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Report
South Africa Hospital Supplies Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 85 Pages I Mordor Intelligence
The South African Hospital Supplies market studied is anticipated to witness a CAGR of nearly 5.3%, during the forecast period (2023 - 2028).
Covid -19 outbreak is a global threat that has mandated the sterilization process in every country to eradicate the spread of the virus, even in South Africa also. The COVID-19 pandemic brought a serious social and economic crisis to South Africa. According to statistics released by Statistics South Africa in September 2021, 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, the fourth quarter of 2020 saw an increase in GDP by 1.5%.?? Due to the COVID-19 pandemic, South Africa's biggest challenge was the health needs of people exceeding existing hospitals and beds. Most people were unaware of their health status, which delayed access to care. Lack of awareness decreases the hospital visiting rate and hence hinders the demand for hospital supplies and negatively affects the growth of the market. ?In October 2020, an article published by the Department of Health, South Africa, stated that due to the high costs of the private healthcare system, particularly the cost of hospitalization, specialist fees, and radiology, more than 83% of the population relies on overburdened public health services. Also, the country has high maternal, infant, and child mortality rates, along with a high incidence of infectious diseases, especially HIV/Aids and Tuberculosis (TB), rising prevalence of non-communicable diseases, such as diabetes, cancer, and hypertension, and an extremely high number of trauma cases. With the COVID-19 pandemic, the country faced an increase in cases of infectious diseases.? Despite the increasing number of diseases, the lack of people visiting hospitals is negatively affecting the growth of the market. ?
One of the major factors responsible for the growth of the hospital supplies market in South Africa is the increasing prevalence of chronic diseases. ? According to the estimates of the Global Cancer Observatory, in 2020, there were an estimated 108,168 new cancer cases diagnosed and 56,802 cancer deaths in South Africa.? Breast cancer is the most prevalent cancer among white and Asian women and the second-most common cancer among black and colored women. According to GLOBOCAN 2020, around 15,491 new breast cancer cases were reported in South Africa. Growing cancer cases requires constant monitoring, diagnostic, and surgical needs, which will increase the growth of the hospital supplies 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 Cote 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.
Thus, with the above-mentioned factors, the market is likely to grow during the forecast period.? However, the growing popularity of home healthcare services may hamper the growth of the market.
South Africa Hospital Supplies Market Trends
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 in a surgical manner. 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 cases of diabetes, along with other chronic diseases such as diabetes, etc., are the primary reason for the growth of the segment in the country. For instance, according to the data published by 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 apart from a healthy diet. Hence, growing diabetes will also increase the demand for hospital supplies such as syringes & needles.
Thus, due to the abovementioned factors, the market is likely to grow in the upcoming future.
South Africa Hospital Supplies Market Competitor Analysis
The South African Hospital Supplies market is very competitive, with most of the players competing to increase market shares. Strong competition and rapid technological advancements are key factors that confront the market. The major market players in the South Africa Hospital Supplies market are 3M Healthcare, B. Braun Melsungen AG, Becton Dickinson and Company, Cardinal Health, and Medtronic, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Growing Number of Surgical Procedures along with Increasing Hospital Stay
4.3 Market Restraints
4.3.1 Growing Popularity of Home Healthcare Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Type
5.1.1 Patient Examination Devices
5.1.2 Operating Room Equipment
5.1.3 Mobility Aids and Transportation Equipment
5.1.4 Sterilization and Disinfectant Equipment
5.1.5 Disposable Hospital Supplies
5.1.6 Syringes and Needles
5.1.7 Other Types
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M Healthcare
6.1.2 B. Braun Melsungen AG
6.1.3 Becton Dickinson and Company
6.1.4 Cardinal Health
6.1.5 Medtronic PLC
6.1.6 GE Healthcare
6.1.7 Johnson & Johnson
6.1.8 Thermo Fisher Scientific
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