South Africa Medical Device Contract Research Organization Market Size & Outlook
South Africa medical device contract research organization market, 2018-2030 (US$M)
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South Africa medical device contract research organization market highlights
- The South Africa medical device contract research organization market generated a revenue of USD 60.2 million in 2023 and is expected to reach USD 115.3 million by 2030.
- The South Africa market is expected to grow at a CAGR of 9.7% from 2024 to 2030.
- In terms of segment, clinical was the largest revenue generating phase in 2023.
- Preclinical is the most lucrative phase segment registering the fastest growth during the forecast period.
Medical device contract research organization market data book summary
| Market revenue in 2023 | USD 60.2 million |
| Market revenue in 2030 | USD 115.3 million |
| Growth rate | 9.7% (CAGR from 2023 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Preclinical |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Preclinical, Clinical |
| Key market players worldwide | IQVIA Holdings Inc, Charles River Laboratories International Inc, Icon PLC, Syneos Health, Labcorp Holdings Inc, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Eurofins Scientific SE, Promedica International, Qserve |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.8% of the global medical device contract research organization market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia medical device contract research organization market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 115.3 million by 2030.
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Medical Device Contract Research Organization Market Scope
Medical Device Contract Research Organization Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa medical device contract research organization market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to medical device contract research organization market will help companies and investors design strategic landscapes.
Clinical was the largest segment with a revenue share of 83.06% in 2023. Horizon Databook has segmented the South Africa medical device contract research organization market based on preclinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
Various government initiatives, such as the tax breaks, R&D credit, and establishment of the South African Health Products Regulatory Authority (SAHPRA), are expected to increase foreign investments & collaborations in the country.
According to a report published by South African Medical Research Council, in 2022, medical device R&D in the country was very low; it was less than 1.0% compared to the total revenue of the industry in South Africa. However, a range of incentives available for medical device innovators in the country is expected to support the market growth during the forecast period.
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Our clientele includes a mix of medical device contract research organization market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa medical device contract research organization market , including forecasts for subscribers. This country databook contains high-level insights into South Africa medical device contract research organization market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa medical device contract research organization market size, by phase, 2018-2030 (US$M)
South Africa Medical Device Contract Research Organization Market Outlook Share, 2023 & 2030 (US$M)
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