Increased Demand for Specialist Healthcare Services to Drive Hospital Infrastructure Development in Nigeria, says Frost & Sullivan

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Increased Demand for Specialist Healthcare

Services to Drive Hospital Infrastructure

Development in Nigeria, says Frost & Sullivan

PR Newswire

CAPE TOWN, South Africa, June 14, 2012

- Investors will have to strategically manage costs to ensure

profitable construction ventures

CAPE TOWN, South Africa

,

June 14, 2012

/PRNewswire/ -- The high burden of

communicable diseases, and the increasing burden of non-communicable

diseases in

Nigeria

, often necessitates specialist hospital care. Although

Nigeria

has well-equipped tertiary facilities, these do not adequately meet the needs of

the entire population, opening up lucrative market opportunities in the hospital

construction market.

New analysis from Frost & Sullivan (http://www.medicaldevices.frost.com),

Healthcare Infrastructure: Revitalisation and New Hospital Market in

Nigeria

, finds that the revitalisation and new hospitals' market was valued at

$125.4 million

in 2010 and is estimated to be valued at

$149.0 million

in 2017.

"The adoption of more Western lifestyles by the emerging middle class in

Nigeria

, making them prone to non-communicable diseases, has increased the

demand for specialist healthcare services," noted Frost & Sullivan's Healthcare

Research Analyst Tinotenda Sachikonye. "With long waiting lists for tertiary

healthcare services in the country's public sector, the wealthier portion of the

population often seeks specialist healthcare services abroad."

While the continual demand for specialist healthcare services, coupled with a

high economic growth rate in

Nigeria

, is expected to drive the construction of

new hospitals, the high costs of construction, lack of investment and past

instability of the government will determine the pace at which construction

unfolds.

"The cost of construction in

Nigeria

is relatively high, since most inputs for

building – apart from sand, cement and granite – are imported at a high cost

and construction firms need to have capital to be able to generate their own

power and source their own water," elaborated Sachikonye. "It is, therefore,

important to manage costs to ensure profitable construction ventures in

Nigeria

."

Investors in this sector can also seek security of investments through public

private partnerships (PPPs).

"As the country strives to boost its economy, the public sector in

Nigeria

has

indicated commitment in ensuring accessibility of healthcare services to the

population," concluded Sachikonye. "Partnering with the public sector may

prove advantageous as this opens opportunities for subsidisation."

If you are interested in more information on this study, please send an e-mail

with your contact details to Samantha James, Corporate Communications, at

[e-mail].

Healthcare Infrastructure: Revitalisation and New Hospital Market in

Nigeria

is part of the

Medical Devices

Growth Partnership Service