Medical Technology

The projected revenue in the Medical Technology market market in Egypt is expected to reach US$1.32bn in 2024.
in Egypt's largest market within the Medical Technology market industry is Medical Devices, which is projected to have a market volume of US$1.12bn in 2024.
The revenue in this market is anticipated to show an annual growth rate (CAGR 2024-2029) of 10.57%, leading to a market volume of US$2.19bn by 2029.
In comparison to other countries globally, the United States is expected to generate the highest revenue of US$211.10bn in 2024.
Egypt is experiencing a surge in demand for advanced medical technology solutions to enhance healthcare delivery.

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.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Products for laboratoy testing (IVD)
Active medical devices (i.e., operating with electrical energy)

Pharmaceuticals
Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Blood and transplants derived from the human body

The Medical Technology market in Egypt is experiencing significant growth and development. Customer preferences in the Medical Technology market in Egypt are shifting towards more advanced and innovative products. Consumers are increasingly seeking out medical devices and equipment that offer improved accuracy, efficiency, and ease of use. This is partly driven by the growing awareness and demand for better healthcare services in the country. Additionally, as the population continues to age, there is a greater need for medical technology that can address the specific health concerns of elderly individuals. Trends in the market include the adoption of digital health solutions and telemedicine. With the increasing use of smartphones and internet connectivity, there is a rising demand for mobile health applications and remote monitoring devices. These technologies enable patients to access healthcare services and monitor their health conditions from the comfort of their own homes. The COVID-19 pandemic has also accelerated the adoption of telemedicine in Egypt, as it allows for remote consultations and reduces the risk of exposure to the virus. Local special circumstances in Egypt contribute to the development of the Medical Technology market. The country has a large and growing population, which creates a significant demand for healthcare services and medical technology. Additionally, the government has been implementing initiatives to improve the healthcare infrastructure and increase access to medical services, which further drives the demand for medical technology. Furthermore, Egypt has a strong manufacturing sector, which allows for the production of medical devices and equipment domestically, reducing the reliance on imports and promoting local industry growth. Underlying macroeconomic factors also play a role in the development of the Medical Technology market in Egypt. The country has been experiencing steady economic growth in recent years, which has resulted in an increase in disposable income and healthcare spending. This allows consumers to afford more advanced medical technology and drives the market growth. Furthermore, the government has been investing in healthcare reforms and infrastructure development, which creates a favorable environment for the Medical Technology market to thrive. Overall, the Medical Technology market in Egypt is developing rapidly due to changing customer preferences, the adoption of digital health solutions, local special circumstances, and underlying macroeconomic factors. As the demand for healthcare services continues to grow, the market is expected to expand further in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.