Africa Medical Devices Market Overview
Africa Medical Devices Market Size was valued at USD 4.2 Billion in 2022. The medical devices market industry is projected to grow from USD 4.49 Billion in 2023 to USD 7.786 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.10% during the forecast period (2023 - 2032). The aging population, biotechnology developments, and rising desire for better healthcare are major drivers boosting market revenue growth. Additionally, growing demand for novel therapies to address various unmet patient needs, the rising prevalence of chronic diseases, and increasing investments in R&D by various medical technology companies are driving demand for medical devices to diagnose, treat, monitor, and manage diseases.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Medical Devices Market Trends
- Growing incidence of diseases is driving the market growth
One of the main factors fueling the growth of the Africa medical devices market CAGR is the rising prevalence of disorders. Acute and chronic illnesses, such as those affecting the heart, brain, joints, and respiratory system, are becoming more common. Ocular illnesses, hearing issues, and periodontal illnesses are becoming more common. The third-leading cause of visual impairment and the primary cause in the industrialized world is age-related macular degeneration (AMD). In addition, the aging population is expanding quickly due to the rising average life expectancy. Chronic cardiac, neurological, and orthopedic illnesses are becoming more common as a result of risk factors such as diabetes, hypertension, tobacco use, and obesity.
Furthermore, cutting-edge technologies emerge as primary market trends for medical devices, driving market expansion. Recent medical technology and equipment advancements are anticipated to greatly improve the detection and treatment of many diseases. Regenerative medicine is gaining popularity due to its potential to use tissue engineering, therapeutic stem cells, and artificial organ creation to repair or replace damaged human cells, tissues, and organs. Due to numerous benefits like a 3D vision of the operating field, minimal risk of infections, and others, a growing number of end users are adopting surgical robots. Compared to traditional and laparoscopic surgery, surgical robots provide several benefits. There are certain drawbacks to laparoscopic surgery, including the instruments' constrained range of motion and the surgeons' uncomfortable working positions. When a tissue biopsy is insufficient, impractical, or unavailable, liquid biopsy might be utilised as a backup or alternative. The process is currently crossroads between fundamental research and widespread clinical practice. However, their commercial applications are still in their infancy and are mostly restricted to enhancing treatment selection for late-stage tumors.
Additionally, medical device companies are repurposing existing manufacturing lines to produce medical goods like hand sanitizers, personal protective equipment (PPE), face masks, ventilators, etc., that are highly demanded to fight the coronavirus. For instance, AirCo, a manufacturer of alcoholic beverages, has moved the focus of its manufacturing facilities to produce hand sanitizers. Bev and Endless West, two new alcohol companies, are accelerating manufacturing. Similarly, a firm in Canada called INKSmith, which was producing creative and tech tools for children, is now producing face shields. Manufacturers of personal protective equipment (PPE) like face shields and nasal swabs for COVID-19 testing include Massachusetts-based Markforged and Formlabs. Thus, driving the medical devices market revenue.
Medical Devices Market Segment Insights
Medical Devices Product Type Insights
The Africa medical devices market segmentation, based on product type includes Monitoring Devices, Diagnostic Devices, Drug Delivery Devices, Surgical Devices, Bio Implants & Stimulation Devices and Automation & Robotics. The monitoring devices segment dominated the market due to the growing use of real-time diagnostic testing to accurately diagnose infectious and chronic diseases like cancer, diabetes, and HIV/AIDS. However, due to advancing surgical robot technology and rising use by healthcare practitioners, automation & robotics are expected to grow fastest over the next few years.
Medical Devices Therapeutic Application Insights
The Africa medical devices market segmentation, based on therapeutic application, includes General Surgery, Diagnostic Imaging, Respiratory, Orthopedics, Cardiovascular, Dental, Neurology, Ophthalmology, Ear-Nose-Throat (ENT), Nephrology and Urology. The cardiovascular category generated the most income. The key drivers of the segment's growth include increased prevalence of different cardiovascular disorders worldwide, rapid technological advancement, and increased demand for less invasive procedures. The main cause of cardiovascular death is the rising prevalence of cardiac diseases like cardiomyopathy and stroke. In the world, cardiovascular diseases are among the most common ailments.
Medical Devices End User Insights
The Africa medical devices market segmentation, based on end user, includes Hospitals, Ambulatory and Home. The hospitals category generated the most income because there are more community hospitals and multi-specialty hospitals than ever before, especially in developing nations. For instance, the Politics of Saudi Arabia estimates that by 2030, the nation will require 20,000 more hospital beds to accommodate its expanding population and to upgrade its healthcare system. Therefore, the factors above and the increasing focus of healthcare organizations and the government on creating healthcare infrastructure and the regular diagnosis and treatment of patients have increased public awareness, driving the market's growth over the forecast period.
Figure 1: Africa Medical Devices Market, by End User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Medical Devices Regional Insights
Factors like rising government efforts, increased R&D activities, and a rise in regional market participants drive the market for medical devices in Africa. The market in this nation is expanding as a result of the rising incidence of ailments like diabetes, infectious diseases, dental problems, and cardiovascular disorders, among others. The government of Africa is encouraging and providing a number of incentives for domestic medical device manufacture, which in turn may fuel market expansion generally in this nation. In addition, the government and other organizations hold conferences, symposiums, and seminars to inform the public about the high-quality, technologically sophisticated medical devices on the market. Additionally, the region's quick adoption of cutting-edge medical technology boosts market revenue growth.
Medical Devices Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the medical devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, medical devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Africa medical devices industry to benefit clients and increase the market sector. In recent years, the medical devices industry has offered some of the most significant advantages to market. Major players in the medical devices market attempting to increase market demand by investing in research and development operations include Mindray Medical International Limited, Koninklijke Philips Electronics NV., Siemens Ltd, Toshiba Medical Systems Corporation, and GE Healthcare.
Toshiba Corp. is a multifaceted company with interests in electronics, electrical equipment, and information technology. It creates, develops, manufactures, and markets storage devices, point-of-sale (POS) systems, power systems, energy-saving products and services, semiconductors, microwave semiconductors and components, tablets, semiconductor manufacturing equipment, home appliance products, transmission and distribution systems, and water treatment systems. It provides options for building, power, and other types of social infrastructure.
Medical device and solution developers, manufacturers, and marketers comprise Mindray Bio-Medical Electronics Co Ltd (Mindray). The company provides in-vitro diagnostics, among other things, as well as orthopedics, veterinary, and medical imaging systems, as well as equipment for patient monitoring and life support. Some of its main items are patient monitoring systems, ventilators, electrocardiographs, defibrillators, anesthesia equipment, surgical lights, operating tables, infusion pumps, medical supply cabinets, endoscopes, and accessories. Additionally, Mindray provides flow cytometry, mobile and digital radiography equipment, chemical analyzers, and reagents.
Key Companies in the medical devices market include
- Mindray Medical International Limited
- Koninklijke Philips Electronics NV.
- Siemens Ltd
- Toshiba Medical Systems Corporation
- GE Healthcare
Medical Devices Industry Developments
January 2023:Abbott's Proclaim XR Spinal Cord Stimulation (SCS) device has been given USFDA approval to treat painful Diabetic Peripheral Neuropathy (DPN).
January 2023:Abbott's Navitor, a cutting-edge Transcatheter Aortic Valve Implantation (TAVI) system, has been given USFDA approval to treat patients with severe aortic stenosis at high or extremely high risk for open-heart surgery.
December 2022:Abiomed, Inc. has been acquired by Johnson & Johnson Services, Inc. The acquisition sought to boost MedTech business growth and provide cutting-edge medical technologies to more people worldwide.
November 2022:A binding contract was signed by Boston Scientific Corporation and Apollo Endosurgery, Inc. Devices for Endoluminal Surgery (ELS) operations are part of the Apollo Endosurgery product portfolio.
Medical Devices Market Segmentation
Africa Medical Devices Product Type Outlook (USD Billion, 2018-2032)
- Monitoring Devices
- Diagnostic devices
- Drug delivery devices
- Surgical Devices
- Bio implants & Stimulation Devices
- Automation & Robotics
Africa Medical Devices Therapeutic Application Outlook (USD Billion, 2018-2032)
- General Surgery
- Diagnostic Imaging
- Ear-Nose-Throat (ENT)
Africa Medical Devices End User Outlook (USD Billion, 2018-2032)
Market Size 2022
USD 4.2 Billion
Market Size 2023
USD 4.49 Billion
Market Size 2032
USD 7.786 Billion
Compound Annual Growth Rate (CAGR)
Market Forecast Period
Market Forecast Units
Value (USD Billion)
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Product Type, Therapeutic Application, End User
Key Companies Profiled
Mindray Medical International Limited, Koninklijke Philips Electronics NV., Siemens Ltd, Toshiba Medical Systems Corporation, and GE Healthcare
Key Market Opportunities
Rising prevalence of chronic diseases
Key Market Dynamics
Growing customer preference for wearable devices
Frequently Asked Questions (FAQ) :
The Africa medical devices market size was valued at USD 4.2 Billion in 2022.
The market is projected to grow at a CAGR of 7.10% during the forecast period, 2023-2032.
The key players in the market are Mindray Medical International Limited, Koninklijke Philips Electronics NV., Siemens Ltd, Toshiba Medical Systems Corporation, and GE Healthcare.
The monitoring devices category dominated the market in 2022.
The hospitals category had the largest share in the market.
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