BMI Industry View : 2015 will be challenging for the healthcare sector with a host of legislative changes that are pending conclusion. Medical device manufacturers face the prospect of longer approval times under proposed new regulatory measures, while the ongoing inquiry into the costs of private healthcare could result in the introduction of price capping. Meanwhile, progress in implementing the national health insurance programme appears to have stalled amidst delays in publishing policies outlining its shape and cost. Despite these uncertainties, we expect the medical device market will continue to grow, although currency weakness will negatively impact on growth rates in US dollar terms.
Headline Industry Forecasts
We value the medical device market at USD1.2bn in 2014 making it one of the largest markets in the Middle East & Africa region. Per capita spending remains well below the regional average at USD22 in 2014, although this is relatively high for an African market. We forecast a 2014-2019 CAGR of 7.6% in local currency terms, which is lower than the 2009-2014 CAGR of 10.4%. This reflects subdued economic growth at the start of the forecast period and lower government health spending. In US dollar terms, the 2014-2019 CAGR is much lower at 2.2%, which will see the market reach USD1.3bn in 2019. Performance will be particularly weak in 2015, when the market will see a contraction of 5.6% before returning to growth in 2016.
Medical device imports supply over 90% of the market and were valued at USD1.1bn in 2014, having grown at a 2009-2014 CAGR of 5.0% in US dollar terms and 10.4% in local currency terms. Performance in US dollars has been particularly weak over the past three years due to a 50% depreciation of the rand between 2011 and 2014. We expect currency weakness will continue to weigh on import performance in 2015, with mid to high single-digit growth in local currency and a contraction in US dollars as the rand continues to lose ground...
The South Africa Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in South Africa provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the South Africa Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for South Africa, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in South Africa.
- Target Business Opportunities in the South Africa Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in South Africa.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.