What are the segmentation of 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.
Africa Medical
Devices Market Overview and Analysis by product type, therapeutic application,
end user - forecast
till 2030. The Africa medical devices
market to reach around $ 7.91 billion in 2030, by the end
of the forecast period at a CAGR of ~ 7.10 %.
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 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 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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