South Africa Wearable Medical Devices Market Size & Outlook
South Africa wearable medical devices market, 2018-2030 (US$M)
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South Africa wearable medical devices market highlights
- The South Africa wearable medical devices market generated a revenue of USD 153.9 million in 2023 and is expected to reach USD 627.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 22.2% from 2024 to 2030.
- In terms of segment, diagnostic was the largest revenue generating product in 2023.
- Therapeutic is the most lucrative product segment registering the fastest growth during the forecast period.
Wearable medical devices market data book summary
| Market revenue in 2023 | USD 153.9 million |
| Market revenue in 2030 | USD 627.6 million |
| Growth rate | 22.2% (CAGR from 2023 to 2030) |
| Largest segment | Diagnostic |
| Fastest growing segment | Therapeutic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostic, Therapeutic |
| Key market players worldwide | Koninklijke Philips NV, Fitbit, Intel Corp, Garmin Ltd, Covidien, OMRON Corp, Polar Electro, Everist Health, UltraLinq Healthcare Solutions, Sotera Health Co Ordinary Shares |
Other key industry trends
- In terms of revenue, South Africa accounted for 0.5% of the global wearable medical devices 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 wearable medical devices 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 627.6 million by 2030.
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Wearable Medical Devices Market Scope
Wearable Medical Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Africa wearable medical devices 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 wearable medical devices market will help companies and investors design strategic landscapes.
Diagnostic was the largest segment with a revenue share of 60.49% in 2023. Horizon Databook has segmented the South Africa wearable medical devices market based on diagnostic, therapeutic covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa is a developing nation and countries such as the U.S. and Canada are supporting it in providing primary care to patients of all age groups. South Africa has modest healthcare spending. According to WHO, healthcare spending per capita in South Africa was USD 526 in 2018.
Furthermore, the population of South Africa was 59,308,690 in 2020, accounting for 1.28% increase from 2019. Moreover, according to the World Bank, geriatric population accounted for ~5.42% of the total population in South Africa in 2019, and it was ~5.32% in 2018. Such factors create modest opportunities for wearable medical devices market in the country.
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Our clientele includes a mix of wearable medical devices market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa wearable medical devices market , including forecasts for subscribers. This country databook contains high-level insights into South Africa wearable medical devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa wearable medical devices market size, by product, 2018-2030 (US$M)
South Africa Wearable Medical Devices Market Outlook Share, 2023 & 2030 (US$M)
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