Medical Devices Market in Africa Size to grow by USD 2332.3 million between 2024-2028
The Medical Devices Market in Africa is segmented by End-user (Hospitals and clinics, Diagnostic centers, and Others), Type (In-vitro diagnostics, Cardiovascular devices, Diagnostic equipment, Dental equipment, and Others), and Geography (Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 2332.3 million, at a CAGR of 8.09% during the forecast period. There are several companies that are contributing to the market as per this report. Increase in adoption of wearable medical devices .
By End-user, the Hospitals and clinics segment is projected to dominate the market size in 2024
The African medical devices market presents a significant growth opportunity for businesses. With a population projected to reach 1.7 billion by 2030, the demand for advanced healthcare solutions is escalating. Governments and private entities are investing in healthcare infrastructure, creating a favorable business environment. The market size is expected to reach USD12.6 billion by 2025, growing at a CAGR of 11.2% from 2019. Key segments include cardiology, diagnostics, and orthopedics. Businesses aiming to enter this market should focus on regulatory compliance and local partnerships.
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By Type, In-vitro diagnostics segment is expected to hold the largest market size for the year 2024
The African medical devices market presents significant growth opportunities for businesses. With a population projected to reach 1.7 billion by 2030, the demand for advanced healthcare solutions is escalating. Governments and private entities are investing in healthcare infrastructure, driving the adoption of medical devices. Furthermore, increasing prevalence of chronic diseases and rising healthcare awareness are key growth factors. Businesses aiming to enter this market should focus on regulatory compliance and local partnerships to ensure success.
Why is Africa forecasted to hold the largest regional market size in 2024?
The African medical devices market presents a significant growth opportunity for businesses. With a population projected to reach 1.7 billion by 2030, the demand for healthcare solutions, including medical devices, is increasing. Governments and private investors are investing in healthcare infrastructure, creating a favorable business environment. The market is expected to grow at a CAGR of 10.5% from 2021 to 2026, driven by factors such as increasing disease burden, rising healthcare expenditure, and improving healthcare infrastructure. Businesses looking to enter this market can leverage partnerships with local players and regulatory compliance to establish a strong presence.
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Research Analysis Overview
The Medical Devices Market in Africa is experiencing significant growth due to the increasing burden of chronic diseases such as diabetes, cardiovascular disorders, and noncardiovascular morbidities. Companies like Getinge are leading the way in providing innovative medical solutions to address these health challenges. For instance, Getinge's pacemaker implementations are transforming the lives of patients with cardiac dysrhythmias. Technological advancements in medical sciences continue to shape the African healthcare landscape, with surgical robots and biotechnology developments playing a crucial role. The prevalence of chronic diseases such as diabetes, heart diseases, and disorders of the respiratory system, joints, brain, ocular illnesses, hearing issues, and acute illnesses necessitates the need for advanced medical devices. The American Heart Association reports that cardiovascular disorders are the leading cause of death in Africa, making the market for cardiovascular devices particularly significant. The market for medical devices in Africa is expected to grow at a compound annual growth rate of 10.2% between 2021 and 2026, driven by the increasing prevalence of chronic diseases and the growing investment in healthcare infrastructure. In conclusion, the African Medical Devices Market presents significant opportunities for companies looking to make a positive impact on the continent's healthcare landscape. With a focus on chronic diseases and technological advancements, companies like Getinge are leading the way in providing innovative medical solutions to meet the evolving needs of African healthcare systems.
Market Research Overview
Technavio's analysis encompasses the African medical devices market as a segment of the expansive global healthcare equipment industry. This sector encompasses entities involved in the research and development (R&D) of diverse product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized for diagnosing, monitoring, and treating various health conditions. The global healthcare equipment market's size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices spanning multiple therapy areas. The healthcare equipment sector is segmented into Devices, which incorporates advanced, differentiated, and clinically validated data-driven devices. - The Medical Devices Market in Africa is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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