Medical Devices - Egypt | Statista Market Forecast

The projected revenue in the Medical Devices market market in Egypt is expected to reach US$1.12bn in 2024.
Among the various markets, Cardiology_Devices is the largest, with a projected market volume of US$158.00m in 2024.
The Medical Devices market market in Egypt is anticipated to experience a compound annual growth rate (CAGR 2024-2029) of 11.21%, leading to a market volume of US$1.91bn by 2029.
In comparison to other countries, the United States is expected to generate the highest revenue, amounting to US$181.00bn in 2024.
Egypt is experiencing a growing demand for advanced medical devices to address the increasing healthcare needs of its population.

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 Egypt has been experiencing significant growth in recent years, driven by customer preferences for advanced healthcare solutions and the country's local special circumstances. Customer preferences in Egypt's Medical Devices market have been shifting towards more advanced and innovative products. With an increasing focus on healthcare quality and patient outcomes, customers are seeking medical devices that offer improved accuracy, efficiency, and patient comfort. This has led to a growing demand for technologically advanced devices such as imaging equipment, surgical instruments, and diagnostic devices. Additionally, customers are also looking for cost-effective solutions that can provide quality healthcare services at affordable prices. One of the key trends in the Medical Devices market in Egypt is the increasing adoption of digital health technologies. The integration of digital technologies, such as telemedicine, remote patient monitoring, and electronic health records, has enabled healthcare providers to deliver better patient care and improve overall healthcare outcomes. These technologies have also facilitated the remote diagnosis and treatment of patients, especially in rural areas where access to healthcare facilities is limited. The growing use of digital health technologies is expected to continue driving the growth of the Medical Devices market in Egypt. Another trend in the market is the rising demand for home healthcare devices. With an aging population and the increasing prevalence of chronic diseases, there is a growing need for medical devices that can be used at home for monitoring and managing health conditions. Home healthcare devices such as blood glucose monitors, blood pressure monitors, and respiratory devices are becoming increasingly popular among patients who prefer to manage their health conditions in the comfort of their own homes. This trend is expected to drive the growth of the Medical Devices market in Egypt, as it offers convenience and cost savings for both patients and healthcare providers. In addition to customer preferences, the Medical Devices market in Egypt is also influenced by local special circumstances. The country has a large population with a high burden of disease, which creates a significant demand for medical devices. Furthermore, the Egyptian government has been making efforts to improve healthcare infrastructure and access to healthcare services, which has increased the demand for medical devices. The government has also implemented policies to encourage investment in the healthcare sector, including the Medical Devices market, which has further fueled market growth. Underlying macroeconomic factors, such as economic growth and increasing healthcare expenditure, are also contributing to the development of the Medical Devices market in Egypt. The country's economy has been growing steadily, which has led to an increase in disposable income and healthcare spending. This, coupled with the government's focus on improving healthcare services, has created a favorable environment for the growth of the Medical Devices market. In conclusion, the Medical Devices market in Egypt is experiencing growth due to customer preferences for advanced healthcare solutions, the adoption of digital health technologies, and the rising demand for home healthcare devices. The market is also influenced by local special circumstances, such as a large population with a high burden of disease and government initiatives to improve healthcare infrastructure. Additionally, underlying macroeconomic factors, including economic growth and increasing healthcare expenditure, are driving the development 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.