New Medical Devices research report from Espicom Business Intelligence is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 09/17/2013 -- OVERVIEW OF THE MEDICAL MARKET IN EGYPT
The new cabinet announced in Egypt shows few signs of reconciliation with supporters of the ousted government, and will do little to end the polarised state of the country's political scene. BMI does not expect the interim government to make any major economic reforms, but they will be eager to improve social stability in order to attain legitimacy. BMI expects parliamentary elections to be held by February 2014, with presidential elections following soon after.
The private sector is experiencing a period of considerable growth, as Egyptians look for alternatives to declining standards in the public sector. BMI Espicom estimates that Egypt is spending 4.8% of GDP on healthcare in 2013, equal to US$11.8bn. Around 41.2% of the total is publicly sourced, while the remaining 58.8% is privately sourced.
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The Egyptian medical device market is the sixth largest in the Middle East & Africa, but per capita consumption is very low by regional and world standards. Low per capita medical device expenditure indicates the enormous potential of this market in the long term. Opportunities exist for medical companies to increase sales and market share. In 2013, the market is estimated at US$484.7mn, equal to US$5.7 per capita. The 2013-2018 CAGR is projected at 11.8%. Egypt produces very little medical
equipment, so the vast majority of the market is supplied by imports, particularly from Germany, the Netherlands, the USA, China and Japan.
Medical device imports increased by 19.8% in the 12 months up to March 2013, compared to the same period the previous year, rising to US$509.0mn. Orthopaedic & prosthetic products increased the most, by 41.2%, to stand at US$36.3mn, followed by consumables which grew by 26.6% to US$92.6mn. Patient aids experienced growth of 18.7% to reach US$48.0mn, while diagnostic imaging apparatus, the largest sector, increased by 15.9% to US$157.4mn. Meanwhile, dental products comprised the only product area to experience a contraction, falling by 1.1% to US$25.5mn.
PROVIDING STRATEGIC MARKET ANALYSIS EVERY MONTH
Espicom's highly-regarded world medical technology and device market research reports provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the medical equipment market in context. The reports provide:
Unique projected estimates of market size and growth for 33 equipment categories
Five year statistical data for key economic and healthcare indicators
Information on regulation, distribution and market access, including Espicom's unique distributor directory
Detailed Medical trade data
Data on leading local/multinational medical equipment players in the market
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