Medical Technology - Mauritius

Mauritius

The projected revenue in the Medical Technology market market in Mauritius is expected to reach US$112.60m in 2024.
The largest market within this market is Medical Devices, with a projected market volume of US$94.91m in the same year.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 8.41%, resulting in a market volume of US$168.60m by 2029.
When compared globally, the United States is expected to generate the highest revenue, amounting to US$211.10bn in 2024.
Mauritius is emerging as a hub for medical technology innovation, attracting global investors and fostering local startups.

Key regions: United States, Germany, China, Japan, France

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Analyst Opinion

The Medical Technology market in Mauritius is experiencing significant growth and development, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Mauritius are shifting towards advanced medical technologies that can provide accurate diagnoses and effective treatment options. Patients are increasingly seeking out innovative medical devices and equipment that can improve the quality of their healthcare. This includes the demand for state-of-the-art imaging technologies, such as MRI and CT scanners, as well as advanced surgical instruments and robotic-assisted surgery systems. Furthermore, there is a growing preference for wearable medical devices and telemedicine solutions that allow patients to monitor their health remotely and consult with healthcare professionals from the comfort of their own homes. Trends in the market are also contributing to the development of the Medical Technology sector in Mauritius. One such trend is the increasing adoption of digital health technologies. The integration of electronic health records, telehealth platforms, and mobile health applications is transforming the way healthcare is delivered and managed in the country. This trend is driven by the need to improve efficiency, reduce healthcare costs, and enhance patient outcomes. Additionally, there is a growing focus on personalized medicine, with the development of genetic testing and precision medicine technologies. These advancements allow healthcare providers to tailor treatments to individual patients based on their genetic makeup, leading to more targeted and effective therapies. Local special circumstances in Mauritius are also playing a role in the growth of the Medical Technology market. The country has a well-established healthcare system with a strong emphasis on quality and accessibility. The government has implemented various initiatives to promote healthcare innovation and attract investment in the sector. This includes the establishment of medical technology parks and the provision of incentives for companies to set up research and development facilities in Mauritius. Furthermore, the country's strategic location and political stability make it an attractive destination for medical technology companies looking to expand their presence in the African market. Underlying macroeconomic factors are also contributing to the development of the Medical Technology market in Mauritius. The country has experienced sustained economic growth and a rising middle class, resulting in increased healthcare spending. This has created a favorable market environment for medical technology companies, as there is a growing demand for advanced healthcare solutions. Additionally, the government has prioritized healthcare as a key sector for development, allocating resources to improve infrastructure and healthcare services. This commitment to the sector has further stimulated investment and innovation in the Medical Technology market. In conclusion, the Medical Technology market in Mauritius is experiencing growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced medical technologies, the adoption of digital health solutions, and the government's support for healthcare innovation are driving the expansion of the sector. With a strong healthcare system, strategic location, and favorable market conditions, Mauritius is well-positioned to continue its growth in the Medical Technology market.

Methodology

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.