LONDON, Feb. 4, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:
Analysis of the Nigerian Patient Monitor Market
Urbanisation is the Key Market Growth Driver
This research service provides an analysis of patient monitors within Nigeria, both in the public sector and private sector markets during the period 2012 to 2019. This research service was compiled using primary and secondary research as the principle methods of data gathering. The patient monitor market is segmented into 3 main product segments – multi-parameter monitors, anaesthesia monitors, and vital signs monitors. Key drivers and restraints are identified within this market, as well as a comprehensive analysis of the competitive landscape. Key findings and predictions about future market trends are discussed.
Methodology
For Market Engineering research, Frost & Sullivan utilises tried and tested marketing techniques to provide structure to the research and an easy format to compare results across different countries and markets over time.
This project was carried out using primary research (telephone or face-to-face interviews) and secondary (published and online material) as the principle methods of data gathering.
Primary Research Examples
• Medical device manufacturers and supplies/distributors
• Government: Federal Ministry of Health (FMoH)
• General Managers
• Procurement Officers
• Marketing and Sales Managers
• Regulatory Bodies
Secondary Research Examples
• Frost & Sullivan's internal expertise/previous research services
• World Bank
• World Health Organisation (WHO)
• Scientific Journal Articles
• Country Healthcare Overview (FMoH, National Bureau of Statistics)
Forecast Methodology
• Quantitative data was gathered via primary interviews conducted by telephone.
• Frost & Sullivan applies market variables in a forecast model where their weight and impact over the selected period of time is taken into consideration to derive growth.
• The model further takes into account the statistical probability of the drivers and restraints showing an impact during the forecast period.
• An underlying base growth rate driving the market is taken into consideration throughout the forecast period.
Key Findings
• The revenue for patient monitor market is estimated to grow to $X million by 2019. The revenue earned in Nigeria during 2012 stood at $X million. With the declining prices of equipment, the revenue generated is attributed to volume sales.
• The multi-parameter, anaesthesia, and vital signs patient monitor segments are predicted to have a steady growth rate in the long term of the forecast period.
• The multi-parameter monitor segment contributedX% of the revenue to the total patient monitor market with the anaesthesia monitor segment contributing X%. The vital signs monitor segment is a high-growth segment that contributed X% of revenue to the total patient monitor market.
• The public sector contributed X% to the total market revenue in 2012, while the private sector accounted for the remaining X%.
• Competition within the Nigerian patient monitor market is dominated by X key participants–Mindray Medical, Philips Healthcare, and GE Healthcare.
• Increased competition from low-priced products of lesser quality and reliability will constrain revenue growth throughout the forecast period.
• The presence of Asian manufacturers in the market has increased steadily in recent years and, in 2011, X% of imports of patient monitors originated from Asia-Pacific and the Middle East.
• Poor medical device regulations, lack of formalised reporting channels, and limited budget availability in the public health sector for the procurement of premium patient monitor products will continue to slow the adoption of patient monitors in the market.
Scope and Segmentation
Geographic Coverage: Nigeria
Study Period: 2011–2019
Base Year: 2012
Forecast Period: 2013–2019
Monetary Unit: US Dollars
Conversion Rate: NGN X = $X
• This research service focuses on the Nigerian patient monitor market.
• The study focuses on the following patient monitor product segments:
oMulti-parameter Monitor
oAnaesthesia Monitor
oVital Signs Monitor
• This research service focuses on both public and private healthcare service sectors.
• Specific target areas include FMoH, regulatory officers, procurement officers, suppliers, and manufactures.
CEO's Perspective
1. The patient monitor market will continue to have a steady growth rate during the next X years.
2. Availability of aftersales user and technical support drives the patient monitor market.
3. Product pricing is cited as the most significant criteria by end users in the procurement of patient monitors.
4. Policy on public private partnerships (PPP) will drive growth in the Nigerian healthcare market.
5. Urbanisation drives the demand for patient monitors in the market due to economic growth and increases in non-communicable diseases (NCDs).
Key Companies to Watch
Mindray Medical
• Mindray has been able to build strong geographic distribution and technical support networks due to an established local office and relationship with X prominent local distributors.
• Apart from offering a wide range of patient monitors, Mindray also addresses the broader healthcare system challenges in Nigeria through its One Solution offering to hospitals.
Philips Healthcare
• Strong local presence enables Philips Healthcare to maintain a competitive advantage in the patient monitor market with its broad product portfolio ranging from monitors to diagnostic imaging equipment and healthcare IT solutions.
GE Healthcare
• GE Healthcare has a significant presence in public hospitals, aiming to be a one-stop product provider for healthcare equipment by leveraging its global capabilities and expertise.
• Through various community initiatives in Nigeria, GE Healthcare is establishing itself as a trusted and reputable company in the healthcare sector.
Key Questions This Study Will Answer
What is the size and growth potential of the patient monitor market in Nigeria?
What are the drivers, restraints, and challenges governing the patient monitor market in Nigeria?
What is the size and growth potential of various product segments in the patient monitor market in Nigeria? What opportunities exist for each of these product segments?
Which market participants are the existing competitors within the Nigerian patient monitor market and how are their marketing strategies structured to meet basic customer needs?
What factors contribute to the key growth opportunities in each product segment and what strategic recommendations can assist participants to capitalise on those opportunities?
What are the leading patient monitors in each product segment?
Table of Contents
1. Executive Summary
2. Market Overview
3. Competitive Playbook
4. Total Patient Monitor Market
• Drivers, Restraints and Trends
• Forecast and Trends
5. Competitive Environment
6. Multi-parameter Monitor Segment Breakdown
7. Anaesthesia Monitor Segment Breakdown
8. Vital Signs Monitor Segment Breakdown
9. Key Companies to Watch
10. The Last Word
11. Appendix
List of Exhibits
• Total Patient Monitor Market: Market Engineering Measurements, Nigeria, 2012
• Total Patient Monitor Market: Economic Indicators, Nigeria, 2012
• Total Patient Monitor Market: Mortality and Burden of Disease, Nigeria, 2011 and 2012 Nigeria Healthcare Overview
• Total Patient Monitor Market: Public Healthcare Structure, Nigeria, 2012
• Total Patient Monitor Market: Healthcare Facilities by Legal Status, Nigeria, 2012
• Total Patient Monitor Market: Healthcare Regulatory Bodies, Nigeria, 2012
• Total Patient Monitor Market: Patient Monitor Import Partners, Nigeria, 2011
• Total Patient Monitor Market: Market Segmentation, Nigeria, 2012
• Per cent Sales Breakdown, Total Patient Monitor Market: Nigeria, 2012
• Total Patient Monitor Market: Market Outlook, Nigeria, 2012–2022
• Total Patient Monitor Market: Game-changing Strategies, Nigeria, 2012
• Total Patient Monitor Market: Market Outlook, Nigeria, 2011–2012
• Total Patient Monitor Market: Mega Trend Impact, Nigeria, 2012
• Total Patient Monitor Market: Key Market Drivers, Nigeria, 2013–2019
• Total Patient Monitor Market: Planned Initiatives, Nigeria, 2012–2017
• Total Patient Monitor Market: Key Market Restraints, Nigeria, 2013–2019
• Total Patient Monitor Market: Market Engineering Measurements, Nigeria, 2012
• Total Patient Monitor Market: Revenue Forecast, Nigeria, 2011–2019
• Total Patient Monitor Market: Revenue Forecast by Vertical Market, Nigeria, 2011–2019
• Total Patient Monitor Market: Procurement Process, Nigeria, 2012
• Total Patient Monitor Market: Significant Criteria by End Users in the Procurement of Patient Monitors, Nigeria, 2012–2019
• Total Patient Monitor Market: Per cent Sales Breakdown,Nigeria, 2012
• Total Patient Monitor Market: Company Ranking of Top 5 Participants, Nigeria, 2012
• Total Patient Monitor Market: SWOT Analysis, Nigeria, 2012
• Total Patient Monitor Market: Timeline of Key Events, Nigeria, 2010–2015
• Patient Monitor Market: Per cent Sales Breakdown, Nigeria, 2012
• Multi-parameter Monitor Segment: Market Engineering Measurements, Nigeria, 2012
• Multi-parameter Monitor Segment: Revenue Forecast, Nigeria, 2011–2019
• Patient Monitor Market: Per cent Sales Breakdown, Nigeria, 2012
• Anaesthesia Monitor Segment: Market Engineering Measurements, Nigeria, 2012
• Anaesthesia Monitor Segment: Revenue Forecast, Nigeria, 2011–2019
• Patient Monitor Market: Per cent Sales Breakdown, Nigeria, 2012
• Vital Signs Monitor Segment: Market Engineering Measurements, Nigeria, 2012
• Vital Signs Monitor Segment: Revenue Forecast, Nigeria, 2011–2019
Read the full report:
Analysis of the Nigerian Patient Monitor Market
http://www.reportbuyer.com/pharma_healthcare/medical_supplies/hospital_supplies/analysis_nigerian_patient_monitor_market.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Medical_Equipment_and_Supply
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
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