With a population of over 17 million people in 2021, Lagos’ demand for quality healthcare facilities continues to grow. We estimate Lagos has an average of 0.8 hospital beds to 1,000 of its population, 29% lower than the global average of 2.8 hospital beds per 1,000 people.
Alimosho contributes the highest percentage at 15.41% while Epe has the lowest contribution estimated at 1.02%. With an estimated population density of 6,871 residents per square kilometre and a population growth rate of 3.54% (World Population Review,2022), this demand is only set to intensify.
At present, private hospitals account for 80% of total supply in Lagos. This is largely due to increasing participation of private equity companies, healthcare operators and institutional investors.
Still, the development pipeline remains limited, with only 750 beds under development accounting for 5.5% of total stock under development. However, there have been some notable deliveries which include the Duchess Hospital in Ikeja, and Evercare in Lekki Phase 1 commissioned in 2021.
In this Report, we reveal 3 reasons why the Lagos Healthcare sector remains poised for growth. In addition, we reveal the top 10 hospitals in Lagos by hospital beds and private hospitals distribution in the market.
Digest and let our team know what you think directly via research@estateintel.com, all feedback (including corrections) is welcome. You can also reach out if you are interested in an extensive list of the projects and their details in PDF report or spreadsheet format. Enjoy!
