Definition:
The Medical Technology market covers devices and products used for prevention, diagnosis, and treatment of diseases. Next to pharmaceuticals, they form the most important category of medical products. The most well known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants.
Structure:
The Medical Technology market consists of two markets, In Vitro Diagnostics (IVD) and Medical Devices. The IVD market covers products used for medical laboratory testing of specimens derived from the human body. The Medical Devices market covers a broad range of products which are further marketed into medical specialties or types of application: Cardiology Devices, Diagnostic Imaging Devices, Orthopedic Devices, Ophthalmic Devices, and General & Plastic Surgery Devices. The Other Medical Devices market provides information on additional areas that are not covered by the main markets.
Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.
Company examples: Medtronic, Johnson & Johnson, Abbott Laboratories, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.
Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Mar 2024
Source: Statista Market Insights
The Medical Technology market in Eastern Africa is experiencing significant growth and development. Customer preferences in the Medical Technology market in Eastern Africa are shifting towards more advanced and innovative products. Customers are increasingly demanding medical devices and technologies that are efficient, accurate, and easy to use. They are also seeking products that are cost-effective and accessible to a wider population. This shift in customer preferences is driven by the increasing awareness and importance of healthcare and the growing need for improved medical facilities and services in the region. Trends in the market indicate a growing demand for medical devices and technologies in Eastern Africa. The region is witnessing an increase in the number of hospitals, clinics, and healthcare facilities, leading to a higher demand for medical equipment and supplies. Additionally, there is a rise in medical tourism in the region, with patients from neighboring countries seeking advanced medical treatments and procedures in Eastern Africa. This trend is further driving the demand for medical technology in the region. Local special circumstances in Eastern Africa also contribute to the development of the Medical Technology market. The region has a large population with a high burden of disease, including infectious diseases, non-communicable diseases, and maternal and child health issues. This creates a need for advanced medical technology to diagnose, treat, and manage these health conditions. Additionally, the region has a growing middle class with increased purchasing power, leading to a higher demand for quality healthcare services and products. Underlying macroeconomic factors also play a role in the development of the Medical Technology market in Eastern Africa. The region has been experiencing steady economic growth, leading to increased investment in healthcare infrastructure and services. Governments and private investors are allocating more funds towards the healthcare sector, including the procurement of medical technology. Furthermore, advancements in technology and globalization have made medical devices and technologies more accessible and affordable, contributing to the growth of the market in Eastern Africa. In conclusion, the Medical Technology market in Eastern Africa is developing due to shifting customer preferences towards advanced and innovative products, increasing demand for medical devices and technologies, local special circumstances such as a high burden of disease and a growing middle class, and underlying macroeconomic factors including economic growth and advancements in technology. This presents opportunities for market players to cater to the growing demand and contribute to the improvement of healthcare services in the region.
Most recent update: Aug 2024
Source: Statista Market Insights
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.Modeling approach / Market size:
Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights