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 share 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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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.
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.
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.
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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