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Orthopedic Devices - Mauritius

Mauritius

The Orthopedic Devices market market in Mauritius is anticipated to experience a significant growth in revenue, reaching a projected value of US$9.91m in 2024.
This translates to an estimated annual growth rate (CAGR 2024-2029) of 8.21%, leading to a market volume of US$14.70m by 2029.
When compared to the global market, it is important to note that the United States is expected to generate the highest revenue, amounting to a staggering US$16,020.00m in 2024.
Mauritius is experiencing a growing demand for orthopedic devices due to an aging population and an increase in sports-related injuries.

Key regions: France, Netherlands, Europe, Germany, Japan

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Analyst Opinion

The Orthopedic Devices market in Mauritius is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in Mauritius are increasingly seeking high-quality orthopedic devices to address various musculoskeletal conditions. They are looking for products that provide effective treatment and long-term durability. Additionally, customers are becoming more aware of the importance of personalized and customized solutions that cater to their specific needs. They prefer devices that are comfortable, easy to use, and provide optimal support and mobility.

Trends in the market: One of the major trends in the Orthopedic Devices market in Mauritius is the increasing demand for joint replacement surgeries. The aging population, coupled with the rising prevalence of chronic diseases such as osteoarthritis, is driving the need for hip and knee replacements. This trend is expected to continue as the population continues to age. Another trend in the market is the growing adoption of minimally invasive surgical techniques. These techniques offer several advantages, including shorter recovery times, reduced post-operative pain, and smaller incisions. As a result, there is a growing demand for orthopedic devices that are specifically designed for minimally invasive procedures.

Local special circumstances: Mauritius is a small island nation with limited manufacturing capabilities. As a result, the market heavily relies on imports for orthopedic devices. This dependency on imports can impact the availability and affordability of these devices in the market. However, the government has implemented policies to encourage local manufacturing and reduce the reliance on imports, which could positively impact the market in the future.

Underlying macroeconomic factors: The overall economic growth and development in Mauritius are contributing to the growth of the Orthopedic Devices market. The country has witnessed a steady increase in per capita income, which has led to an increase in healthcare expenditure. This, in turn, has resulted in increased accessibility and affordability of orthopedic devices for the population. Additionally, the government's focus on healthcare infrastructure development and the implementation of universal healthcare coverage have further fueled the demand for orthopedic devices. In conclusion, the Orthopedic Devices market in Mauritius is experiencing growth and development due to customer preferences for high-quality and personalized solutions, the increasing demand for joint replacement surgeries, and the adoption of minimally invasive surgical techniques. The market is also influenced by local special circumstances, such as the reliance on imports and government policies to encourage local manufacturing. The underlying macroeconomic factors, including economic growth, increasing healthcare expenditure, and healthcare infrastructure development, are further driving the growth of the market.

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.