Cardiology Devices - Zimbabwe | Statista Market Forecast

The Cardiology Devices market market in Zimbabwe is anticipated to achieve a revenue of US$8.92m by the year 2024.
With an annual growth rate (CAGR 2024-2029) of 1.85%, the market is projected to expand and reach a volume of US$9.78m by 2029.
In terms of global comparison, the United States is expected to generate the highest revenue, amounting to US$25.77bn in 2024.
Despite the economic challenges in Zimbabwe, the demand for advanced cardiology devices remains strong among the country's healthcare professionals.

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 Zimbabwe is experiencing steady growth due to increasing customer preferences for advanced medical technology, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Zimbabwe are shifting towards more advanced and innovative cardiology devices. Patients and healthcare professionals are increasingly seeking devices that offer better accuracy, reliability, and ease of use. This preference for advanced technology is driven by the desire for improved patient outcomes and the need to provide high-quality healthcare services. As a result, there is a growing demand for cardiology devices that incorporate the latest advancements in medical technology, such as wearable devices, remote monitoring systems, and minimally invasive surgical tools. Trends in the Cardiology Devices market in Zimbabwe are aligned with global and regional market trends. One of the key trends is the increasing adoption of telemedicine and remote monitoring solutions. These technologies enable healthcare professionals to remotely monitor patients' cardiac health and provide timely interventions. This trend is particularly relevant in Zimbabwe, where access to healthcare services in remote areas is limited. Telemedicine and remote monitoring solutions allow patients to receive timely medical advice and interventions, reducing the need for travel and improving patient outcomes. Another trend in the market is the growing focus on preventive cardiology. Healthcare professionals in Zimbabwe are increasingly emphasizing the importance of early detection and prevention of cardiovascular diseases. This has led to an increased demand for screening devices, such as ECG machines and portable ultrasound devices, which can help identify risk factors and detect cardiac abnormalities at an early stage. Local special circumstances in Zimbabwe also contribute to the development of the Cardiology Devices market. The country has a high burden of cardiovascular diseases, including hypertension and coronary artery disease. This creates a significant demand for cardiology devices for both diagnostic and therapeutic purposes. Additionally, the government of Zimbabwe has been actively investing in the healthcare sector, including the procurement of medical equipment. This investment creates opportunities for cardiology device manufacturers and suppliers to enter the market and expand their presence. Underlying macroeconomic factors, such as economic growth and increasing healthcare expenditure, are also driving the development of the Cardiology Devices market in Zimbabwe. The country has been experiencing steady economic growth, which has resulted in an expansion of the middle class and increased affordability of healthcare services. This, in turn, has led to a higher demand for advanced medical technology, including cardiology devices. Furthermore, the government's commitment to improving healthcare infrastructure and services has resulted in increased healthcare expenditure, further fueling the growth of the market. In conclusion, the Cardiology Devices market in Zimbabwe is developing due to increasing customer preferences for advanced technology, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for innovative cardiology devices, the adoption of telemedicine and remote monitoring solutions, the focus on preventive cardiology, the high burden of cardiovascular diseases, and the government's investment in healthcare infrastructure are all contributing to the growth of 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.