Africa Medical Devices Market – Overview
The Africa Medical Devices market is growing with a steady pace; mainly due to the rapidly growing middle income group, increasing healthcare expenditure, increasing number of medical tourists, proliferation of hospitals, government programs and support, and increasing incidence of life style diseases. Moreover rising economic growth also drive the market in this region. According to the World Bank Group, in 2016, GDP of the Middle East & North Africa experienced the growth in GDP by 4.89%. It is expected that Africa’s macroeconomic climate over the next decade will expand the health care gap, as higher incomes will create new demand for the medical devices market.
Johnson & Johnson (U.S.), Mindray Medical International Limited (China), Koninklijke Philips Electronics NV (Netherlands), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan), GE Healthcare (U.K), Medtronic Public Limited (U.S.), Baxter International Inc. (U.S.), Cardinal Health, Inc. (U.S.), Saudi Pharmaceutical Industries & Medical Appliances Corporation (Africa), and Al Faisaliah Medical Systems (Africa) are some of the leading players at the cutting edge of the competition in the Africa Medical Devices Market share
Any instrument, apparatus, implement, implant, reagent that is used for human beings, for diagnosis, detecting, restoring, correcting, prevention, monitoring, treatment of disease and injury are known as medical devices. Technological advancement plays an important role in the growth of any sector. Most of the market players play an important role to develop the market of medical devices research and development in Africa. For instance, in 2015, Elekta and ministry of health working together in almost a dozen African nations to develop their radiation therapy infrastructures for curing lives.
Africa Medical Devices Market Players
- Mindray Medical International Limited
- Koninklijke Philips Electronics NV.
- Siemens Ltd
- Toshiba Medical Systems Corporation
- GE Healthcare
- Johnson & Johnson
among others are some key companies in the Africa Medical Devices that are listed by MRFR for market research.
Africa Medical Devices Market - Regional Analysis
Most of the major players such as Johnson & Johnson (U.S.), Mindray Medical International Limited (China), Koninklijke Philips Electronics NV (Netherlands), Siemens AG (Germany), Toshiba Medical Systems Corporation (Japan), GE Healthcare (U.K), Medtronic Public Limited (U.S.), Baxter International Inc. (U.S.), Cardinal Health, Inc. (U.S.), Saudi Pharmaceutical Industries & Medical Appliances Corporation (Africa), and Al Faisaliah Medical Systems (Africa) are looking forward in this region to minimize the gap of between demand and supply of advance medical devices and maximize the profit sharing ration. Company such as Koninklijke Philips Electronics NV, Siemens AG, Medtronic Public Limited, and GE Healthcare have already a huge presence in Africa region owing to the collaboration they made and strategy of expanding their sales network within the region. The markets of Africa region are very different and still shaping and growing. Although most of the products are imported within the region, but the government is focusing to develop these equipment in their premises to minimize the cost of medical devices.
The market of medical devices is growing rapidly in Africa region owing to upgrade of hospitals, introduction of health insurance policy, and rapidly growing middle income group. Government is focussing more to improve the life of their citizen, thus they are more focusing on the establishment of best hospitals in the region. This region are more focusing towards new technology and advance treatment option, thus the local players are focusing more into mergers and acquisition and research and development programs for the development of Medical devices. These are the factors which are fuelling the growth of the market of medical devices with the significant rates in this region.
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