Drug Delivery Devices - South Africa

South Africa

Highlights

In South Africa, revenue in the Drug Delivery Devices market market is projected to reach US$97.14m in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 4.37%, leading to a market volume of US$120.30m by 2029.
In a global context, the majority of revenue will be generated the United States, where it is expected to reach US$15.01bn in 2024.
In South Africa, the growing emphasis on chronic disease management is driving innovation and adoption of advanced drug delivery devices in the medical technology sector.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Drug Delivery Devices Market within the Medical Devices sector in South Africa is witnessing mild growth, influenced by factors such as regulatory challenges, rising healthcare costs, and the increasing preference for patient-centric treatment options among healthcare providers.

Customer preferences: Consumers in South Africa are increasingly prioritizing personalized healthcare solutions, prompting a rise in demand for advanced drug delivery devices that cater to individual patient needs. A growing awareness of chronic diseases and the importance of adherence to medication regimens is reshaping preferences towards devices that offer convenience and ease of use. Additionally, the influence of younger demographics, who favor technology-driven healthcare, is driving innovation in smart drug delivery systems, enhancing patient engagement and treatment outcomes.

Trends in the market: In South Africa, the Drug Delivery Devices market is experiencing a notable shift towards personalized healthcare solutions, driven by an increasing demand for devices that cater to individual patient needs. The rise in chronic diseases is emphasizing the importance of medication adherence, pushing consumers to favor devices that enhance convenience and usability. Moreover, younger populations are increasingly gravitating towards smart drug delivery systems, fostering innovation that promotes patient engagement and improves treatment outcomes. These trends hold significant implications for industry stakeholders, as they must adapt to evolving consumer preferences and invest in advanced technologies to remain competitive.

Local special circumstances: In South Africa, the Drug Delivery Devices market is shaped by unique local factors, including a diverse population with varying health needs and a high prevalence of HIV and tuberculosis. Culturally, there is a strong emphasis on community health, driving demand for devices that can be easily used in home settings. Regulatory challenges also play a role, as the government seeks to balance innovation with safety, impacting the speed of device approvals. These elements collectively influence market dynamics, pushing for adaptable and culturally relevant drug delivery solutions.

Underlying macroeconomic factors: The Drug Delivery Devices market in South Africa is significantly influenced by macroeconomic factors such as national economic stability, healthcare investment, and global economic trends. A growing economy, supported by fiscal policies that prioritize healthcare funding, creates opportunities for innovation and market expansion. Additionally, the increasing burden of diseases like HIV and tuberculosis necessitates effective drug delivery solutions, driving demand. Global supply chain dynamics and inflationary pressures also affect device pricing and availability. Furthermore, public-private partnerships are essential in enhancing healthcare access, ultimately shaping the market landscape in a resource-constrained environment.

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.

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Medical technology industry - statistics & facts

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.