Market Insights Health Medical Technology Medical Devices

Other Medical Devices - South Africa

South Africa

South Africa's Other Medical Devices market market is anticipated to achieve a revenue of US$1.02bn in 2024.
This projection indicates a promising growth trajectory for the market.
Over the period of 2024 to 2028, the market is expected to exhibit a Compound Annual Growth Rate (CAGR) of 4.15%, leading to a market volume of US$1.20bn by 2028.
When comparing the revenue generated globally, it is noteworthy that the United States will dominate the market with a staggering revenue of US$73,490.00m in 2024.
This highlights the significant market presence and potential of the United States in this sector.
The demand for other medical devices in South Africa is growing rapidly due to advancements in healthcare infrastructure and an aging population.

Key regions: United Kingdom, Netherlands, Japan, United States, Europe

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Analyst Opinion

The Other Medical Devices market in South Africa has been experiencing significant growth in recent years.

Customer preferences: Customers in South Africa are increasingly seeking out other medical devices that offer advanced technology and improved patient outcomes. They are looking for devices that are easy to use, portable, and provide accurate results. Additionally, there is a growing demand for devices that are cost-effective and can be used in both urban and rural areas.

Trends in the market: One of the key trends in the Other Medical Devices market in South Africa is the increasing adoption of telemedicine and remote monitoring devices. These devices allow healthcare professionals to remotely monitor patients' vital signs and provide real-time feedback, reducing the need for in-person consultations and improving access to healthcare in remote areas. Another trend in the market is the growing focus on home healthcare devices. With the rising cost of healthcare and an aging population, more individuals are opting for home-based care. This has led to an increased demand for devices such as glucose meters, blood pressure monitors, and respiratory devices that can be used at home.

Local special circumstances: South Africa has a high burden of chronic diseases such as diabetes, hypertension, and cardiovascular diseases. This has created a significant demand for devices that can help manage these conditions. Additionally, the country has a large rural population with limited access to healthcare facilities. This has led to an increased demand for portable and easy-to-use devices that can be used in remote areas.

Underlying macroeconomic factors: The growth in the Other Medical Devices market in South Africa can be attributed to several underlying macroeconomic factors. The country has a rapidly growing middle class with increasing disposable income, which has led to an increased demand for healthcare services and products. Additionally, the government has been investing in healthcare infrastructure and implementing policies to improve access to healthcare services, which has further fueled the growth of the market. In conclusion, the Other Medical Devices market in South Africa is experiencing significant growth due to customer preferences for advanced technology and improved patient outcomes. The increasing adoption of telemedicine and home healthcare devices, as well as the high burden of chronic diseases and limited access to healthcare in remote areas, are driving the growth of the market. Furthermore, underlying macroeconomic factors such as a growing middle class and government investments in healthcare infrastructure are contributing to the expansion 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.