Africa Medical Devices Market Size 2020, Global Industry Trends, Regional Analysis, Growth, Share and by Top Companies Forecast Data 2027

Market Research Future Insights

According to market research future insights analysis, 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 %.

Africa offers unique chances and difficulties compared to the rest of the world. Due to the disproportionately high proportion of youth in Africa, a client base is guaranteed thanks to socioeconomic causes. In comparison to Europe, where the workforce is anticipated to decline from 63% in 2010 to 51% in 2050, according to estimates, 62% of Africans are under the age of 25. The second driver is the expansion of Africa’s middle class. South Africa, Nigeria, Algeria, Egypt, and Morocco have the largest populations of middle-class people. However, there are also substantial obstacles. The continent of Africa’s weak infrastructure, poor connection, and low per capita income present the biggest obstacles. Although there is a sizable middle class in Africa, around 60% of the population lives on less than $2 per day. Two things should be noticed as a result. The market for medical devices in Africa is highly price sensitive, and opportunities exist for products with lower prices and fewer features to dominate the market. Local manufacturing has a dismal future because it is only capable of producing consumables and common items, with only a few companies producing high-tech products. The market for medical equipment in Africa is heavily reliant on imports, with Chinese providers dominating the industry and imports making up about 90% of the total market. South Africa and Egypt account for 40% of the market in Africa, thanks to increasing investment for development and growing cooperation among important companies. Nigeria, Morocco, and Algeria are further significant countries. As can be seen from the example of China, collaboration with major multinational corporations and technical transfer will continue to be the fundamental strategies for developing the regional African market.

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Market Segmentation

The Africa medical devices market has been segmented into product type, and end user.

Based on product type, the global market has been divided into monitoring devices, diagnostic devices, diagnostic molecular devices, drug delivery devices, surgical devices, bio implants and stimulation devices, and automation and robotics. Due to a high level of technological adoption by significant market participants, the diagnostics and monitoring devices category is anticipated to lead the market for smart medical devices in 2021. The expansion of this market sector is mostly caused by the rise in non-communicable diseases (NCDs) across Africa.

Based on application, the market has been bifurcated into therapeutic application, general surgery, diagnostic imaging, respiratory, orthopedics, cardiovascular, dental, neurology, ophthalmology, ear-nose-throat (ENT), and nephrology and urology. In 2021, the market for neurology devices is anticipated to experience the highest CAGR during the forecast period. Hospital-acquired infection rates are increasing, and new products being developed by market players are expected to fuel market expansion.

Based on end-user, the market has been segmented into hospitals and ambulatory and home. Because of the growing elderly population and the prevalence of chronic diseases, the home care segment is anticipated to dominate the market for smart medical devices in 2021. The growing population, particularly the millennial generation, has an increased awareness of health and hygiene, which has increased the demand for household care. The market demand for household care has been further driven by the rapidly expanding middle-class population.

Key Players

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

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