The African endoscopy devices market is expected to witness a CAGR of 7.2%, over the forecast period. The increasing burden of common gastrointestinal (GI) conditions, such as diarrhea, has been observed in Africa. Therefore, the landscape of GI illness is changing to morbidity and mortality from chronic illness. This rising chronic GI illnesses, such as non-infectious gastric ulcer disease, cancer, dyspepsia, and cirrhosis, create a huge demand for endoscopic services in Africa.
Currently, the growth in the market studied is predominantly due to the increasing patient preference for minimally-invasive procedures, high incidences of chronic diseases, increased awareness, and technological advancements. Minimally-invasive endoscopic procedures offer advantages, such as less pain, faster recovery, small incisions, reduced blood loss, and cost savings. Hence, the improved quality of care is triggering the market growth for endoscopy devices in Africa.
Key Market Trends
Gastroenterology Segment is Expected to Exhibit Fastest Growth Rate Over the Forecast Period
- Gastroenterology refers to the disorders of the digestive system. Colonoscopy is an endoscopic procedure that is used to examine the large and small intestine. The colonoscopy procedures are used to better diagnose tumors, colon polyps, ulcers, and inflamed or bleeding areas of the lower intestinal area. In South Africa, there is a high prevalence of colorectal cancer.
- According to the World Health Organization, colorectal cancer is quite prevalent in women of Africa. Furthermore, the incidence rate per 100,000 individuals is around 8.2%. As a result, colonoscopy becomes more popular in the area. Moreover, the rising technological advancements in colonoscopy devices and an increase in the population suffering from colorectal cancers are expected to drive the overall growth of the market studied.
- The presence of a significant number of players in the market studied has an impact on the prices of products by firms, such as B Braun Melsungen AG, Medtronic PLC, Stryker Corporation, Boston Scientific Healthcare, and Karl Storz GmbH & Co. KG.
- There is a sustainable competitive advantage through innovation for all companies. The companies are continuously focusing on innovations through R&D activities. In 2017, Mindray launched HD3 Full HD Endoscopy System in South Africa. Moreover, these companies are applying powerful competitive strategies, in order to gain a major market share in the market studied.
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