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Redding, California - November 15, 2024

Africa Medical Devices Market to be Worth $7.14 Billion by 2031

Africa Medical Devices Market Size, Share, Forecast, & Trends Analysis by Product (IVD, Monitoring, Imaging, Drug Delivery, Surgical, Bioimplants, Stimulation), Risk Type, Application (Cardiology, General Surgery, Orthopedics) End User—Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled Africa Medical Devices Market Size, Share, Forecast, & Trends Analysis by Product (IVD, Monitoring, Imaging, Drug Delivery, Surgical, Bioimplants, Stimulation), Risk Type, Application (Cardiology, General Surgery, Orthopedics) End User—Forecast to 2031. According to this latest publication, the Africa medical devices market is expected to reach $7.14 billion by 2031, at a CAGR of 7.7% from 2024 to 2031.

The Africa medical devices market is driven by the increasing prevalence of chronic diseases coupled with geriatric populations, technological advancements in medical devices, growing awareness about advanced medical technologies, and rising initiatives to increase accessibility to treatment. However, the market is restrained by the high cost of advanced medical devices and its unregulated nature, which poses safety threats to patients.

In addition, developing healthcare infrastructure in African countries and emerging medical tourism in African countries create opportunities for market players. The market faces substantial challenges, including a shortage of skilled workforce in healthcare services and a shortage of medical devices.

The key players operating in the Africa medical devices market are Koninklijke Philips N.V. (Netherlands), GE HealthCare Technologies Inc. (U.S.), Abbott Laboratories (U.S.), Smith & Nephew Plc (U.K.), Coloplast Corp. (Denmark), Zimmer Biomet. (U.S), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Becton, Dickinson and Company. (U.S), Olympus Corporation (Japan), Johnson & Johnson Services, Inc. (U.S.), Cardinal Health. (U.S.), and Medtronic plc (Ireland).

The Africa medical devices market is segmented by Product, Risk Type, Application, End User, and Geography. The study also evaluates industry competitors and analyzes the market at the regional level.

By product, in 2024, the monitoring devices segment is expected to account for the largest share of the Africa medical devices market. The largest segment share is driven by the growing adoption of real-time diagnostic testing for the accurate diagnosis of infectious and chronic diseases, including cancer, HIV/AIDS, and diabetes. The expanding patient population with diabetes, which requires continuous glucose monitoring for effective blood sugar management, is contributing to the rising demand for glucose monitoring devices. Additionally, Point-of-Care (PoC) devices provide several advantages, such as cost efficiency, enhanced convenience for both patients and healthcare providers, reduced turnaround time for results, and improved testing quality. These factors are anticipated to drive continued market growth.

By Risk Type, in 2024, the Moderate-risk medical devices segment is expected to account for the largest share of the Africa medical devices market. Key factors driving the segment's largest share include the frequent use of devices such as syringes and wound management products, the growing elderly population, which is increasing demand for catheters, and the widespread adoption of self-pregnancy test kits. These trends are contributing to the rising adoption of moderate-risk medical devices in African markets.

By application, in 2024, the Cardiology segment is expected to account for the largest share of the Africa medical devices market. The increasing prevalence of cardiovascular diseases in the region is the primary driver behind this share. According to the World Health Organization (WHO), approximately 20 million people in Africa are affected by cardiovascular conditions. This growing patient population is driving demand for cardiological medical devices. Additionally, ongoing technological advancements in cardiology devices are further contributing to market growth.

By end user, in 2024, the hospitals and clinics segment is expected to account for the largest share of the Africa medical devices market. The increasing prevalence of chronic and other non-communicable diseases is leading to a higher volume of patient visits to hospitals. Additionally, advancements in healthcare infrastructure and the rise of medical tourism are driving market growth. According to a report by Healthcare Business Consultancy (HOSPACCX) (India) published in July 2022, the Department of Health in Africa allocated a budget of USD 4.03 billion (R62.5 billion) to the healthcare sector. These factors are expected to significantly contribute to the largest share of the segment.

This research report analyzes major geographies and provides a comprehensive analysis of the market in South Africa, Egypt, Algeria, Nigeria, Morocco, Kenya, Tunisia, Côte D’Ivoire, Tanzania, Cameroon, and the Rest of Africa.

By geography, in 2024, South Africa is expected to account for the largest share of the Africa medical devices market. The growth of the market is primarily driven by increased government funding for strengthening healthcare infrastructure across African countries, the high prevalence of chronic and infectious diseases, and South Africa's relatively high healthcare expenditure compared to other African nations. For example, according to a report by Healthcare Business Consultancy (HOSPACCX) (India) published in July 2022, the South African government allocated USD 1.33 billion (R20.6 billion) under the Medium Term Expenditure Framework (MTEF) for the renovation of healthcare facilities. This investment is expected to drive the increased adoption of medical devices across these facilities, contributing to the largest share of the segment.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6102

Key questions answered in the report-

Which are the high-growth market segments in terms of product, risk type, application, end user, and region/country?
What was the historical market size for the Africa medical devices market globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the Africa medical devices market?
Who are the major players in the Africa medical devices market?
What is the competitive landscape like and who are the market leaders in the Africa medical devices market?
What are the recent developments in the Africa medical devices market?
What are the different strategies adopted by the major players in the Africa medical devices market?
What are the geographical trends and high-growth countries?

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Redding, California - November 15, 2024

Africa Medical Devices Market to be Worth $7.14 Billion by 2031

Africa Medical Devices Market Size, Share, Forecast, & Trends Analysis by Product (IVD, Monitoring, Imaging, Drug Delivery, Surgical, Bioimplants, Stimulation), Risk Type, Application (Cardiology, General Surgery, Orthopedics) End User—Forecast to 2031

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