Market Insights Health Medical Technology Medical Devices

Orthopedic Devices - Egypt

Egypt

The projected revenue for the Orthopedic Devices market market in Egypt is expected to reach US$100.70m by 2024.
This indicates a positive growth trend in the market.
Furthermore, it is estimated that the market will continue to grow at an annual growth rate (CAGR 2024-2029) of 10.58%.
By 2029, the market volume is projected to reach US$166.50m.
In comparison to other countries, the United States is expected to generate the highest revenue in the Orthopedic Devices market market, with a projected revenue of US$16,020.00m in 2024.
This demonstrates the dominant position of the United States in this market globally.
Egypt is experiencing a growing demand for orthopedic devices as the country's aging population seeks advanced medical solutions for musculoskeletal conditions.

Key regions: France, Netherlands, Europe, Germany, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Orthopedic Devices market in Egypt is experiencing steady growth due to increasing customer preferences for advanced medical technology and the rising prevalence of orthopedic conditions.

Customer preferences: Customers in Egypt are increasingly seeking advanced orthopedic devices that offer better functionality, durability, and comfort. They are willing to invest in high-quality products that can improve their quality of life and provide long-term benefits. Additionally, there is a growing demand for minimally invasive orthopedic procedures, which require specialized devices and implants. This trend is driven by the desire for faster recovery times, reduced pain, and smaller incisions.

Trends in the market: One of the key trends in the Orthopedic Devices market in Egypt is the adoption of 3D printing technology. This technology allows for the customization and production of orthopedic implants and prosthetics, providing a better fit for patients. 3D printing also enables faster production times and reduces costs, making orthopedic devices more accessible to a larger population. Another trend is the increasing use of robotics in orthopedic surgeries. Robotic-assisted surgeries offer greater precision and accuracy, resulting in improved patient outcomes. The use of robotics also allows for less invasive procedures, reducing the risk of complications and speeding up recovery times.

Local special circumstances: Egypt has a large population with a significant proportion of elderly individuals, who are more prone to orthopedic conditions such as osteoarthritis and fractures. This demographic factor contributes to the growing demand for orthopedic devices in the country. Additionally, the government has been focusing on improving healthcare infrastructure and increasing access to healthcare services, including orthopedic care. This has led to a greater awareness of orthopedic conditions and an increase in the number of patients seeking treatment.

Underlying macroeconomic factors: The economic development in Egypt has resulted in a growing middle class with higher disposable incomes. This has led to an increase in healthcare spending, including on orthopedic devices. Furthermore, the government has implemented healthcare reforms to improve the quality and accessibility of healthcare services, which has positively impacted the Orthopedic Devices market. The country's strategic location also makes it an attractive market for international orthopedic device manufacturers, leading to increased competition and innovation in the market. In conclusion, the Orthopedic Devices market in Egypt is driven by customer preferences for advanced technology, the adoption of 3D printing and robotics, the growing elderly population, government initiatives to improve healthcare infrastructure, and the country's economic development. These factors are contributing to the steady growth of the market and the increased availability of high-quality orthopedic devices in Egypt.

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.