Medical Technology

The Medical Technology market market in Tanzania is expected to reach a revenue of US$207.70m in 2024.
Among the various markets of the market, Medical Devices have the largest share with a projected market volume of US$177.60m in the same year.
This market is expected to grow at an annual rate of 8.16% (CAGR 2024-2029), resulting in a market volume of US$307.40m by 2029.
When compared globally, the United States is projected to generate the highest revenue in the Medical Technology market market, with an estimated revenue of US$211.10bn in 2024.
Tanzania's medical technology market is experiencing a surge in demand for portable and affordable diagnostic devices.

Definition:
The Medical Technology market covers devices and products used for prevention, diagnosis, and treatment of diseases. Next to pharmaceuticals, they form the most important category of medical products. The most well known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants.

Structure:
The Medical Technology market consists of two markets, In Vitro Diagnostics (IVD) and Medical Devices. The IVD market covers products used for medical laboratory testing of specimens derived from the human body. The Medical Devices market covers a broad range of products which are further marketed into medical specialties or types of application: Cardiology Devices, Diagnostic Imaging Devices, Orthopedic Devices, Ophthalmic Devices, and General & Plastic Surgery Devices. 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, Abbott Laboratories, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Implants and prostheses
Assistive technology products (e.g., hearing aids, wheelchairs)
Clinical engineering products
Imaging devices
Products for laboratoy testing (IVD)
Active medical devices (i.e., operating with electrical energy)

Pharmaceuticals
Services (i.e., treatment expenses)
Consumer technologies, e.g., fitness trackers
Blood and transplants derived from the human body

The Medical Technology market in Tanzania is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Tanzania, there is a growing demand for advanced medical technology solutions that can improve the quality of healthcare services. Customers are increasingly seeking innovative medical devices and equipment that can enhance diagnostics, treatment, and patient care. They are particularly interested in technologies that can improve access to healthcare in remote areas and provide cost-effective solutions. Additionally, customers are also looking for medical technology that can address specific healthcare challenges in the country, such as the prevalence of infectious diseases and limited healthcare infrastructure.

Trends in the market: One of the key trends in the Medical Technology market in Tanzania is the adoption of telemedicine and digital health solutions. With the increasing penetration of mobile phones and internet connectivity, healthcare providers are leveraging technology to reach patients in remote areas and provide virtual consultations. This trend is driven by the need to improve access to healthcare services, especially in underserved regions. Additionally, there is a growing focus on the development of portable and handheld medical devices that can be easily used in resource-constrained settings. Another trend in the market is the increasing focus on preventive healthcare and wellness. Tanzanians are becoming more conscious of their health and are actively seeking ways to prevent diseases and maintain a healthy lifestyle. This has led to a demand for medical technology solutions that can facilitate early detection and monitoring of health conditions. Additionally, there is a growing interest in wearable devices and mobile applications that can track and analyze health data.

Local special circumstances: Tanzania faces unique healthcare challenges, such as a high burden of infectious diseases, limited healthcare infrastructure, and a shortage of skilled healthcare professionals. These circumstances have created a need for medical technology solutions that can address these challenges. For example, there is a demand for diagnostic devices that can quickly and accurately detect infectious diseases such as malaria and HIV/AIDS. Additionally, there is a need for portable medical equipment that can be easily transported to remote areas and used in mobile clinics.

Underlying macroeconomic factors: The development of the Medical Technology market in Tanzania is also influenced by underlying macroeconomic factors. The country is experiencing steady economic growth, which has led to an increase in disposable income and healthcare expenditure. This has created a larger consumer base with the ability to afford medical technology products and services. Additionally, the government has been implementing healthcare reforms and investing in healthcare infrastructure, which has created a favorable environment for the growth of the Medical Technology market. In conclusion, the Medical Technology market in Tanzania is developing rapidly due to customer preferences for advanced healthcare solutions, trends such as the adoption of telemedicine and digital health, local special circumstances such as healthcare challenges and limited infrastructure, and underlying macroeconomic factors including economic growth and government initiatives. As the market continues to evolve, there will be opportunities for both local and international medical technology companies to innovate and meet the healthcare needs of Tanzanians.

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.