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Orthopedic Devices - Northern Africa

Northern Africa

The Orthopedic Devices market market in Northern Africa is anticipated to witness a significant surge in revenue, with projections indicating a staggering figure of US$0.34bn in 2024.
This promising growth trajectory is further expected to continue with an annual growth rate (CAGR 2024-2029) of 5.77%, culminating in a substantial market volume of US$0.45bn by 2029.
When compared on a global scale, it is noteworthy that the United States is anticipated to generate the highest revenue in this market, with an estimated value of US$16,020.00m in 2024.
The orthopedic devices market in Northern Africa is experiencing a significant rise in demand due to an aging population and an increase in sports-related injuries.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Orthopedic Devices market in Northern Africa is experiencing steady growth due to several factors. Customer preferences in the region are driving the demand for orthopedic devices. With an aging population and an increase in chronic diseases such as osteoarthritis and osteoporosis, there is a growing need for orthopedic devices to provide relief and improve mobility. Additionally, the rise in sports-related injuries among the younger population has also contributed to the demand for orthopedic devices. Trends in the market show that there is a shift towards minimally invasive procedures and advanced technologies. Patients are increasingly opting for procedures that involve smaller incisions and shorter recovery times. This has led to the development of innovative orthopedic devices such as arthroscopic instruments and robotic-assisted surgical systems. These advancements not only improve patient outcomes but also reduce healthcare costs in the long run. Local special circumstances in Northern Africa also play a role in the development of the orthopedic devices market. The region has a growing healthcare infrastructure, with an increasing number of hospitals and clinics offering orthopedic services. This has created opportunities for orthopedic device manufacturers to expand their presence in the region. Additionally, the rise in medical tourism in countries like Egypt and Morocco has further contributed to the demand for orthopedic devices. Underlying macroeconomic factors also influence the growth of the orthopedic devices market in Northern Africa. Economic growth and rising disposable incomes have made healthcare more accessible to a larger population. This has led to an increase in healthcare spending, including the purchase of orthopedic devices. Furthermore, government initiatives to improve healthcare infrastructure and provide universal healthcare coverage have also contributed to the growth of the market. In conclusion, the Orthopedic Devices market in Northern Africa is growing steadily due to customer preferences, trends towards minimally invasive procedures and advanced technologies, local special circumstances, and underlying macroeconomic factors. This presents opportunities for orthopedic device manufacturers to expand their presence in the region and cater to the growing demand for orthopedic devices.

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.