Market Insights Health Medical Technology

Medical Devices - Angola

Angola

The Medical Devices market market in Angola is predicted to achieve a revenue of US$166.90m by the year 2024.
Among the various markets, Cardiology_Devices is anticipated to be the largest, with a projected market volume of US$22.75m in 2024.
Over the period from 2024 to 2029, the revenue is expected to exhibit an annual growth rate of 6.12%, leading to a market volume of US$224.60m by 2029.
In a global context, the United States is projected to generate the highest revenue, amounting to US$179.80bn in 2024.
Angola is experiencing a growing demand for medical devices as the country focuses on improving its healthcare infrastructure.

Key regions: Germany, Spain, Japan, United Kingdom, United States

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Analyst Opinion

The Medical Devices market in Angola is experiencing significant growth and development due to various factors. Customer preferences in the Medical Devices market in Angola are driven by a need for advanced healthcare solutions and the desire for improved quality of life. Angolan consumers are increasingly seeking out medical devices that can help diagnose and treat a wide range of health conditions, including chronic diseases and disabilities. They are also looking for devices that are easy to use, affordable, and provide accurate results. Additionally, there is a growing demand for medical devices that are portable and can be used in remote areas with limited access to healthcare facilities. Trends in the market indicate a shift towards more innovative and technologically advanced medical devices. Angolan consumers are increasingly adopting wearable devices, such as fitness trackers and smartwatches, to monitor their health and track their fitness goals. There is also a growing demand for telemedicine devices, which allow patients to consult with healthcare professionals remotely. Furthermore, there is an increasing focus on the development of medical devices that are tailored to the specific needs of the Angolan population, such as devices for the diagnosis and treatment of prevalent diseases in the region. Local special circumstances in Angola play a significant role in the development of the Medical Devices market. The country has a high prevalence of diseases such as malaria, HIV/AIDS, and tuberculosis, which has led to an increased demand for medical devices for the diagnosis and treatment of these conditions. Additionally, Angola has a rapidly growing elderly population, which has created a need for medical devices that cater to the specific healthcare needs of older adults. Moreover, the government of Angola has implemented various healthcare initiatives and policies to improve access to medical devices, which has further fueled the growth of the market. Underlying macroeconomic factors also contribute to the development of the Medical Devices market in Angola. The country has experienced strong economic growth in recent years, which has led to an increase in disposable income and healthcare spending. This has allowed consumers to afford medical devices and invest in their healthcare. Furthermore, the government has been investing in the development of healthcare infrastructure, including hospitals and clinics, which has created a favorable environment for the growth of the Medical Devices market. Overall, the Medical Devices market in Angola is developing rapidly due to customer preferences for advanced healthcare solutions, the adoption of innovative medical devices, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing as the demand for medical devices in Angola increases and the country continues to invest in healthcare infrastructure.

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.