South Africa Hospital Supplies Market Size

South Africa Hospital Supplies Market Analysis

The South African hospital supplies market studied is anticipated to register a CAGR of nearly 5.3% during the forecast period.

The COVID-19 pandemic had a significant impact on the market studied. The healthcare market was initially disrupted following the strict lockdowns and shutdowns in South Africa. Major companies witnessed a loss in terms of revenue during the beginning of the pandemic. According to statistics released by Statistics South Africa in September 2021, the gross domestic product shrank by 7%, compared to the 0.2% expansion in 2019, due to a decline in activities from industries, commerce, restaurants, and hotels. However, initiatives by various organizations are expected to increase market growth. For instance, in January 2022, a press release by UNICEF stated that UNICEF supported the rollout of the COVID-19 vaccination program that scaled up in mid-2021. This included social listening, data collection, evidence collection, and community engagement, such as the UNICEF "multimedia truck" and the Zwakala campaign, which encouraged vaccination and non-pharmaceutical COVID prevention. Additionally, the World Health Organization is assisting the country in increasing hospital beds by acquiring mobile field hospitals that may be put up in the most impacted districts. Therefore, COVID-19 has significantly impacted the South African hospital supply market due to the rise in adoption of hospital equipment.

One of the major factors responsible for the growth of the hospital supply market in South Africa is the increasing prevalence of chronic diseases. According to the estimates of the Global Cancer Observatory, in 2021, there were an estimated 108,168 new cancer cases diagnosed and 56,802 cancer deaths in South Africa. Breast cancer was the most prevalent cancer among white and Asian women and the second-most common cancer among black and colored women. According to GLOBOCAN 2021, around 15,491 new breast cancer cases were reported in South Africa. Growing cancer cases require constant monitoring, diagnostics, and surgical needs, which will increase the growth of the hospital supply market in the country.

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 would provide support to small healthcare providers in the country.

With all of these things in mind, it seems likely that the market will grow during the forecast period. However, the growing popularity of home healthcare services may hamper the growth of the market.