Africa Medical Devices Market Size Is Expected to Reach USD 7.06 Billion With a CAGR of 6.3 % By 2023 | Top Players: Siemens Ltd, Medtronic, GE Healthcare

Africa Medical Devices Market Size Is Expected to Reach USD 7.06 Billion With a CAGR of 6.3 % By 2023 | Top Players: Siemens Ltd, Medtronic, GE Healthcare

“Africa Medical Devices Market”
Africa Medical Devices Market Analysis By Type (Monitoring Devices, Diagnostic Devices, Molecular Diagnostic Devices, Drug Delivery Devices, Surgical Devices), Top Companies, Business Opportunities and Segmentation, Forecast To 2023

Africa Medical Devices Market size is expected to reach USD 7.06 billion with a CAGR of 6.3 % By 2023Medical Devices are instruments or appliances, including any software, biologic, or non-biologic materials that are used for the diagnostic or therapeutic use for the treatment of diseases and disorders. The African regional market presents both opportunities and challenges, consisting of the socioeconomic factor that the consumer base in Africa has an unbalanced number of young people, and the rising middle-class consumers. The countries that are most populated with the middle class are Egypt, South Africa, Algeria, Nigeria, and Morocco.

The other influential drivers of the African medical device market are the increasing cost of healthcare, which has encouraged the development of innovative electronic products such as wearable medical devices. it has also improved the demand for early detection and noninvasive medical therapies, the growing awareness, and implementation of information technology, the development of user-friendly tools, among others.

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The most hindering factor to the market is the low per capita income and the poor infrastructure of Africa. Although, advancements in the healthcare sector and government expenditure can provide improvement and growth for the healthcare industry, providing consumers with proper medical facilities.

The other restricting factors are the low access to medical devices in Africa, the high expenditure involved in imported medical devices and high sales tariffs, challenging regulatory framework, and differential connectivity in regions of Africa. Furthermore, political turmoil, the weak African currencies, and their dependence on primary exports, particularly mining, are economic threats to the medical devices market. While technological advancements and product development remain healthy market strategies for medical devices, the cost sensitivities of African market needs to be taken into consideration and worked upon, along with the development of durable biocompatible materials, growth of mobile healthcare application strategies, and cloud integration.

Africa Medical Devices Market Key Players:

The key players in the African medical devices market are

Siemens Ltd, Koninklijke Philips Electronics NV., Mindray Medical International Limited, Toshiba Medical Systems Corporation, Medtronic, GE Healthcare, Johnson & Johnson

Africa Medical Devices Market Segmental Analysis:

Africa medical devices market has been segmented on the basis of

• product type
• therapeutic application
• end-user
• region

Based on product type, the Africa medical devices market has been segmented into

• monitoring devices
• diagnostic devices
• molecular diagnostic devices
• drug delivery devices
• surgical devices
• bio-implants
• stimulation devices
• automation and robotics

Based on therapeutic application, the Africa medical devices market has been segmented into

• diagnostic imaging
• general surgery
• respiratory
• cardiovascular
• neurology
• orthopedics
• ophthalmology
• dental
• ear-nose-throat (ENT)
• nephrology
• urology

Based on end users, the Africa medical devices market is segmented hospitals, ambulatory, and home. Among these, the home segment has the leading market share followed by the ambulance segment, and then hospitals segment.

Africa Medical Devices Market Regional Analysis

The healthcare sector of Africa is divided between private and state. The public healthcare expenditure accounts for approximately half of the total health expenditure. The local manufacturing represents a weak viewpoint, which is limited to consumables and ordinary objects and the presence of limited high-tech devices manufacturers.

Africa is hugely dependent on imports for medical devices, and imports account for approximately 90% of the total market expenditure for medical devices with Chinese medical device suppliers dominating the scenario. Among the nations of Africa, South Africa, and Egypt account for 40% of the market share and are estimated to contribute significantly to the market over the forecast period. Other notable contributors to the market are Nigeria, Morocco, and Algeria.

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