South Africa medical device market is expected to grow at a CAGR of 8.97 percent during the forecasting period 2018 - 2024 due to public-private partnerships to develop hospitals, government new health insurance schemes and growing ageing population.
Albany, NY -- (SBWIRE) -- 01/16/2018 -- The report highlights that the medical device market in South Africa is anticipated to rise at 8.87 Compound Annual Growth Rate (CAGR) in percentage over the assessment period from 2018 till 2024. The report throws light major market dynamics which covers the drivers, restraints and opportunities for the growth of the market. The new report titled "South Africa Medical Device Market" has recently been apprehended by Market Research Hub (MRH) in its extensive research repository. Looking at the growth of the market, several manufacturers in the industry are likely to stay more motivated towards such factors such as private and public collaboration to develop hospitals, growing ageing population and health insurance scheme. The report projected that the elderly citizens in South Africa will multiply until 2050 from current figure. About 90 percent of the overall market of South Africa is largely backed by the international healthcare unit. Moreover, for cutting the cost various medical device consumers are eyeing for Asian regions. For Orthopedic, prosthetics and patient aids segments, consumables, U.S. is leading in the South African regional market. The report offers relevant introduction and basic definition of the medical device market in South Africa.
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Segmental Analysis of the South Africa Medical Device Market
The report categorizes the South Africa medical device market on the basis of product type.
Account of product type, the study segregates the medical device in South Africa into dental drills, electro-diagnostic, ostomy products, accessories and imaging parts, CT scanners, fixation devices, scintigraphic apparatus, radiation apparatus, medical X-ray Film (flat), dental instruments and supplies, other product types and ultra sound. Catheter and needle and syringe is likely to lead the product type segment in South Africa medical device market, whereas the report also estimates that the its market share will anticipated to decline over the assessment period ranging from 2018 to 2024. The report also reveals that electro-diagnostic, needle, syringe and catheter are the major segments that share half of the revenue share for the overall medical device market in South Africa. Also, the report throws light on the other key segments include Radiation Apparatus, Medical X-ray Film and Dental X-ray, Supplies and Dental Instruments, and Ultra Sound contributed in a single digit share of the market in 2017.
Furthermore, the report provide the market attractiveness index for the report readers to make them understand the competitive scenario in the medical device market in South Africa along with the key findings.
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South Africa Medical Device Market: Top Players
This section of the study is fully devoted to present the competitive assessment of the South Africa medical device market. The prominent section of the report highlights the companies operating in South Africa medical device market. The key companies profiled in the report are analyzed on the basis of various attributes such as key business strategies, financial overview, product portfolio, SWOT analysis and recent development in the companies. The report provides information on the strengths, weaknesses, and opportunity analysis, enabling the new entrants to develop new plans to gain success in this marketplace along with existing players to expand their business empire.
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