Graphic: how consolidated is Nigeria’s diagnostics market?
For this week’s infographic, we visualise the market share of Nigeria’s five largest lab and imaging groups, three of which are recent entrants from Europe and the GCC.
This past week saw a buyout launched for listed lab and imaging group Union Diagnostics by a minority shareholder (see our news piece).
Figures given to HBI by sources close to the process indicate that the five largest players hold just 7.5% of the country’s diagnostics market (including lab and imaging) which could be around ₦86.4bn ($233m) in 2018 based on growth estimates from 2015-2025. They are local outfit MeCure, global lab group Synlab, GCC diagnostics operator IHH, Union and French lab group Cerba who have combined 2018 revenues of ₦6.5bn ($17.6m).
The market size figure includes public sector providers and could be overly ambitious but even so the market is likely to be highly fragmented.
We would welcome your thoughts on this story. Email your views to Cameron Murray or call 0207 183 3779.