BMI View : After a challenging 201 6 , 2017 will be a more positive year for the healthcare sector as the economy begins to pick up and health spending continues to grow, primarily to support the introduction of the national health insurance scheme . This will boost demand for medical devices with the market seeing high single-digit growth in local currency terms . Domestic production will continue to grow in sophistication, but the vast majority of the market will remain dependent on imports.
|Total (USDmn)||Per Capita (USD)||Total (Local Currency mn)||Per Capita (Local Currency)||Exchange Rate (Local Currency/USD)|
Latest Updates And Key Forecasts
We forecast that the market will register a 2015-2020 CAGR of 8.6% in local currency terms, which will raise the market from ZAR13.2bn in 2015 to ZAR20.0bn in 2020. Market growth in US dollars will be much weaker due to currency weakness. We forecast a 2015-2020 CAGR of 1.8%, which will raise the market from USD1.0bn in 2015 to USD1.1mn in 2020.
We expect imports to continue to display a downward trend in US dollar terms mainly due to the current weak position of the South African rand, which resulted in another contraction of 6.9% y-o-y for the three months to April 2016. In the 12 months to April 2016, imports fell by 4.9% y-o-y taking the running annual total to USD1.1bn.
We expect medical device exports will continue to underperform in 2016, even with currency depreciation, which is making South African products cheaper in export markets . In the three months to April 2016, exports recorded a 25.8% decrease y-o-y in US dollar terms. In the 12 months to April 2016, exports fell by 11.9% y-o-y in US dollar terms to USD173.4mn.
The Helen Joseph Hospital Audiology team has acquired new audiometric equipment which is the latest model in the market. The machine is one of only three machines available in the country. We note that hospitals in South Africa will continue to modernise their equipment and expand their services.
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.
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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.