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The South Africa medical device market will register a 9.1% CAGR between 2017-2018 according to a recent Fitch Solutions report. This significant growth will raise the market to USD 1.27 bn by 2018 with a product category breakdown that looks like this:
South Africa Medical Device Market by Product Category in 2018
|Orthopaedics & Prosthetics||153.70|
|Other Medical Devices||487.10|
Medical device exports will benefit from accelerating economic growth in Sub-Saharan Africa, supported by higher commodity prices and growing investor sentiment, although the region remains highly vulnerable to political uncertainty.
South Africa is the primary business hub for the medical device industry in Sub-Saharan Africa. A substantial portion of medical device and lab equipment exports are sent to other parts of Africa, with 12 African nations featuring in its top 20 export destinations last year.
Top Sub-Saharan Destinations for Medical Devices from South Africa, 2017