Medical devices market analysis outlooks 2022: Market size of the historic period(2017 to 2021), Market size of the forecast period (2023-2027), Growth rate | Technavio

NEW YORK, July 25, 2023 /PRNewswire/ -- The medical devices market in Africa is estimated to grow at a CAGR of 7.39% between 2022 and 2027. The market size is forecast to increase by USD 1,967.35 million. South Africa has one of the largest medical device markets in Africa. With a population exceeding 58 million, the demand for medical equipment and devices is constantly growing. The South African medical device market is diverse and includes domestic and foreign manufacturers. The rising number of healthcare systems is one factor contributing to the growth of the medical devices market in South Africa. For comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Vendor Landscape

The medical devices market in Africa is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Drivers & Challenges

The increase in chronic diseases in Africa is a key factor driving market growth. The adoption of urban lifestyles is a major factor contributing to the increasing prevalence of chronic conditions in the region. As people adopt these urban lifestyles, they face higher risks of developing chronic diseases like obesity, hypertension, and diabetes. Consequently, the rise in non-communicable diseases (NCDs) is anticipated to drive the demand for medical devices in Africa during the forecast period.

The high cost of medical devices is a significant challenge restricting market growth. This is a result of inadequate regulatory frameworks, high import duties, and a lack of local output. For instance, most medical devices used in hospitals and clinics in Africa are imported from Europe, Asia, and North America, their costs are higher due to import taxes, transportation expenses, and currency exchange rates. Hence, the above factors are expected to restrict market growth during the forecast period.

Major Trends

The increase in the adoption of wearable medical devices is a major trend in the market. The prevalence of chronic illnesses, including diabetes, hypertension, and CVD is a major reason for the market growth. Due to their capacity to manage a variety of health issues, enhance the quality of life, and save healthcare costs, these devices are becoming more popular. Hence, the increase in the adoption of wearable medical devices is expected to drive the medical device market growth in Africa.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The medical devices market in Africa report includes information on the product launches, sustainability, and prospects of leading vendors including Becton Dickinson and Co., Boston Scientific Corp., Canon Inc., CapeRay Medical Pty Ltd., Danaher Corp., DISA Life Sciences, F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, Gabler Medical UK Ltd., General Electric Co., Johnson and Johnson Services Inc., Koninklijke Philips NV, Lodox Systems Pty Ltd., Medtronic Plc, Mindray Biomedical Electronics Co. Ltd, Olympus Corp., Siemens AG, Sinapi Biomedical, Stryker Corp., TiTaMED, and Zimmer Biomet Holdings Inc.

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Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

 Market Segmentation

The market is segmented by end-user (hospitals and clinics, diagnostic centers, and others) and type (in-vitro diagnostics, cardiovascular devices, diagnostic equipment, dental equipment, and others). 

• The market share growth by the hospitals and clinics segment will be significant during the forecast period. Healthcare and clinic services in the medical device market are essential for the advancement of healthcare in Africa. As Africa has a very diverse and complicated healthcare system, which creates a significant barrier to quality healthcare for many patients. Telemedicine is a prime example of healthcare and clinical services in the African medical device market. This allows patients to receive medical advice and services remotely without having to visit a hospital or clinic.

Related Reports 

The pediatric medical devices market is estimated to grow at a CAGR of 8.84% between 2022 and 2027. The size of the market is forecast to increase by USD 15.01 billion. Furthermore, this report extensively covers market segmentation by end-user (hospitals, pediatric clinics, and others), product (in vitro diagnostic devices, cardiology devices, anesthesia and respiratory care devices, neonatal ICU devices, and others), and Geography (North America, Asia, Europe, and Rest of World (ROW)). The increasing prevalence of preterm birth is notably driving the demand for pediatric medical devices during the forecast period. 

The global diagnostic wearable medical devices market size is estimated to grow by USD 7,333.3 million at a CAGR of 15.2% between 2022 and 2027. Furthermore, this market is segmented into the application segment is further divided into home healthcare, sports and fitness, and remote patient monitoring. the device segment is classified into vital signs monitors, sleep and activity monitors, fetal and obstetric monitoring devices, neuromonitoring devices, and ECG monitors, and the geography segment includes key regions such as North America, Europe, Asia, and the Rest of the World (ROW)). The increased need for cost-effective diagnosis is driving the market growth during the forecast period.

Table Of Contents 

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Africa: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ million)

4 Historic Market Size

• 4.1 Medical devices market in Africa 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on medical devices market in Africa 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 22: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 29: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 30: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 31: Chart on Comparison by End-user
• Exhibit 32: Data Table on Comparison by End-user

• 6.3 Hospitals and clinics - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Data Table on Hospitals and clinics - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Chart on Hospitals and clinics - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Hospitals and clinics - Year-over-year growth 2022-2027 (%)

• 6.4 Diagnostic centers - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Diagnostic centers - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Data Table on Diagnostic centers - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Chart on Diagnostic centers - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Diagnostic centers - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027 
• Exhibit 41: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 42: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by End-user 
• Exhibit 45: Market opportunity by End-user ($ million)
• Exhibit 46: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 47: Chart on Type - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 49: Chart on Comparison by Type
• Exhibit 50: Data Table on Comparison by Type

• 7.3 In-vitro diagnostics - Market size and forecast 2022-2027 
• Exhibit 51: Chart on In-vitro diagnostics - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on In-vitro diagnostics - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on In-vitro diagnostics - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on In-vitro diagnostics - Year-over-year growth 2022-2027 (%)

• 7.4 Cardiovascular devices - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Cardiovascular devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Cardiovascular devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Cardiovascular devices - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Cardiovascular devices - Year-over-year growth 2022-2027 (%)

• 7.5 Diagnostic equipment - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Diagnostic equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Diagnostic equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Diagnostic equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Diagnostic equipment - Year-over-year growth 2022-2027 (%)

• 7.6 Dental equipment - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Dental equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Dental equipment - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Dental equipment - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Dental equipment - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 67: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Type 
• Exhibit 71: Market opportunity by Type ($ million)
• Exhibit 72: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 74: Chart on Market share by geography - 2022-2027 (%)
• Exhibit 75: Data Table on Market share by geography - 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 76: Chart on Geographic comparison
• Exhibit 77: Data Table on Geographic comparison

• 9.3 South Africa - Market size and forecast 2022-2027 
• Exhibit 78: Chart on South Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Data Table on South Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Chart on South Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 81: Data Table on South Africa - Year-over-year growth 2022-2027 (%)

• 9.4 Egypt - Market size and forecast 2022-2027 
• Exhibit 82: Chart on Egypt - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Data Table on Egypt - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Chart on Egypt - Year-over-year growth 2022-2027 (%)
• Exhibit 85: Data Table on Egypt - Year-over-year growth 2022-2027 (%)

• 9.5 Nigeria - Market size and forecast 2022-2027 
• Exhibit 86: Chart on Nigeria - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Data Table on Nigeria - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Chart on Nigeria - Year-over-year growth 2022-2027 (%)
• Exhibit 89: Data Table on Nigeria - Year-over-year growth 2022-2027 (%)

• 9.6 Kenya - Market size and forecast 2022-2027 
• Exhibit 90: Chart on Kenya - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Data Table on Kenya - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Chart on Kenya - Year-over-year growth 2022-2027 (%)
• Exhibit 93: Data Table on Kenya - Year-over-year growth 2022-2027 (%)

• 9.7 Rest of Africa - Market size and forecast 2022-2027 
• Exhibit 94: Chart on Rest of Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Data Table on Rest of Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Chart on Rest of Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 97: Data Table on Rest of Africa - Year-over-year growth 2022-2027 (%)

• 9.8 Market opportunity by geography 
• Exhibit 98: Market opportunity by geography ($ million)
• Exhibit 99: Data Table on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 100: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 101: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 102: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 103: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 104: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 105: Matrix on vendor position and classification

• 12.3 Becton Dickinson and Co. 
• Exhibit 106: Becton Dickinson and Co. - Overview
• Exhibit 107: Becton Dickinson and Co. - Business segments
• Exhibit 108: Becton Dickinson and Co. - Key news
• Exhibit 109: Becton Dickinson and Co. - Key offerings
• Exhibit 110: Becton Dickinson and Co. - Segment focus

• 12.4 Boston Scientific Corp. 
• Exhibit 111: Boston Scientific Corp. - Overview
• Exhibit 112: Boston Scientific Corp. - Business segments
• Exhibit 113: Boston Scientific Corp. - Key news
• Exhibit 114: Boston Scientific Corp. - Key offerings
• Exhibit 115: Boston Scientific Corp. - Segment focus

• 12.5 Canon Inc.
• Exhibit 116: Canon Inc. - Overview
• Exhibit 117: Canon Inc. - Business segments
• Exhibit 118: Canon Inc. - Key offerings
• Exhibit 119: Canon Inc. - Segment focus

• 12.6 Danaher Corp.
• Exhibit 120: Danaher Corp. - Overview
• Exhibit 121: Danaher Corp. - Business segments
• Exhibit 122: Danaher Corp. - Key news
• Exhibit 123: Danaher Corp. - Key offerings
• Exhibit 124: Danaher Corp. - Segment focus

• 12.7 F. Hoffmann La Roche Ltd. 
• Exhibit 125: F. Hoffmann La Roche Ltd. - Overview
• Exhibit 126: F. Hoffmann La Roche Ltd. - Business segments
• Exhibit 127: F. Hoffmann La Roche Ltd. - Key news
• Exhibit 128: F. Hoffmann La Roche Ltd. - Key offerings
• Exhibit 129: F. Hoffmann La Roche Ltd. - Segment focus

• 12.8 Fresenius SE and Co. KGaA 
• Exhibit 130: Fresenius SE and Co. KGaA - Overview
• Exhibit 131: Fresenius SE and Co. KGaA - Business segments
• Exhibit 132: Fresenius SE and Co. KGaA - Key news
• Exhibit 133: Fresenius SE and Co. KGaA - Key offerings
• Exhibit 134: Fresenius SE and Co. KGaA - Segment focus

• 12.9 General Electric Co.
• Exhibit 135: General Electric Co. - Overview
• Exhibit 136: General Electric Co. - Business segments
• Exhibit 137: General Electric Co. - Key news
• Exhibit 138: General Electric Co. - Key offerings
• Exhibit 139: General Electric Co. - Segment focus

• 12.10 Johnson and Johnson Services Inc. 
• Exhibit 140: Johnson and Johnson Services Inc. - Overview
• Exhibit 141: Johnson and Johnson Services Inc. - Business segments
• Exhibit 142: Johnson and Johnson Services Inc. - Key news
• Exhibit 143: Johnson and Johnson Services Inc. - Key offerings
• Exhibit 144: Johnson and Johnson Services Inc. - Segment focus

• 12.11 Koninklijke Philips NV 
• Exhibit 145: Koninklijke Philips NV - Overview
• Exhibit 146: Koninklijke Philips NV - Business segments
• Exhibit 147: Koninklijke Philips NV - Key news
• Exhibit 148: Koninklijke Philips NV - Key offerings
• Exhibit 149: Koninklijke Philips NV - Segment focus

• 12.12 Medtronic Plc
• Exhibit 150: Medtronic Plc - Overview
• Exhibit 151: Medtronic Plc - Business segments
• Exhibit 152: Medtronic Plc - Key news
• Exhibit 153: Medtronic Plc - Key offerings
• Exhibit 154: Medtronic Plc - Segment focus

• 12.13 Mindray Bio medical Electronics Co. Ltd 
• Exhibit 155: Mindray Bio medical Electronics Co. Ltd - Overview
• Exhibit 156: Mindray Bio medical Electronics Co. Ltd - Product / Service
• Exhibit 157: Mindray Bio medical Electronics Co. Ltd - Key offerings

• 12.14 Olympus Corp.
• Exhibit 158: Olympus Corp. - Overview
• Exhibit 159: Olympus Corp. - Business segments
• Exhibit 160: Olympus Corp. - Key news
• Exhibit 161: Olympus Corp. - Key offerings
• Exhibit 162: Olympus Corp. - Segment focus

• 12.15 Siemens AG
• Exhibit 163: Siemens AG - Overview
• Exhibit 164: Siemens AG - Business segments
• Exhibit 165: Siemens AG - Key news
• Exhibit 166: Siemens AG - Key offerings
• Exhibit 167: Siemens AG - Segment focus

• 12.16 Stryker Corp.
• Exhibit 168: Stryker Corp. - Overview
• Exhibit 169: Stryker Corp. - Business segments
• Exhibit 170: Stryker Corp. - Key news
• Exhibit 171: Stryker Corp. - Key offerings
• Exhibit 172: Stryker Corp. - Segment focus

• 12.17 Zimmer Biomet Holdings Inc. 
• Exhibit 173: Zimmer Biomet Holdings Inc. - Overview
• Exhibit 174: Zimmer Biomet Holdings Inc. - Business segments
• Exhibit 175: Zimmer Biomet Holdings Inc. - Key news
• Exhibit 176: Zimmer Biomet Holdings Inc. - Key offerings
• Exhibit 177: Zimmer Biomet Holdings Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 178: Inclusions checklist
• Exhibit 179: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 180: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 181: Research methodology
• Exhibit 182: Validation techniques employed for market sizing
• Exhibit 183: Information sources

• 13.5 List of abbreviations
• Exhibit 184: List of abbreviations

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