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South Africa medical device market is expected to grow at a CAGR of 8.97 percent during the forecasting period 2018 - 2024 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
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.
