Western Africa: Ecg Market 2024

Ecg Market Size in Western Africa

The West African ECG market was estimated at $X in 2023, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded resilient growth. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Ecg Production in Western Africa

In value terms, ECG production rose slightly to $X in 2023 estimated in export price. Over the period under review, production showed a remarkable increase. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Ecg Exports

Exports in Western Africa

In 2023, approx. X units of electro-cardiographs were exported in Western Africa; shrinking by X% compared with 2022 figures. Overall, exports showed a pronounced setback. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then shrank notably in the following year.

In value terms, ECG exports shrank notably to $X in 2023. In general, exports recorded a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the major exporter of electro-cardiographs in Western Africa, with the volume of exports finishing at X units, which was near X% of total exports in 2023. Ghana (X units) ranks second in terms of the total exports with an X% share, followed by Cote d'Ivoire (X%).

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of electro-cardiographs. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria and Ghana increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) emerged as the largest ECG supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Ghana amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2023, rising by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Ecg Imports

Imports in Western Africa

In 2023, purchases abroad of electro-cardiographs decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, ECG imports shrank sharply to $X in 2023. In general, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Nigeria (X units), distantly followed by Ghana (X units), Cote d'Ivoire (X units), Benin (X units) and Senegal (X units) represented the key importers of electro-cardiographs, together generating X% of total imports. Burkina Faso (X units) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ECG importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined X% share of total imports. Ghana, Benin and Burkina Faso lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Benin, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in Western Africa amounted to $X per unit, approximately mirroring the previous year. In general, the import price, however, recorded a prominent increase. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Senegal ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform