Egypt Medical Supplies market News
Egypt Medical supplies sector news
The medical supplies market in Egypt includes about 6,400 companies of different sizes, and the sector witnessed an increase of about 500% after 2011 AD.
This window is interested in following up on the medical supplies market in Egypt, as it is one of the most vital sectors in the Egyptian market.
Latest News
Egypt targets 300% increase in exports of medicines and medical supplies to Africa
The medical supplies sector in Egypt is witnessing a state of openness towards Africa, with the government pushing medical and pharmaceutical exports to the African market, which suffers from a shortage of various medical resources, with almost deliberate neglect by manufacturers in Europe to establish supply chains or manufacturing in the dark continent to maintain higher financial gains.
Egypt is trying to exploit this gap by supporting the pharmaceutical industry and complementary medical industries locally in order to provide an exportable surplus to cover the African demand market, which the government believes may reach about $5 billion within a few years.
Egypt has succeeded in obtaining the necessary World Health Organization accreditations to reach the third maturity level, which is a certificate of confidence for pharmaceutical exports in the African continent, which gives Egyptian products greater competitiveness in terms of quality, low price, ease of contracting, and low shipping costs.
Egypt's exports of medical supplies are expected to increase by about 300% over the next five years, with African governments opening up to concluding direct contracts with the Egyptian government to support their official health sectors.
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On October 29, 2024
A new rise in prices in the medical market in Egypt in anticipation of a new floatation decision by the Central Bank
The medical supplies and devices market in Egypt is witnessing a state of tension awaiting what may come out of new decisions by the Central Bank of Egypt to reduce the value of the pound against the dollar before the economic situation review meetings with the International Monetary Fund, despite the positive indicators revealed by the Fund's Director regarding the strength of the economy's recovery.
A market survey on the volume of monthly sales indirectly revealed that major companies working with imported products have reduced sales quantities in anticipation of price changes, while other companies have resorted to raising prices in advance until the end of the period of instability.
The state of tension in the market was reinforced by the desire of customers from medical centers and hospitals to store quantities of products, which led to an increase in demand for some items, which prompted small traders to raise supply prices individually according to the local sales movement.
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On August 1, 2024
The Egyptian market is anticipating price movements with the stability of the dollar price and the rise in the price of diesel
The medical supplies and equipment market in Egypt is witnessing a state of tension and instability, as some companies have resorted to raising prices against the backdrop of the Egyptian government's decision to raise the price of diesel and gasoline by about 11%, which negatively affects the prices of shipping and transportation operations that depend mainly on diesel.
On the other hand, the prices of some products have stabilized with the stability of the dollar price in the market, while producers and importers are awaiting market movements against the backdrop of news indicating the possibility of the dollar price rising in the coming days with the government paying part of its foreign debts, and opening the door to customs clearance for a number of shipments, especially in the pharmaceutical sector, which may push the price of foreign currencies to rise.
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On May 10th 2024.
Low volume of demand pays the prices of medical supplies to decline
The medical supplies market is witnessing a continuous price decrease for most of circulating items for the second month in a row, in light of a noticeable decrease in the volume of demand.
A number of merchants attributed the low volume of demand to the absence of purchasing power to a large group of patients, which drives them to the reduce, postponing treatment, or resorting to subsidized government treatment (treatment at state expense) after the previous wave of high costs that caused an economic crisis in the Egyptian street.
At the top of the list of varieties that witnessed a decline during the last period
♦ The medical glove is about 5%
♦ Gauze and Cotton products by about 3%
♦ Auxiliary movement products by about 7%
♦ Injecting products and imported insulin are about 2-5%
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On April 15th 2024.
Decline in the prices of medical supplies accompanied by decline in the movement of the market
A poll of a number of companies operating in the medical field showed that the demand for supplies and devices decreased by about 15-20% from the regular levels after the end of the month of Ramadan and the Eid Al-Fitr holiday, which was expected to correct the recession period during the month of Ramadan, especially since the previous period witnessed a significant rise in Prices and decline in the volume of demand.
This comes as the prices of medical supplies continue to decline with the stability of the dollar exchange rate in the official banking market, which explains part of the low levels of demand, waiting for the stability of prices, and the fear of merchants and consumers alike from incurring significant losses when dealing with the current prices.
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On December 15, 2023 AD
Egyptian companies are looking for a “Chinese” alternative to European products
A number of major companies importing medical devices and supplies have announced their desire to provide new Chinese-origin alternatives to their European counterparts, due to the worsening dollar crisis in the local market, as well as the intransigence of some European companies in implementing financial terms with the Egyptian companies that are their agents in Egypt.
It is expected that trade exchanges between Egypt and China will witness greater growth with Egypt entering the actual framework of the BRICS organization with major Chinese facilities to increase exchange and gain a wider space in the Egyptian market.
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On November 8, 2023 AD
The prices of imported medical supplies increased between 4-15%
The prices of medical supplies and devices witnessed a new increase in Egypt beginning at the beginning of this month of November. According to market monitoring, the increase amounted to between 4-15%, depending on the percentage of the imported product. Experts attributed this to the impact of the parallel exchange market rate on the importers’ decisions, as pricing depends on it to a greater extent than Official price.
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On October 24, 2023 AD
The International Company for Medical Supplies raises the prices of its syringe products
The International Company issued a new bulletin to amend the prices of 12 products from its list of products for intravenous injections. The increase ranged on average by 14%. Observers attributed the company’s decision to the rise in the price of the dollar on the black market.
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On October 17, 2023 AD
The Egyptian Medicine Authority obtained membership in the International Medical Supplies Regulators Forum (IMDRF).
Egypt becomes the first country in the Arab region and the Middle East and the second in Africa to obtain this membership. The authority explained that obtaining membership came after fulfilling all requirements for applying for membership, which highlights the compatibility of the regulatory framework, rules and procedures in force in Egypt regarding medical supplies with the global rules approved by the International Forum for Medical Supplies Regulators, where a vote was taken by the forum’s management to accept Egypt represented. In the Egyptian Medicines Authority as an associate member in the activities of the International Medical Supplies Regulators Forum (IMDRF) in its twenty-fourth edition, which was held in Berlin - Germany.
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On July 12, 2023 AD
Fitch Solutions: The size of the medical devices market in Egypt is $7.8 billion
Fitch Solutions issued its report on the medical devices market in Egypt. The research agency estimated the size of the market at approximately 7.8 billion US dollars. The agency said in its report that the medical market in Egypt is one of the most attractive markets in the Middle East.
It was estimated that the medical devices market will grow from $7.3 billion last year to $7.8 billion this year, reaching $8.3 billion in 2024.
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On June 6, 2023 AD
Egypt organizes the African Medical Conference Africa Health ExCon in its second edition
The Second African Medical Conference, which lasts for 4 days, was launched in Egypt. The conference includes a number of exhibiting medical sector companies. The conference also holds a number of sessions to discuss the development of the medical sector and health services in African countries.
A number of the Ministry of Health on the continent, and representatives of medical sector companies in Egypt, Africa and the Middle East, are participating in the conference.