[South Africa] Government new health insurance scheme, growing ageing population to boost medical device market, report
19-01-2018 07:21:00 | by: Bob Koigi | hits: 6253 | Tags:

South Africa medical device market is expected to grow at an annual rate of 8.97 percent during the 2018-2024 period due to public-private partnerships to develop hospitals, government new health insurance schemes and growing ageing population.

It is predicted that ageing population in South Africa will double by 2050 from the present figure.

Around 90 percent of the total South African market is mainly contributed by multinational healthcare company. In orthopedics, consumables, prosthetics and patient aids segments, United States is dominating in South African market. However, for cost cutting most of the medical device buyers are looking for Asian countries.

Syringe, Needle & Catheter is dominating segment in South Africa Medical Device Market but it is expected that its share will steadily decline in forecasting period 2018-2024. In 2017, Syringe, Needle & Catheter, Electro-Diagnostic and Imaging Parts & Accessories are the top three segments which together hold more than half of the total South Africa medical device market share.

The other major segments such as Dental Products, Radiation Apparatus, Dental Instruments & Supplies, Ultra Sound, Medical X-ray Film and Dental X-ray contributed in a single digit market share in 2017.

South African Medicines Control Council set new licensing rules on August 24, 2017 for all domestic medical device companies and distributors that they must register with MCC within the specified deadline February 2018. This rule is not applicable for multinational healthcare companies but all medical device importers must obtain MCC licenses.

"South Africa Medical Device Market, Rules & Regulation, By (Syringe, Needle & Catheter Device, Electro-diagnostic, Imaging Parts & Accessories, Fixation Devices, Dental Products Device, Radiation Apparatus, Dental Instruments & Supplies, Ultra Sound, Medical X-ray Film, Scintigraphic Apparatus, CT Scanners, Ostomy Products & Dental Drills)" is a market research report published by Renub Research on medical device market of South Africa.