South & Central America Medical Devices Market is expected to reach US$ 24,642.7 million by 2027


PRESS RELEASE BY The Insight Partners 10 Nov 2020

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Medical Devices Market for Neurology Segment to Grow at Fastest CAGR during Forecast Period

 

According to our new market research study on “Medical Devices Market to 2027 – Middle East & Africa Analysis and Forecast – by Product Type, Function, and End Use,” the market is expected to reach US$ 21,802.3 million in 2027 from US$ 16,597.4 million in 2019; it is estimated to grow at a CAGR of 3.6% from 2020 to 2027. The report highlights trends prevailing in the Middle East & Africa Medical Devices Market and the drivers and restraints pertaining to the market growth.

 

Based on product type, the medical devices market is segmented into surgical devices, infection control devices, general medical devices, cardiovascular devices, orthopedic devices, home healthcare devices, others. The in vitro diagnostics (IVD) segment held the largest share of the market in 2019. However, neurology devices is estimated to register the highest CAGR of 8.8% in the market during the forecast period. The infection control devices category includes sterilization equipment, cleaning and disinfection equipment, protective barriers (surgical gowns, face masks, covers and closures, goggles, etc.), endoscope reprocessing products. In today's busy healthcare facilities such as hospitals and clinics, disinfection practices can be time consuming, inefficient and costly. Therefore, new market players are entering this market segment and making developments. For instance, Sterifre Medical raised an $8 million for developing innovative disinfection and sterilization technology to meet the need for rapid, point-of-care device disinfection in healthcare facilities. Sterifre's patented technology, Aura, is a compact one-touch system that treats multiple organisms on hard-surface tools that are used in doctors' clinics and hospitals.

 

Medtronic, Abbott, Boston Scientific Corporation, Braun Melsungen AG, 3M, General Electric Company, Stryker Corporation, Koninklijke Philips N.V., Siemens AG, Johnson and Johnson Services, Inc. are among the leading companies operating in the Medical Devices Market.

 

The report segments Middle East & Africa Medical Devices market as follows:

 

By Product Type

  • In Vitro Diagnostics (IVD)
  • Surgical Device
    • Minimally invasive surgery instruments
    • Electrosurgical Generators
    • Ultrasonic Surgical Generators
    • Others
  • General Medical devices
  • Cardivascular devices
  • Orthopedic
  • Infection control devices
  • Ophthalmology
  • Endoscopy
  • Neurology
  • Others

By Function

  • Diagnostic and Monitoring
  • Surgical
  • Therapeutics
  • Others

By End Use

  • Hospital
  • Ambulatory Care
  • Homecare
  • Others

By Country

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

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