mn in 2030 with a CAGR of 7.60% for the forecasted year 2022-2030. The market for instruments used in cardiac surgery is significantly influenced by the elevated rate of heart disease in Nigeria. The market is segmented by type, application and by end user. Some key players in this market include JNC International, GBioMed Nigeria, LivaNova, B. Braun, Medline Industries, KLS Martin, and STILLE.

ID: IN10NGMD004 CATEGORY: Medical Devices GEOGRAPHY: Nigeria AUTHOR: Jigyasu Bhandari

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Nigeria Cardiac Surgery Instruments Healthcare Market Executive Analysis

The Nigeria Cardiac Surgery Instruments Market size is at around $2 Mn in 2022 and is projected to reach $3 Mn in 2030, exhibiting a CAGR of 7.60% during the forecast period. 3.75% of Nigeria's $495 billion GDP goes toward public healthcare. By 2050, Nigeria's 206 Mn people will have nearly doubled in number. The Nigerian government has made $254.6 million in state credit facilities accessible to businesses that provide healthcare services, pharmaceutical firms, and product manufacturers. Compared to the sub-Saharan average of 35%, the typical family pays for 72% of its medical expenses out of pocket. In a similar vein, insurance only pays 5% of medical expenses.

In Nigeria, 11% of fatalities are caused by Cardiovascular Diseases (CVDs), which are also a significant cause of morbidity and mortality. The form of CVD with the highest prevalence is ischemic heart disease. The incidence of CVDs has been increasing in Nigeria over time as a result of lifestyle modifications, urbanization, and population ageing. Hypertension, a major risk factor for CVDs, was present in 46.4% of Nigerian adults. Additional CVD risk factors in Nigeria include elevated cholesterol, diabetes, obesity, inactivity, and smoking. Diabetes was present in 44.4% of Nigerians with heart failure in 2019.

In Nigeria, surgical methods for the treatment of cardiovascular diseases often use cardiac surgery instruments. Cardiothoracic doctors' use of these essential tools is crucial and essential to achieving positive results. Heart valve injuries can be repaired or replaced using cardiac surgery instruments. The tools give surgeons precise access to the heart and the ability to carry out challenging operations. Coronary artery bypass graft surgery involves the creation of new blood vessels that go around blocked or congested coronary arteries using cardiac surgical instruments. This increases the heart's blood flow and lowers the chance of heart attacks. Aneurysms are protrusions in the blood artery walls that are treated with cardiac surgery instruments. The tools enable doctors to reach the aneurysm and treat it, lowering the chance of bleeding and rupture. Pacemakers, which control the pulse, are implanted using tools used in cardiac surgery. The equipment enables highly accurate entry to the heart for pacemaker implantation. By increasing the success rate of cardiovascular surgeries, the use of cardiac surgery instruments can enhance patient outcomes. The danger of complications during surgery is decreased by the use of precise and high-quality cardiac surgery instruments. Cardiothoracic surgery instruments enable doctors to carry out minimally invasive procedures, which reduces hospital stays and speeds up recovery.

Nigeria Cardiac Surgery Instruments Market Analysis

Market Dynamics

Market Growth Drivers

The market for instruments used in cardiac surgery is significantly influenced by the elevated rate of heart disease in Nigeria. The demand for cardiac surgery equipment is anticipated to increase as the prevalence of heart illnesses in the nation continues to rise. The market is expanding as a result of the creation of innovative and cutting-edge cardiac surgery instruments. Robotic-assisted surgery and minimally invasive surgery are two examples of new technologies that are enhancing patient outcomes and speeding up healing. In Nigeria, there is an increase in knowledge and instruction about heart diseases, which is fueling demand for equipment used in cardiac surgery. The demand for cardiac surgery equipment is expected to rise as more people become aware of the advantages of early detection and treatment of heart diseases.

Market Restraints

The market for cardiac surgery instruments in Nigeria is highly competitive due to low-cost substitutes like refurbished equipment or products from unregulated makers. The development potential for established manufacturers may be constrained as a result. The Nigerian regulatory climate can be difficult for companies that produce instruments for cardiac surgery. It may be challenging for businesses to get regulatory approval for their goods, which may restrict their ability to offer in the market.

Competitive Landscape

Key Players

JNC International (NG)
GBioMed Nigeria (NG)
LivaNova
B. Braun
KLS Martin
Medline Industries
STILLE

Healthcare Policies and Regulatory Landscape

The National Health Act, which was made into law in 2014, offers a structure for the management and growth of the Nigerian healthcare industry. The National Health Insurance Scheme (NHIS) is created by the Act, which also governs how medical services are delivered in Nigeria. New guidelines for cardiac surgery instruments in Nigeria were released by the National Agency for Food and Drug Administration and Control (NAFDAC) in 2017. Manufacturers are required by the rules to register their products with NAFDAC and adhere to a set of safety and quality requirements. In order to encourage domestic production and manufacturing of medical tools, including instruments for cardiac surgery, the Nigerian government has implemented a number of procurement policies. Public organizations are required by these regulations to favour instruments made locally. Nigeria's NAFDAC has released new medical device regulations. Manufacturers are required by the rules to register their devices with NAFDAC and adhere to a set of safety and quality requirements.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiac Surgery Instruments Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into segments in this study based on the goods, applications, end users, and geographical areas. The market is divided into forceps, scissors, needle holders, clamps, and other cardiac surgery instruments based on the product. In 2017 the forceps category led the market, and it is anticipated that it will increase at the fastest rate going forward. The rise in heart surgeries and the frequent usage of forceps in most cardiac procedures are credited with the segment's strong growth.

Forceps
Vascular Forceps
Grasping Forceps
Other Forceps
Needle Holders
Scissors
Clamps
Other Cardiac Surgical Instruments

By Application (Revenue, USD Billion):

The market is further segmented by application into paediatric cardiac surgery, heart valve surgery, coronary artery bypass graft (CABG), and other applications. The Nigeria market's largest and fastest-growing application segment is CABG. This is mostly explained by the increased prevalence of heart illnesses and the consequent rise in surgical treatments. The second-largest category is heart valve surgery.

Coronary Artery Bypass Graft (CABG)
Heart Valve Surgery
Pediatric Cardiac Surgery
Other Applications

By End User (Revenue, USD Billion):

Based on the end user, the market is segmented into hospitals and cardiac centers, and ambulatory surgery centers. The hospitals and cardiac centers segment is expected to dominate the market for cardiac surgery instruments. Growth in this end-user segment can be attributed to the increasing incidence of cardiac and heart valve diseases and the subsequent increase in the number of cardiac surgery procedures.

Hospitals and Cardiac Centers
Ambulatory Surgery Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.