Market Trends of South Africa Hospital Supplies Industry
This section covers the major market trends shaping the South Africa Hospital Supplies Market according to our research experts:
Syringes and Needles are Expected to Hold a Significant Market Share Over the Forecast Period
Syringes are the tools used for injecting or collecting fluids surgically. It consists of a stopper to prevent the medication from leaking, a barrel to hold the fluid, a flange to allow the user to hold the syringe securely, and a plunger rod, which is a device that presses the fluid through the needle. Needles are classified according to their length and diameter. The diameter is measured in gauges; when shopping for needles, it is important to know that the larger the gauge of the needle, the smaller the diameter. A higher gauge will cause less pain and bruising during the injection.
Growing diabetes cases, as well as other chronic diseases such as diabetes, are the primary reasons for the segment's growth in the country, as diabetes medication frequently requires syringes and needles.For instance, according to the data published by the IDF Diabetes Atlas, in South Africa, the age-adjusted comparative prevalence of diabetes in 2021 is 10.8% and is estimated to reach 13.0% by the year 2045. Diabetes patients require routine injections of insulin in addition to a healthy diet. Hence, growing diabetes will also increase the demand for hospital supplies such as syringes and needles.
In addition, increasing vaccine development in the country is another factor in market growth, as increasing vaccine production would increase its consumption in the country, which would require syringes. For instance, in March 2022, Biovac partnered with a consortium of nine development and financial institutions in South Africa to support the company's vaccine manufacturing expansion. Similarly, in September 2021, Dr. Patrick Soon-Shiong and NantAfrica launched an ambitious initiative to build capacity for advanced health care in Africa. NantWorks LLC signed a collaboration agreement with the CSIR and the SAMRC to initiate the transfer of biologic manufacturing technology for COVID-19 and cancer vaccines and next-generation cell-based immunotherapies that enable the rapid clinical development of next-generation vaccines for infectious diseases and cancer at centers in South Africa. Furthermore, in July 2021, Biovac entered into an agreement with Pfizer to manufacture up to 100 million doses of the Pfizer-BioNTech COVID-19 vaccine for use exclusively in Africa. Thus, such initiatives are expected to increase market growth over the forecast period.
Operating Room Equipment Segment is Expected to Have Significant Growth Over the Forecast Period
Factors such as the increasing prevalence of diseases such as HIV and the increasing number of hospitals and surgical treatments are expected to increase market growth.
The increasing burden of chronic diseases in the country is increasing the demand for the detection of disease, conditions, and treatments, which further increases the demand for operating room equipment, thereby propelling market growth. For instance, in January 2022, a press release by the WHO stated that around 7 million people living in South Africa have HIV, with around 5.5 million receiving ART treatment. Around 5 million women are infected with HIV in the country, with around 210,000 new cases of newly infected people. The high prevalence of HIV is expected to increase the demand for hospital supplies, which is expected to increase market growth.
Moreover, the rising healthcare spending and the number of hospitals are more likely to support the target market's expansion in the country. For instance, in April 2022, the Netcare Property Holdings Joint Venture opened a 400-bed multi-specialty hospital in South Africa. Thus, the expansion of hospitals in South Africa is expected to create opportunities for operating room equipment, fueling market growth. Additionally, another article published in the Europe PMC in January 2021 mentioned that the incidence of hip fracture nationwide is predicted to increase more than threefold by 2050 compared to 2020. Such an increase in hip fractures is expected to drive demand for operating room equipment for orthopedic purposes, further bolstering the studied market's growth.
