Market Size of South Africa Anesthesia Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 11.80 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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South Africa Anesthesia Devices Market Analysis
The South African anesthesia devices market is expected to register a CAGR of 11.8% over the forecast period.
The COVID-19 pandemic had a significant impact on the South African anesthesia device market. For instance, according to an article titled "SASCOS," published by clinicaltrial.gov in August 2021, clinicians had limited access to aggregated data on clinical outcomes after surgery in the South African healthcare sector. The lack of data impacted the efforts to improve the quality of care at the hospitals in South Africa. Additionally, within the South African health system during the pandemic, there was a large disparity and unequal access to the delivery of surgical care. Thus, the disrupted surgical procedures impacted the demand for anesthesia monitoring devices market growth during the COVID-19 pandemic. However, the market is gradually stabilizing as COVID-19 cases are declining. Thus, an increase in surgical procedures is expected to have a significant impact on the South African anesthesia devices market over the forecast period.
Certain factors propelling the market growth are the advancements in anesthesia delivery and monitoring technology as well as the increasing prevalence of chronic diseases coupled with the rising number of surgeries. The rising geriatric population, who are more prone to develop chronic diseases such as cardiovascular diseases, bone and joint-related disorders, and others, cause an increased verge on surgeries and therapeutics.
For instance, according to the United Nations Population Fund's World Population Dashboard's Statistics, in 2023 in South Africa, a large proportion of the population are aged between 15-64 years, and accounted for 66% of the population, and 6% of the population of the country had people of 65 years and above age. Hence, with an increase in the old age population, the chances of chronic disease increase, leading to increased demand for anesthesia devices.
Furthermore, the rising company activities in the country are expected to increase market growth over the forecast period. For instance, in October 2021, Aspen launched a general anesthetics production line at its manufacturing site at Gqeberha. This site manufactures general anesthetic products. Such development is expected to drive the market growth over the forecast period.
Hence, as per the factors mentioned above, such as advancements in anesthesia delivery and monitoring technology, as well as the increasing prevalence of chronic diseases coupled with the rising number of surgeries, the South African anesthesia devices market is anticipated to grow over the forecast period. However, the high cost of equipment, coupled with reimbursement issues and difficulties impede the usage of anesthesia devices.