Endoscopic Devices - Ghana | Statista Market Forecast

Revenue in the Endoscopic Devices market market in Ghana is projected to reach US$8.63m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.70%, leading to a market volume of US$12.50m by 2029.
In a global context, the majority of revenue will be generated the United States, with a projected revenue of US$10.39bn in 2024.
In Ghana, the growing emphasis on minimally invasive surgical procedures is driving the demand for advanced endoscopic devices within the medical technology sector.

Definition:
The Endoscopic Devices market, a medical technology market, includes the sale of endoscopic devices. Endoscopy involves the use of an endoscope to examine the inside of a hollow organ or body cavity. The market includes various types of endoscopes, such as gastroscopes, laparoscopes, bronchoscopes, and colonoscopes.

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), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Olympus Corporation, Boston Scientific Corporation, and Stryker Corporation. Further information on the key players can be found in the Market Shares boxes.

Endoscopic devices
Implants such as stents

pharmaceuticals for endoscopic procedure

The Endoscopic Devices Market in Ghana is witnessing mild growth, influenced by factors such as the increasing prevalence of chronic diseases, rising healthcare investments, and efforts to enhance surgical outcomes through advanced minimally invasive procedures.

Customer preferences: In Ghana, there is a notable shift towards minimally invasive surgical options as patients increasingly prioritize quicker recovery times and reduced hospital stays. This trend is influenced by a growing awareness of health issues and the benefits of advanced endoscopic procedures. Additionally, younger demographics are more inclined to seek out innovative medical solutions, reflecting a cultural shift towards proactive health management. As healthcare facilities adopt state-of-the-art endoscopic devices, patients are more informed and engaged in their treatment choices, driving demand for these technologies.

Trends in the market: In Ghana, the Endoscopic Devices Market is experiencing significant growth as healthcare providers increasingly adopt minimally invasive surgical techniques. This trend is driven by a rising patient preference for procedures that ensure faster recovery and shorter hospital stays. As awareness of advanced endoscopic options expands, younger generations are actively seeking innovative medical solutions, fostering a culture of proactive health management. The integration of cutting-edge endoscopic devices in healthcare facilities enhances patient engagement and education, compelling industry stakeholders to invest in technology and training to meet the evolving demands of a more informed patient population.

Local special circumstances: In Ghana, the Endoscopic Devices Market is being shaped by unique local factors, including the country's diverse geography and varying access to healthcare services. Urban areas are witnessing a surge in advanced medical facilities adopting endoscopic technologies, while rural regions still face challenges in accessing such innovations. Cultural attitudes towards traditional medicine also influence patient acceptance of minimally invasive procedures. Additionally, regulatory support from the government to streamline medical device approvals is encouraging investments in training and technology, further enhancing the market's growth potential.

Underlying macroeconomic factors: The Endoscopic Devices Market in Ghana is significantly influenced by macroeconomic factors such as national economic health, healthcare expenditure, and global economic trends. A growing economy, bolstered by increased foreign investment and infrastructure development, is leading to improved healthcare facilities, particularly in urban centers, which enhances the adoption of advanced endoscopic technologies. Moreover, government fiscal policies aimed at boosting healthcare accessibility and affordability are crucial, as they encourage investments in medical technology. Additionally, global trends, such as advancements in minimally invasive procedures and rising healthcare quality standards, are further propelling the demand for endoscopic devices in the region.

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.