Medical Devices - Botswana | Statista Market Forecast

Botswana is expected to experience significant growth in the Medical Devices market market, with projected revenue reaching US$85.19m in 2024.
Among the various markets, Cardiology_Devices is anticipated to be the largest, with a projected market volume of US$12.67m in the same year.
The market is expected to exhibit a steady annual growth rate of 7.13%, resulting in a market volume of US$120.20m by 2029.
When compared globally, it is worth noting that the United States is projected to generate the highest revenue in the Medical Devices market market, with an estimated amount of US$181.00bn in 2024.
Botswana's medical device market is experiencing a surge in demand for advanced diagnostic tools and equipment.

Definition:
The Medical Devices market includes instruments and machines helping for the prevention, diagnosis, and treatment of diseases. This market is further broken down into 6 submarkets according to medical specialties or types of application. Medical devices that treat the heart, such as pacemakers, can be found in the Cardiology Devices market. The Diagnostic Imaging market covers machines and instruments for diagnosis of many different kinds of conditions. Devices for orthopedic applications, such as joint implants, are included in the Orthopedic Devices market. Ophthalmic Devices are devices used for conditions related to the eye. The General & Plastic Surgery Devices covers many different products required for surgeries. 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, Siemens Healthineers.

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

Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Products for laboratory testing (IVD)

The Medical Devices market in Botswana has been experiencing steady growth in recent years, driven by increasing customer preferences for advanced healthcare technology and the country's efforts to improve its healthcare infrastructure. Customer preferences in Botswana have been shifting towards more advanced medical devices, such as diagnostic imaging equipment, surgical instruments, and patient monitoring systems. This is primarily due to the growing awareness among the population about the benefits of early diagnosis and treatment, as well as the increasing demand for minimally invasive procedures. Additionally, the government's focus on improving healthcare services has also contributed to the rising demand for medical devices. One of the key trends in the market is the increasing adoption of digital health technologies. This includes the use of telemedicine and mobile health applications, which allow patients to access healthcare services remotely. The convenience and efficiency of these technologies have made them particularly popular in rural areas of Botswana, where access to healthcare facilities may be limited. Furthermore, the COVID-19 pandemic has accelerated the adoption of telemedicine, as it provides a safe and convenient way for patients to consult with healthcare professionals without the need for physical contact. Another trend in the market is the growing demand for home healthcare devices. With the aging population and the increasing prevalence of chronic diseases, there is a rising need for medical devices that can be used at home. This includes devices for monitoring blood pressure, glucose levels, and oxygen saturation, as well as devices for administering medication. The convenience and cost-effectiveness of home healthcare devices make them an attractive option for both patients and healthcare providers. In terms of local special circumstances, Botswana faces challenges related to its healthcare infrastructure and workforce. The country has a relatively small population, which limits the economies of scale for healthcare providers and medical device manufacturers. Additionally, there is a shortage of skilled healthcare professionals, particularly in rural areas. These factors can impact the availability and affordability of medical devices in the country. Underlying macroeconomic factors also play a role in the development of the Medical Devices market in Botswana. The country's stable economic growth and increasing disposable income have contributed to the rising demand for healthcare services and medical devices. Additionally, the government's commitment to improving healthcare infrastructure and services through initiatives such as the National Health Insurance Scheme has created a favorable environment for the growth of the medical devices market. Overall, the Medical Devices market in Botswana is experiencing growth due to increasing customer preferences for advanced healthcare technology, the adoption of digital health technologies, and the demand for home healthcare devices. However, challenges related to healthcare infrastructure and workforce, as well as underlying macroeconomic factors, need to be addressed in order to sustain and further develop the market.

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.