General & Plastic Surgery Devices - Nigeria

The General & Plastic Surgery Devices market market in Nigeria is expected to see a significant increase in revenue.
By 2024, it is projected to reach US$32.82m.
This growth is anticipated to continue with an annual growth rate of 11.21% from 2024 to 2029.
As a result, the market volume is estimated to reach US$55.83m by 2029.
When comparing the global market, it is worth noting that the United States is expected to generate the highest revenue.
In 2024, the revenue the United States is projected to be US$9.84bn.
Despite the growing demand for general and plastic surgery devices in Nigeria, the market is hindered by limited access to advanced technology and qualified healthcare professionals.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in Nigeria is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Nigeria are shifting towards a greater focus on personal appearance and self-care. As the country's economy continues to grow, individuals are becoming more conscious of their physical appearance and are seeking ways to enhance it. This has led to an increased demand for general and plastic surgery devices, as people are willing to invest in procedures and treatments that can help them achieve their desired look. Trends in the market further support the growth of the General & Plastic Surgery Devices market in Nigeria. The country's healthcare infrastructure has been improving over the years, with more specialized clinics and hospitals offering cosmetic surgery procedures. This has made these procedures more accessible to the general public, contributing to the increased demand for related devices. Additionally, advancements in technology have made plastic surgery devices more effective and safer, further driving the market growth. Innovations such as minimally invasive procedures and improved surgical instruments have made plastic surgery a more attractive option for individuals looking to enhance their appearance. Local special circumstances in Nigeria also play a role in the development of the General & Plastic Surgery Devices market. The country's large population, estimated to be over 200 million people, provides a significant customer base for the market. Furthermore, Nigeria's growing middle class, with increasing disposable income, is more likely to invest in cosmetic procedures and contribute to the market growth. Underlying macroeconomic factors also contribute to the positive development of the General & Plastic Surgery Devices market in Nigeria. The country's GDP has been steadily increasing, indicating overall economic growth. This has resulted in a higher standard of living and increased spending power among the population. As a result, more individuals are able to afford cosmetic procedures and are willing to invest in related devices. In conclusion, the General & Plastic Surgery Devices market in Nigeria is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As individuals become more conscious of their appearance and have greater access to cosmetic procedures, the demand for related devices will continue to rise. With advancements in technology and a growing middle class, the market is expected to further expand in the coming years.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.