Medical Technology - Eastern Africa

Eastern Africa

The Medical Technology market market in Eastern Africa is forecasted to achieve a revenue of US$1.56bn in 2024.
Among the various markets within the market, Medical Devices is expected to be the largest, with a projected market volume of US$1.34bn in 2024.
With an anticipated annual growth rate (CAGR 2024-2029) of 7.31%, the revenue is expected to reach a market volume of US$2.22bn by 2029.
In a global context, the United States is projected to generate the highest revenue, amounting to US$210.00bn in 2024.
Eastern Africa is witnessing a surge in the adoption of telemedicine, revolutionizing healthcare delivery in the region.

Key regions: United States, Germany, China, Japan, France

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Analyst Opinion

The Medical Technology market in Eastern Africa is experiencing significant growth and development. Customer preferences in the Medical Technology market in Eastern Africa are shifting towards more advanced and innovative products. Customers are increasingly demanding medical devices and technologies that are efficient, accurate, and easy to use. They are also seeking products that are cost-effective and accessible to a wider population. This shift in customer preferences is driven by the increasing awareness and importance of healthcare and the growing need for improved medical facilities and services in the region. Trends in the market indicate a growing demand for medical devices and technologies in Eastern Africa. The region is witnessing an increase in the number of hospitals, clinics, and healthcare facilities, leading to a higher demand for medical equipment and supplies. Additionally, there is a rise in medical tourism in the region, with patients from neighboring countries seeking advanced medical treatments and procedures in Eastern Africa. This trend is further driving the demand for medical technology in the region. Local special circumstances in Eastern Africa also contribute to the development of the Medical Technology market. The region has a large population with a high burden of disease, including infectious diseases, non-communicable diseases, and maternal and child health issues. This creates a need for advanced medical technology to diagnose, treat, and manage these health conditions. Additionally, the region has a growing middle class with increased purchasing power, leading to a higher demand for quality healthcare services and products. Underlying macroeconomic factors also play a role in the development of the Medical Technology market in Eastern Africa. The region has been experiencing steady economic growth, leading to increased investment in healthcare infrastructure and services. Governments and private investors are allocating more funds towards the healthcare sector, including the procurement of medical technology. Furthermore, advancements in technology and globalization have made medical devices and technologies more accessible and affordable, contributing to the growth of the market in Eastern Africa. In conclusion, the Medical Technology market in Eastern Africa is developing due to shifting customer preferences towards advanced and innovative products, increasing demand for medical devices and technologies, local special circumstances such as a high burden of disease and a growing middle class, and underlying macroeconomic factors including economic growth and advancements in technology. This presents opportunities for market players to cater to the growing demand and contribute to the improvement of healthcare services in the region.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.