Cardiology Devices - Egypt | Statista Market Forecast

In Egypt, the projected revenue in the Cardiology Devices market market is expected to reach US$158.00m in 2024.
This indicates a positive growth trend, with an estimated annual growth rate of 12.95% from 2024 to 2029.
By 2029, the market volume is forecasted to reach US$290.50m.
When compared globally, the United States is anticipated to generate the highest revenue in the Cardiology Devices market market, reaching US$25.77bn in 2024.
Egypt is experiencing a growing demand for advanced cardiology devices, driven by an aging population and increasing prevalence of cardiovascular diseases.

Definition:
The Cardiology Devices market includes diagnostic, monitoring, and surgical devices that are used to treat heart diseases and heart-related problems.

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, Abbott Laboratories, Boston Scientific, Edwards Lifesciences.
Further information on the key players can be found in the Market Shares boxes.

Cardiology diagnostic & monitoring devices
Cardiology surgical devices
Implants such as pacemakers

Cardiology drugs
Cardiology supplements

The Cardiology Devices market in Egypt has been experiencing steady growth in recent years.

Customer preferences: In Egypt, customers have shown a preference for advanced and innovative cardiology devices. They are willing to invest in state-of-the-art equipment that offers accurate diagnosis and effective treatment options. Additionally, there is a growing demand for minimally invasive procedures, which has led to an increased adoption of catheter-based devices and implantable cardiac devices.

Trends in the market: One of the key trends in the Cardiology Devices market in Egypt is the increasing prevalence of cardiovascular diseases. Egypt has witnessed a rise in risk factors such as obesity, diabetes, and hypertension, which has contributed to a higher incidence of heart diseases. As a result, there is a greater need for cardiology devices to diagnose and treat these conditions. Another trend in the market is the growing emphasis on preventive cardiology. Healthcare providers in Egypt are focusing on early detection and intervention to prevent the progression of heart diseases. This has led to an increased demand for screening devices and wearable technologies that can monitor heart health on a regular basis.

Local special circumstances: Egypt has a large population with limited access to healthcare facilities, especially in rural areas. This has created a need for portable and cost-effective cardiology devices that can be used in remote locations. Manufacturers are catering to this demand by developing compact and affordable devices that can be easily transported and operated. Furthermore, government initiatives to improve healthcare infrastructure and services have also contributed to the growth of the Cardiology Devices market in Egypt. Investments in healthcare facilities, training programs for healthcare professionals, and awareness campaigns have all played a role in increasing the adoption of cardiology devices.

Underlying macroeconomic factors: The economic stability and growth in Egypt have had a positive impact on the Cardiology Devices market. As the country's economy improves, individuals have more disposable income to spend on healthcare. This has led to an increased affordability of cardiology devices and treatments. Additionally, advancements in technology and manufacturing processes have made cardiology devices more accessible and cost-effective. This has further fueled the growth of the market in Egypt. In conclusion, the Cardiology Devices market in Egypt is experiencing steady growth due to customer preferences for advanced and innovative devices, the increasing prevalence of cardiovascular diseases, the emphasis on preventive cardiology, local special circumstances such as limited access to healthcare facilities, and underlying macroeconomic factors such as economic stability and technological advancements.

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.