Why South Africa ?
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The public health sector is largely financed by the government, consuming around 11% of the national budget. |
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With the growing number of hospitals and laboratories, the demand for the latest medical instruments has increased tremendously in the last few years. |
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Medical equipment analysts have estimated a 7.3 % per annum increase in healthcare expenditure over the next three years. |
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The diverse South African Medical Equipment and Devices (MED) Market, ranges from disposable medical devices to major capital items. The ratio between disposables and capital equipment is about 40:60 respectively. The expected growth over the next 2 years (2008 & 2009) as visualized by market players is 8%, which compares favorably with the projected inflation of less than 7%. |
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Appropriate, cost-effective products will be in greater demand, especially those that promote primary health care and are re-usable. There is focus on reliable, low maintenance products and a growing interest in high-tech, non-invasive equipment. |
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Digital imaging has been introduced to facilitate access to health care, providing teleradiology, telepath logy and other similar services to rural areas. Recommisioning of old equipment such as X-ray machines is another growing initiative. |
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Medical/surgical instruments and appliances, medical needles and catheters, electro-diagnostic apparatus, ultra scanning apparatus and imaging equipment constituted the bulk (70.9%) of the total import figure for the last two years. Analysts predict the market to follow the same trend over the next three years. |
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The medical equipment market is still largely dependent on imports due to lack of innovative products, especially sophisticated hi-end equipment. This situation creates significant opportunities for foreign country imports that are not available from the local suppliers. |
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The market is also expanding due to the increased adoption of available technology by the public sector, the launch of new technology and improved dressings and heightened awareness caused by the information dissemination strategies is undertaken by market participants. The significant long-term cost advantages offered by advanced wound care management to the healthcare industry are also reinforcing market growth. |
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