Middle East and Africa Critical Care Equipment (CCE) Market is Booming Market to Grow at Healthy CAGR forecast by 2027
The healthcare industry is changing at a rapid rate in the
region owing to the need for better treatment. Advents in technology are also
aptly backing it up. On the upside, it has a positive impact on critical care
which developing fast. The climatic condition of the region triggers many
diseases that need immediate, intense care owing to which a revamping of the
critical care market is of the utmost importance. Governments in the region
have realized the urgency of such developments and the region is also getting
global funding.
However, on the downside, the region has low per capita
income, and some of the poorest countries of the world belong here. This could
prove detrimental to the otherwise promising market. At the same point of time,
awareness among the populace regarding diseases is not so high which can make
the MEA CCE market lag behind. The Middle
East & Africa (MEA) critical care equipment (CCE) market can grow
substantially to a valuation of USD 1061.4 million during the forecast period
(2017-2023) from a measured valuation of USD 681.2 million in 2016. Market
Research Future (MRFR) explains in a detailed report that the leap will take
place with an impressive CAGR of 5.7%.
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Competitive Scenario:
The region is largely untapped which gives market players
ample opportunity to expand their operational boundary. Grabbing this chance
with both hands, many multinationals are taking this as a key to explore the
uncharted regions further.
Some of the major players in this market are namely Siemens
Healthcare Private Limited (Germany), Johnson & Johnson Services, Inc.
(US), General Electric Company (US), Koninklijke Philips N.V. (Netherlands),
Medtronic (Republic of Ireland), Baxter (US), and others.
Industry Trends:
The crisis in the region regarding critical care is
astounding. Hence, many multinationals and local operatives are working in
collaboration to improve the system so that they can reach out to a larger
patient pool. Recently, Nyeri County Referral Hospital in Kenya collaborated
with Philips to increase their service efficiency by providing the necessary
training to their staff and implementing new machines that could prove vital in
saving lives.
Trivitron Healthcare Private Limited (“Trivitron”), an
Indian market giant, is collaborating with the Investment Funds for Health in
Africa (“IFHA”), a leading private equity investor in the healthcare sector in
Africa, to launch Trivitron Healthcare Africa B.V. (“THA”), which will have its
focus solely on the African continent. This company will provide world-class
equipment to the hospitals and research laboratories and a reliable after-sales
service.
Segmentation:
The critical care equipment MEA market can be segmented by
type of equipment and end-user.
By type of equipment, the CCE market can be segmented into
patient monitor, medical ventilator, dialysis, iv pumps, infusion pump, suction
apparatus, and others.
Based on end-users, the market includes hospitals, research
laboratories, and others. Hospitals constitute 80.60% of the market, and its
impact is substantial in the region.
Regional Analysis:
The MEA market for CCE witnesses the U.A.E leading from the
front as the country is financially superior and per capita income is quite
high. Saudi Arabia is also contributing substantially, and the market is
growing in the country. Egypt in Africa registered significant growth. On the
other hand, Dubai is emerging as a hub for medical tourism which can change the
face of this region. Rest of the MEA countries are going to show slow but
steady growth.
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Contact:
Akash Anand
Market Research Future
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