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The market for medical devices in Ghana continues to be strongly dependent on imports, with low-tech products making up the majority of domestic production.
Majority of the nation’s total medical equipment imports came from Burkina Faso, Italy, and Niger.
In relation to the US dollar, the cedi has decreased in value. As a result, according to Fitch, the market will underperform in the short term and most certainly in the medium term if the currency devaluation persists, as it will make it difficult for companies to import medical devices.
When Russia invaded Ukraine, there was an increase in consumer price inflation. Elevated prices are the main source of inflationary pressures.
The Ghana Medical Devices Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
LG Electronics is betting on the digital healthcare business after scrapping its money-losing smartphone line last year. The conglomerate announced that it had launched a pain relief home device, called MediPain, as its latest healthcare product.
LG Electronics said that the machine, which is designed to intercept the transmission of pain signals in the brain, had won the approval of South Korea’s Ministry of Food and Drug Safety as a medical device.After the device’s launch in South Korea, the company will seek approval from other countries.
LG Electronics released an advanced X-ray detector using artificial intelligence. It also signed a partnership with KAIST, South Korea’s top engineering university, to set up a digital healthcare research centre.
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