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JOHANNESBURG, SOUTH AFRICA, December 19, 2019 /24-7PressRelease/ -- The South Africa medical device market will register a 9.1% CAGR between 2017-2018 according to a recent Fitch Solutions report. This significant growth will raise the market to USD 1.27 bn by 2018.
A substantial portion of medical device and lab equipment exports are sent to other parts of Africa, with 12 African nations featuring in its top 20 export destinations last year.
Read the report to find out more.
Medical Devices Overview
• South Africa is one of the largest medical devices markets in the Middle East & Africa (MEA) region, similar in
size to Iran.
• Market size is supported by a large population and Africa's most industrialised economy.
• Spending on medical devices as a proportion of wealth is around average for the MEA region.
• 'Other medical devices' accounts for nearly 40% of the total market.
• As an emerging market it offers considerable potential for growth.
• National Health Insurance programme is in the early stages of implementation.
• Limited medical device production, therefore market largely dependent on imports
The South Africa medical device market will register a 9.1% CAGR between 2017-2018 according to a recent Fitch Solutions report. This significant growth will raise the market to USD 1.27 bn by 2018 with a product category breakdown that looks like this:
South Africa Medical Device Market by Product Category in 2018
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