Story HighlightsThe costs of blood sugar and blood pressure monitors have surged by over 100% since 2023, making them increasingly unaffordable for many Nigerians.This price hike is driven by increased demand, inflation, foreign exchange crunch, higher manufacturing costs, and significant scarcity reported by pharmacists.The financial burden is forcing individuals to forego regular health monitoring, leading to severe health risks.
Every morning, 30-year-old Ejiro Paul checks on her aging parents, both of whom rely on daily monitoring to manage their diabetes and hypertension.
Last week, their blood sugar monitor malfunctioned, and their blood pressure cuff began to give erratic readings. Determined to ensure her parents’ health, Ejiro set out to replace these essential devices.
However, she was stunned to find that the cost of new monitors had skyrocketed since 2023, making it nearly impossible for her to afford the replacements.
In recent years, the prices of blood sugar and blood pressure monitors have surged by as much as 200%, leaving many individuals like Ejiro struggling with the financial burden of managing chronic health conditions.
Significance of blood pressure and sugar monitors
Blood sugar and blood pressure monitors are essential tools for individuals managing diabetes and hypertension, two of the most prevalent chronic conditions in Nigeria.
According to the World Health Organization, Nigeria has one of the highest rates of hypertension in Africa, with an estimated 31.2% of adults affected.
Similarly, the International Diabetes Federation reports that over five million Nigerians are living with diabetes.
Regular monitoring is crucial for these individuals to maintain their health, avoid complications, and reduce the risk of life-threatening events such as heart attacks and strokes.
These monitors enable users to track their health metrics accurately and make informed decisions about their diet, medication, and lifestyle.
Historical pricing
Before the significant price surge in recent years, blood sugar and blood pressure monitors were relatively affordable and accessible in Nigeria.
In 2020, a basic blood sugar monitor typically cost between ₦9,000 and ₦15,000, while a standard blood pressure monitor ranged from ₦15,000 to ₦25,000. These prices allowed most individuals to manage their conditions without a substantial financial burden. However, starting in 2023, a confluence of factors began to drive up the costs. Significant scarcity, increased demand, inflation, and higher manufacturing expenses contributed to the steady rise in prices. By 2024, consumers noticed that the same devices had become significantly more expensive, with some models seeing price increases of up to 200%. This steep rise has made it challenging for many Nigerians to afford these crucial health monitoring tools, exacerbating the difficulties faced by those already struggling with chronic health conditions. Price comparison
Nairametrics has compiled the current prices of commonly used blood sugar monitors and blood pressure monitors in Nigeria against their prices in 2023.
Factors influencing the increase
Scarcity
Nairametrics spoke to pharmacists at both wholesale and retail pharmacies, who reported a significant scarcity of both blood pressure and blood sugar monitors.
An Abuja-based pharmacist, Dr Ife Ihiemeka, said some of the products are currently scarce and, where available, expensive.
“They are a bit scarce now. In case you find them, you must be ready to pay a premium as they are overpriced,” he said.
A wholesale pharmacist said, “There is scarcity now. We don’t have any brand of blood sugar monitors or blood pressure machines.”
This scarcity has resulted from the combined effects of supply chain disruptions, increased demand, and inflation. The limited availability of these essential devices has further driven up prices as consumers scramble to obtain them. Pharmacies have noted that scarcity often leads to increased prices due to the basic economic principle of supply and demand, where the high demand for a limited supply results in higher costs for consumers. Inflation
Nigeria’s inflation rate rose to 33.69% from 33.2% in March. The country has experienced significant inflation in recent years, impacting the prices of goods and services across the board.
The devaluation of the Naira has also contributed to the rising costs of imported medical devices. As the local currency weakens, the cost of importing these devices increases, leading to higher retail prices for consumers. Increased demand
With the rising prevalence of chronic conditions like diabetes and hypertension in Nigeria, there has been a growing demand for monitoring devices.
This increased demand, coupled with the limited supply caused by supply chain issues, has driven up the prices significantly. More people are now aware of the importance of regular health monitoring, further fuelling the demand for these devices. Impact on consumers
Financial burden
Speaking with patients, Nairametrics found out how the steep increase in the prices of blood sugar and blood pressure monitors has placed a significant financial burden on many Nigerians.
“It keeps getting worse. One day you go and buy and the next day the price has changed. People who have hypertension are suffering. Everything is expensive,” one man said.
“What can I say? It is difficult to keep up. I don’t even buy the machines; I just focus on my drugs,” another patient said.
Individuals managing chronic conditions often need to replace these devices regularly to ensure accurate readings.
The higher costs have made it difficult for some to afford these replacements, potentially compromising their ability to monitor their health effectively.
Health implications
For those unable to afford the higher prices, the inability to regularly monitor their blood sugar and blood pressure levels can lead to severe health complications.
A community pharmacist, Pharmacist Uche told us, “Many people don’t check their blood sugar and blood pressure levels. If you ask them why, they’ll tell you it’s because they can’t afford the machines.
“Pharmacists are aware of the situation, so we offer free blood sugar and blood pressure checks to customers.”
Uncontrolled diabetes and hypertension increase the risk of heart disease, stroke, kidney failure, and other life-threatening conditions. The financial strain may force some individuals to forego regular monitoring, leading to poorer health outcomes.
Potential solutions
The Nigerian Hypertension Society has said that there is a need for government intervention to address the rising costs of medical devices. Policies that promote local manufacturing of these devices could help reduce dependence on imports and mitigate the impact of currency fluctuations.
Additionally, subsidizing the cost of essential medical devices or providing them at reduced rates through public health programs could make them more accessible to those in need. Encouraging more manufacturers to enter the Nigerian market could increase competition and help drive down prices. Government incentives and support for local startups and small businesses in the medical device sector could foster innovation and reduce costs. Raising public awareness about the importance of affordable health monitoring devices and advocating for policy changes can also play a crucial role. For example, many community pharmacies in Nigeria are offering free checks for blood pressure and blood sugar levels.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Nairametrics – https://nairametrics.com/2024/05/18/scarcity-forex-crunch-push-up-prices-of-blood-sugar-bp-monitors-by-over-100-in-one-year/
