Nigeria Diabetes Devices Market Report 2022 to 2030

Nigeria Diabetes Devices Market Analysis

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Nigeria's Diabetes Devices Market is expected to witness growth from $20 Mn in 2022 to $38 Mn in 2030 with a CAGR of 8.20 % for the forecasted year 2022-30. There is probably going to be more of a demand for diabetes devices in Nigeria as people look for better ways to manage their condition as knowledge of diabetes and its management increases. The market is segmented by type and by the end user. Some key players in this market include JNC International, GBioMed Nigeria, Johnson & Johnson, Philipps Healthcare, Medtronic, Roche and Dexcom.

ID: IN10NGMD007 CATEGORY: Medical Devices GEOGRAPHY: Nigeria AUTHOR: Jigyasu Bhandari

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Nigeria Diabetes Devices Healthcare Market Executive Analysis

Nigeria's Diabetes Devices Market is expected to witness growth from $20 Mn in 2022 to $38 Mn in 2030 with a CAGR of 8.20 % for the forecasted year 2022-30. The $495 Bn GDP of Nigeria allocates 3.75% to state healthcare. Nigeria's 206 Mn population will have nearly doubled by 2050. The Nigerian government has provided pharmaceutical companies, product manufacturers, and healthcare service providers with access to $254.6 Mn in state loan facilities. The typical family pays for 72% of its medical costs out of pocket, which is higher than the sub-Saharan average of 35%. Similarly to this, only 5% of medical costs are covered by insurance.

In Nigeria, there are 3.9 million people aged 20 to 79 who have diabetes, or 3.6% of the total population. By 2045, this figure is anticipated to increase to 5.3 million, or 4.3% of the total population. In Nigeria, people who live in urban areas are more likely to have diabetes than people who live in rural areas; the prevalence rate in urban regions is thought to be around 5.7%, compared to 2.3% in rural areas. As diabetes devices offer many advantages and benefits to those who have diabetes, diabetes devices are growing in popularity in Nigeria. People with diabetes have their blood glucose levels monitored by diabetes gadgets. They give people with diabetes a precise and simple method to measure blood glucose levels and aid in better diabetes management. Regular monitoring allows people with diabetes to modify their diet, lifestyle, and medication as necessary to maintain blood glucose levels in a healthy range, which can help avoid complications from diabetes.

Nigeria Diabetes Devices Market Analysis

Market Dynamics

Market Growth Drivers

More people in Nigeria are able to afford diabetes devices as disposable income levels increase, despite the fact that these devices are typically more expensive than conventional diabetes management tools. This will probably increase demand in the nation for diabetes devices. Public health campaigns, social media, and other forms of education are helping to raise awareness of diabetes and how to control it in Nigeria. There is probably going to be more of a demand for diabetes devices as people look for better ways to manage their condition as knowledge of diabetes and its management increases. In order to combat the rising diabetes epidemic in Nigeria, the Nigerian government has started a number of projects. The National Diabetes Control Programme, for instance, was created to enhance diabetes prevention, management, and therapy. These efforts will probably increase the demand for diabetes devices in the nation.

Market Restraints

In spite of the rising diabetes consciousness in Nigeria, little is known about diabetes devices and their advantages. This might lower the desire for diabetes devices and make it harder for companies to market their devices. Diabetes devices can be less affordable for those with lower incomes because they are typically more expensive than conventional diabetes control tools. This might reduce the size of the possible market for diabetes devices and make it harder for producers to reach more people.

Competitive Landscape

Key Players

JNC International (NG)
GBioMed Nigeria (NG)
Johnson & Johnson
DarioHealth
Medtronic
Philipps Healthcare
Dexcom

Healthcare Policies and Regulatory Landscape

Several government organizations, including the National Agency for Food and Drug Administration and Control (NAFDAC), the Federal Ministry of Health, and the National Health Insurance Scheme (NHIS), are in charge of monitoring the healthcare laws and regulations in Nigeria's diabetes device industry. The importation, production, sale, and use of diabetes devices in Nigeria are all subject to NAFDAC regulation. Before their goods can be marketed and distributed in the nation, manufacturers must register them with NAFDAC. In order to guarantee the effectiveness and safety of diabetes devices, NAFDAC also carries out post-market monitoring. The Federal Ministry of Health is in charge of directing healthcare policies and programmes in Nigeria, including those relating to the treatment of diabetes and control. The ministry is in charge of implementing legislation that will improve diabetes management and treatment in Nigeria. Guidelines for the disease's diagnosis, treatment, and prevention have been developed by the government.

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

Diabetes Devices Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into blood glucose monitoring systems, insulin delivery systems, and mobile applications for managing diabetes within the type segment. Due to its convenience, ease of use, and usefulness in providing patients and healthcare professionals with real-time insights regarding diabetic conditions for integrated diabetes management, the segment for diabetes management mobile applications is anticipated to grow at the highest rate during the forecast period. Bare-metal Stents

Blood glucose monitoring systems
Self-monitoring blood glucose monitoring systems
Continuous glucose monitoring systems
Test strips/Test papers
Lancets/Lancing Devices
Insulin delivery Devices
Insulin pumps
Insulin pens
Insulin syringes and needles
Diabetes management mobile applications

By End User (Revenue, USD Billion):

The diabetes market is divided into hospitals & specialty clinics and self & home care, based on the end user.

Hospitals & Specialty Clinics
Self & Home Care

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.