Africa Medical Devices Market
The Africa Medical Devices market is growing with a steady pace; mainly due to the rapidly growing middle income group, increasing healthcare expenditure, increasing number of medical tourists, proliferation of hospitals, government programs and support, and increasing incidence of lifestyle diseases. Moreover, rising economic growth also drive the market in this region. According to the World Bank Group, in 2016, GDP of the Middle East & North Africa experienced the growth in GDP by 4.89%. It is expected that Africa’s macroeconomic climate over the next decade will expand the health care gap, as higher incomes will create new demand for the medical devices market.
The Africa medical devices market to reach around $ 7069.61 million from $ 4900 million in 2027, by the end of the forecast period at a CAGR of ~ 6.3 %.
Companies are continuously engaged in merger and acquisition activities for the development of the best medicine to cure affected population. Although the government stick rule hindering the growth of the market. In May 2017, Baxter International Inc. and Mayo Clinic announced a collaboration for the research and development to advance a spectrum of therapeutic areas to minimize the unmet patient needs. These collaborations help market players to lead the market of Africa. Most of the players from this region involve in the collaboration with global players to get advanced technology, which help them to maximize the Africa medical devices market share in this region. Although limited infrastructure, lack of physicians, and restricted funding and reimbursement policy are the restraints factor for the growth of the market.
Any instrument, apparatus, implement, implant, reagent that is used for human beings, for diagnosis, detecting, restoring, correcting, prevention, monitoring, treatment of disease and injury are known as medical devices. Technological advancement plays an important role in the growth of any sector. Most of the market players play an important role to develop the market of Africa medical devices research and development in Africa. For instance, in 2015, Elekta and ministry of health working together in almost a dozen African nations to develop their radiation therapy infrastructures for curing lives.
Africa Medical Devices Market Players
The Africa Medical Devices Market players are Johnson & Johnson (U.S.), Mindray Medical International Limited (China), Koninklijke Philips Electronics NV (Netherlands), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan), GE Healthcare (U.K), Medtronic Public Limited (U.S.), Baxter International Inc. (U.S.), Cardinal Health, Inc. (U.S.), Saudi Pharmaceutical Industries & Medical Appliances Corporation (Africa), and Al Faisaliah Medical Systems (Africa)
Segmental Analysis
The demand for African medical devices has been segmented based on a product category containing tracking devices, diagnostic devices, molecular diagnostic devices, drug delivery devices, surgical devices, bioimplants and relaxation devices, automation and robotics, and others.
The industry is segmented into general medicine, medical imaging, gastrointestinal, orthopaedics, pulmonary, dental, neurology, ophthalmology, ear-nose-throat (ENT), nephrology among urology, and others based on clinical use.
outpatient and home market are segmented on the basis of end customers, segmented hospitals.
Regional Overview
Africa's healthcare system is split between the private and state sectors. In 2014, public health funding accounted for about 48% of all health spending, with differences in various countries. Local production reflects a weak view that is confined to consumables and ordinary goods, and there are a couple of suppliers of high-tech devices. Africa is heavily dependent on medical device imports, and imports account for nearly 90 percent of the global medical device industry, and Chinese manufacturers of medical devices dominate the scenario. Among Africa's regions, South Africa, and Egypt account for 40% of the market. Nigeria, Morocco, and Algeria are other important nations. Collaboration and technological transfer with major global corporations will remain the key strategy for expanding the regional African sector, as can be seen in China's example. The United States leads the South African industry in the fields of orthopaedics, consumables, prosthetics, and patient assistance. However, most consumers of medical equipment are hunting for Asian countries to cut prices.
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