Egypt Medical Devices Market, By Product Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic, Dental, Nephrology, General Surgery, Others), End User (Hospitals, Clinics, Others) – Industry Trends and Forecast to 2031.
Egypt Medical Devices Market Analysis and Size
The medical devices market is experiencing steady growth, driven by factors such as increasing healthcare expenditure, a growing geriatric population, and government initiatives to improve healthcare infrastructure. The market is characterized by a rising demand for advanced medical devices and technologies, driven by the need to improve healthcare outcomes and enhance patient care.The market is expected to continue growing as healthcare providers and policymakers focus on improving healthcare outcomes and enhancing patient care through the adoption of advanced medical devices and technologies.
Data Bridge Market Research analyzes that the Eygypt medical devices market which was USD 4,243.60 million in 2023, is likely to reach USD 5,375.67 million by 2031, and is expected to undergo a CAGR of 3.10% during the forecast period. “Cardiovascular devices” dominates the product type segment of the market due to the growing demand for better methods and treatment options for patients. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Product Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Ophthalmic, Dental, Nephrology, Wound Management, Others), End User (Hospitals, Clinics, Others)
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Countries Covered
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Egypt
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Market Players Covered
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Medtronic (Ireland), Stryker (U.S.), Johnson and Johnson Services, Inc. (U.S.), Fresenius SE & Co. KGaA (Germany), Koninklijke Philips N.V. (Netherlands), F. Hoffman-La Roche Ltd. (Switzerland), General Electric Company (U.S.), Siemens Healthineers AG (Germany), BD (U.S.), Boston Scientific Corporation (U.S.)
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Market Opportunities
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Market Definition
Medical devices are instruments, apparatuses, machines, or other similar articles that are used for diagnosing, preventing, monitoring, treating, or alleviating a medical condition or disease. Medical devices can range from simple, handheld devices to complex, computer-controlled systems. They are regulated and subject to specific standards and regulations to ensure their safety, effectiveness, and quality.
Egypt Medical Devices Market Dynamics
Drivers
- Increasing Healthcare Infrastructure
Egypt has been investing significantly in its healthcare infrastructure, including the construction of new hospitals and healthcare facilities. This expansion of healthcare infrastructure creates a demand for medical devices to equip these facilities and support healthcare services. The growing number of hospitals and clinics in Egypt increases the need for medical devices such as diagnostic imaging equipment, surgical instruments, monitoring devices, and other healthcare technologies. The development of healthcare infrastructure is a major driver of the medical devices market.
- Rising Healthcare Expenditure
Egypt has been increasing its healthcare expenditure to improve the quality and accessibility of healthcare services. The government has been allocating more funds towards healthcare, which includes the procurement of medical devices. The increased healthcare expenditure enables healthcare providers to invest in advanced medical devices and technologies to enhance patient care and treatment outcomes. The increased healthcare expenditure in Egypt acts as a driver for the medical devices market.
Opportunities
- Growing Demand for Advanced Medical Technologies
Healthcare sector is witnessing a growing demand for advanced medical technologies and devices. There is a need for innovative and technologically advanced medical devices that can improve patient outcomes and enhance the efficiency of healthcare delivery. This presents an opportunity for medical device manufacturers and suppliers to introduce cutting-edge technologies and solutions in the Egyptian market. The demand for devices such as robotic surgery systems, telemedicine solutions, remote patient monitoring devices, and smart healthcare technologies is expected to increase in the country, providing an opportunity for companies to tap into this emerging market.
- Increasing Focus on Medical Tourism
Egypt has been attracting a significant number of medical tourists who seek high-quality healthcare services at affordable costs. The country boasts a range of specialized medical facilities and skilled healthcare professionals, making it an attractive destination for medical tourism. This presents an opportunity for the medical devices market as the influx of medical tourists creates a demand for advanced medical devices and technologies. Medical tourism in Egypt covers a wide range of treatments, including cosmetic surgery, dental procedures, fertility treatments, and cardiovascular interventions, among others. Medical device manufacturers and suppliers can leverage this opportunity by offering specialized devices and technologies that cater to the needs of medical tourists visiting.
Restraints/Challenges
- Regulatory Challenges
The medical devices market in Egypt faces regulatory challenges that can hinder market growth. The process of obtaining regulatory approvals and certifications for medical devices can be time-consuming and complex. The regulatory framework in Egypt for medical devices is still evolving, and there may be inconsistencies in the interpretation and implementation of regulations. These challenges can result in delays in product launches and market entry for medical device manufacturers. In addition, ensuring compliance with regulatory requirements can be costly, especially for small and medium-sized enterprises (SMEs) operating in the market. The regulatory challenges pose a restraint to the growth of the medical devices market.
- Limited Healthcare Budget
Despite increased healthcare expenditure, Egypt's healthcare budget is still relatively limited compared to the demand and needs of the population. The country faces challenges in allocating sufficient funds for healthcare services, including medical devices. This limited healthcare budget can impact the purchasing power of healthcare providers and limit their ability to invest in advanced medical devices. It can also create price sensitivity among healthcare facilities, leading to a preference for lower-cost alternatives or delaying the adoption of new technologies. The challenge of a limited healthcare budget poses obstacles to the growth and adoption of medical devices.
This medical devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical devices market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In August 2020, Fitbit, Inc. announced the release of Fitbit Sense, the world's first electro-thermal activity sensor on a smartwatch that will assist manage stress in addition to cutting-edge heart rate tracking technology. Fitbit Sense is the most sophisticated health smart watch. In the upcoming years, this will assist the business in generating more revenue
- In September 2020, the debut of the Quell App for the Apple Watch for pain management was announced by NeuroMetrix, Inc. High level integration and new pain alleviation functionality will be made possible. This will make it easier for the user to operate the device and track wrist pain relief. This will increase market demand and aid in the expansion of the business.
Egypt Medical Devices Market Scope
The medical devices market is segmented on the basis of product type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Orthopedic Devices
- Cardiovascular Devices
- Diagnostic Imaging
- IVD
- MIS
- Wound Management
- Diabetes Care
- Ophthalmic
- Dental
- Nephrology
- General Surgery
- Others
End User
- Hospitals
- Clinics
- Others
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The medical devices market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the medical devices market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the medical devices market.
Competitive Landscape and Egypt Medical Devices Market Share Analysis
The medical devices market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Egypt presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the medical devices market.
Some of the major players operating in the medical devices market are:
- Medtronic (Ireland)
- Stryker (U.S.)
- Johnson and Johnson Services, Inc. (U.S.)
- Fresenius SE & Co. KGaA (Germany)
- Koninklijke Philips N.V. (Netherlands)
- F. Hoffman-La Roche Ltd. (Switzerland)
- General Electric Company (U.S.)
- Siemens Healthineers AG (Germany)
- BD (U.S.)
- Boston Scientific Corporation (U.S.)
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