We expect the Africa Medical Devices Market to reach around $ 7069.61 million from $ 4900 million in 2017, by the end of the forecast period at a CAGR of ~ 6.3 %.
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 medical devices 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.
African medical devices market is very price sensitive and opportunities lie at the lower end with devices with lower cost and features to dominate the segment. The first mover advantage is everything, as it is extremely difficult to dislodge the market leader due to lower profit margin on low cost devices and the smaller customer base. Thus the company which will dominate the market first will have a stranglehold on the market due to high switching costs and low competitors.
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Africa Medical Devices Market – Key Players
Some of the key players in this market are:
- Mindray Medical International Limited
- Koninklijke Philips Electronics NV.
- Siemens Ltd
- Toshiba Medical Systems Corporation
- GE Healthcare
- Johnson & Johnson
Africa Medical Devices Market – Segments
Africa Medical Devices Market has been segmented on the basis of product type which comprises monitoring devices, diagnostic devices, diagnostic molecular devices, drug delivery devices, surgical devices, bio implants and stimulation devices, automation and robotics and others. On the basis of therapeutic application; market is segmented into general surgery, diagnostic imaging, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, ear-nose-throat (ENT), nephrology and urology, and others. On the basis of end users; market is segmented hospitals, ambulatory and home.
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Africa Medical Devices Market – Regional Analysis
The market of medical devices is growing rapidly in Africa region owing to upgrade of hospitals, introduction of health insurance policy, and rapidly growing middle-income group. Government is focusing more to improve the life of their citizen; thus, they are more focusing on the establishment of best hospitals in the region. This region is more focusing towards new technology and advance treatment option; thus, the local players are focusing more into mergers and acquisition and research and development programs for the development of Medical devices. These are the factors which are fueling the growth of the market of medical devices with the significant rates in this region.
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