Medical Devices - Haiti | Statista Market Forecast

The projected revenue for the Medical Devices market market in Haiti is expected to reach US$48.48m in 2024.
Among the various markets, Cardiology_Devices is anticipated to be the largest with a projected market volume of US$8.05m in the same year.
Looking ahead, the market is predicted to experience an annual growth rate of 5.51% (CAGR 2024-2029), resulting in a market volume of US$63.37m by 2029.
In comparison to other countries, the United States is expected to generate the highest revenue in the Medical Devices market market, reaching US$181.00bn in 2024.
Despite the challenges faced by Haiti's healthcare system, the demand for affordable and portable medical devices is on the rise.

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 Haiti is experiencing steady growth due to increasing customer preferences for advanced healthcare technologies and the rising demand for medical devices in the country.

Customer preferences: Customers in Haiti are increasingly seeking advanced healthcare technologies and medical devices that can provide accurate diagnoses and effective treatments. This preference for advanced medical devices is driven by the desire for better healthcare outcomes and improved patient care. Additionally, customers are also seeking medical devices that are easy to use and maintain, as well as those that are cost-effective.

Trends in the market: One of the key trends in the Medical Devices market in Haiti is the increasing adoption of digital health technologies. Digital health technologies, such as telemedicine and remote patient monitoring, are gaining popularity as they enable healthcare providers to deliver healthcare services to remote areas and improve access to healthcare. This trend is driven by the need to overcome the challenges of limited healthcare infrastructure and the lack of healthcare professionals in certain areas of the country. Another trend in the market is the growing demand for portable and handheld medical devices. These devices are compact, lightweight, and easy to use, making them ideal for use in resource-constrained settings. The demand for portable and handheld medical devices is driven by the need for point-of-care testing and the increasing focus on community-based healthcare.

Local special circumstances: Haiti faces several unique challenges that impact the Medical Devices market. The country has limited healthcare infrastructure, especially in rural areas, which limits access to healthcare services and medical devices. Additionally, the country also faces economic challenges, with a significant portion of the population living in poverty. This can limit the affordability of medical devices for many customers.

Underlying macroeconomic factors: The growth of the Medical Devices market in Haiti is influenced by several macroeconomic factors. The country's healthcare expenditure is increasing, driven by government initiatives to improve healthcare infrastructure and access to healthcare services. Additionally, the growing population and the increasing prevalence of chronic diseases are also contributing to the demand for medical devices in the country. In conclusion, the Medical Devices market in Haiti is growing due to increasing customer preferences for advanced healthcare technologies and the rising demand for medical devices. The adoption of digital health technologies and the demand for portable and handheld devices are key trends in the market. However, the limited healthcare infrastructure and economic challenges in the country pose unique challenges to the market. The growth of the market is supported by increasing healthcare expenditure and the growing population.

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.