Market growth of USD 1967.35 Mn in revenue is forecasted for Africa-Medical Devices Market through 2023-2027
An increasing number of chronic diseases in Africa, a rising number of hospitals and clinics in Africa, and an increase in the number of CVDs in Africa are pushing the demand for the Africa-Medical Devices Market. It is estimated the market will grow at a CAGR of 7.39% between 2022 and 2027 followed by USD 1,967.35 million in revenue. Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
The market extensively covers market segmentation by end-user (hospitals and clinics, diagnostic centers, and others) and type (in-vitro diagnostics, cardiovascular devices, diagnostic equipment, dental equipment, and others).
Africa-Medical Devices Market Analysis
Navigating through the Africa-Medical Devices Market Market Drivers it has been observed the increasing number of chronic diseases in Africa to propel the market advancement in the next five years. Individuals are at risk of developing chronic diseases such as obesity, hypertension, and diabetes owing to urban lifestyles followed by an aging population which is yet another significant element that has major implications for the prevalence of chronic diseases in Africa.
When it comes to market trends, the increasing adoption of wearable medical devices is trending due to their ability to monitor and manage various health conditions, improve the quality of life, and reduce the cost of healthcare.
For instance, "an example of a wearable medical device that has gained popularity in Africa is the smart insulin pen this device is designed to assist diabetic patients in managing their insulin intake, ensuring they take the right amount of insulin at the right time intervals"
Canon Inc., CapeRay Medical Pty Ltd., Danaher Corp., DISA Life Sciences,F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, General Electric Co., Johnson and Johnson Services Inc., Koninklijke Philips NV, Lodox Systems Pty Ltd., Medtronic Plc, etc. are some of the leading companies that come with a wide range of offerings. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem.
Technavio’s recent analysis includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities, and a detailed study of the market segments of the North America-Ladder Market during the forecast period. Refer to our sample report for more insights.
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