Market Trends of Middle East and Africa Hospital Supplies Industry
This section covers the major market trends shaping the MEA Hospital Supplies Market according to our research experts:
Operating Room Equipment Segment Expected to Hold Significant Market Share over the Forecast Period
The public demand for operating rooms and emergency rooms, where critically ill patients are treated, is likely to witness steady growth over the forecast period owing to the factors such as increased surgeries, and a rise in healthcare expenditures. In the Middle East and African region, increasing road traffic accidents, despite advances in safety technology, are among the primary reasons for the rising demand for operating rooms or emergency rooms, along with the necessary equipment. Trauma cases are among the major causes of death in many African countries.
Additionally, the strategic initiatives taken by the market players are also propelling the growth of the market. For Instance, in May 2021, GE Healthcare and NSIA Banque Côte d'Ivoire partnered with IFC's Africa Medical Equipment Facility to support healthcare providers in the region. This is likely to provide support to small healthcare providers in the country. Furthermore, according to GLOBOCAN 2020, around 15,491 new breast cancer cases were reported in South Africa. Growing cancer cases requires constant monitoring, diagnostic, and surgical needs, which will increase the growth of the hospital supplies market in the country.
A significant number of cases of hemiplegia, paraplegia, and quadriplegia are registered in the region, due to road accidents. Better government involvement through funding, initiatives, and collaboration with multinational companies may provide consistent growth in the operating room equipment segment, leading to a healthy CAGR.
GCC is Expected to Witness a Growth in the Studied Market Over the Forecast Period
The GCC is likely to grow in the hospital supplies market owing to the factors such as the rising burden of chronic diseases, increasing government funding, and new product launches. For instance, as per the January 2020 report, Drägerwerk AG (Lübeck, Germany) launched several new products at the Arab Health 2020 held in Dubai, UAE, including ICU ventilators and anesthesia workstations. Dräger offers anesthesia workstations, medical ventilation, patient monitoring as well as neonatal care for premature babies and newborns.
Moreover, Dräger launched the new Evita V600 and V800 ventilators designed to support daily clinical tasks in the ICU. Both ventilators feature an attractive design and high-performance ventilation, allowing for swift and effective operation from the start of lung protective ventilation up until the incorporation of an intensive care unit with a focus on patient care. Such developments and product launches in the GCC region are anticipated to boost the growth of the hospital supplies market over the forecast period.
Furthermore, the presence of competitors, product launches, and high healthcare expenditure in GCC are promoting market growth. For instance, as per the Health Accounts System of Dubai 2020, the major amount of current healthcare expenditure for 2020 went to hospitals amounting to AED 9,516 million (49%), followed by the primary health centers at AED 4,620 (24%). Ancillary providers such as medical and diagnostic labs, and imaging centers received AED 297 million (2%) while pharmacies received AED 2,596 million (13%). Healthcare governance and providers of healthcare system administration and financing received AED 1,782 (9%) of the funds. Households allocated AED 734 million (38%) towards discretionary health care spending. And AED 585 million (3%) was given to providers outside Dubai. Owing to the factors mentioned above, the GCC is predicted to grow favourably over the forecast period.
