Egypt's medical device market is projected to grow by 11.1 percent in 2013-2018, one of the highest growth rates for the sector in the MENA region. The market is expected to reach US$1.01 billion in the next five years according to research recently released by Business Monitor International (BMI).
"Egypt's per capita medical device expenditure is very low by regional and world standards, which indicates the enormous potential for growth as the country has the second largest population in the region," BMI said.
"Opportunities exist for medical companies to increase sales and market share," BMI added.
BMI explained that the vast majority of the market is supplied by medical device imports, particularly from Germany, the USA, China and Japan.
In US dollar terms, imports increased by 11.1 percent in 2013, reaching $540.5 million.
Other medical devices and diagnostic imaging remained the largest import product areas.
Egypt's medical device exports increased by 30.2 percent in 2013, amounting to $86.7 million. Consumables and other medical devices remained the largest export product areas.
