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Africa Medical Devices Market by Size, Share, Growth Trends, Revenue, Top Companies, Regional Outlook, and Forecast to 2023

Dec 31, 2020 8:16 AM ET

Market Overview

the Africa medical devices market 2020 to reach around USD 7.06 billion by the end of the review period at a CAGR of 6.3%.

Market Highlights

Africa presents opportunities as well as difficulties that are very different from the rest of the world. As Africa has a disproportionate number of young people, the socio-economic drivers include a guaranteed customer base. The African medical device market is very price sensitive and the possibilities for lower-cost devices and features to dominate the segment lie at the lower end. The first advantage of the mover is everything, as the market leader is extremely difficult to dislodge because of the lower profit margin on low-cost devices and the smaller customer base. Thus, due to high switching costs and low rivals, the company that will dominate the market first will have a stranglehold on the market. The macroeconomic climate of Africa is expected to widen the health care gap over the next decade, as higher incomes will generate new demand for the medical device market. In addition, certain laws are also introduced by the government to maintain the quality of medical devices.

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Africa presents opportunities as well as difficulties that are very different from the rest of the world. As Africa has a disproportionate number of young people, the socio-economic drivers include a guaranteed customer base. The African medical device market is very price sensitive and the possibilities for lower-cost devices and features to dominate the segment lie at the lower end. The first advantage of the mover is everything, as the market leader is extremely difficult to dislodge because of the lower profit margin on low-cost devices and the smaller customer base. Thus, due to high switching costs and low rivals, the company that will dominate the market first will have a stranglehold on the market. The macroeconomic climate of Africa is expected to widen the health care gap over the next decade, as higher incomes will generate new demand for the medical device market. In addition, certain laws are also introduced by the government to maintain the quality of medical devices are factors restraining the growth of the market. 

Segmental Analysis

The demand for African medical devices has been segmented on the basis of 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 on the basis of 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.

Competitive Landscape

Some of the key players in this market are Koninklijke Philips Electronics NV., Mindray Medical International Limited, Siemens Ltd, Toshiba Medical Systems Corporation, Medtronic, GE Healthcare, Johnson & Johnson, and others.

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