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The Egyptian government prefers to invest in preventative healthcare, which presents opportunities for the medical device industry.
Compared to other Middle Eastern countries, Egypt has a sizable healthcare industry. Egypt provides a range of investment prospects since the Egyptian government is very interested in growing the healthcare business, particularly in relation to medical devices, and wants to develop the sector by implementing a new National Health Insurance programme.
The Egypt Medical Devices Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The COVID-19 epidemic in Egypt has already posed difficulties for the nation’s healthcare system. As a result, the Egyptian government has approved raising its healthcare budget for the current fiscal year.
During the pandemic, the demand for more services and medical supplies has been a serious obstacle. For the past year, Egypt has raised public investment allowing for the bolstering of the healthcare system during the pandemic.
The Decent Life Presidential Initiative, which guarantees all residents access to medical insurance, was also introduced by the Egyptian government.
By making these expenditures, the government hopes to give hospitals the money they need to start serving the public and to speed up the implementation of health facilities that are now being built or developed.
The Egyptian government plans to launch the National Project for Self-Sufficiency in Plasma Derivatives, which seeks to develop 20 plasma collecting sites and a central strategic stockpile, as well as finish building 23 new hospitals, of which 77% are already finished.
In order to serve the Arab and African region, Egypt has taken the initiative to construct a Regional Research and Development Centre.
Additionally, the government wants to assist Egyptian families by enhancing population traits, limiting population increase, and enhancing the performance of 125 integrated hospitals.
The government plans to run sewing shops affiliated with Al-Takamol hospitals, provide and make family planning methods available, run family development centres, finance micro-projects, and automate family planning services while connecting databases.
A small number of businesses that profit from low import tariffs import and distribute technical medical equipment, including radiography and ultrasound equipment, vital statistics monitors, dialysis machines, and laboratory microscopes. The largest of these businesses is El Gomhoureya, which is fully owned by the government.
In order to compete locally, El Gomhoureya Company is also undergoing a reorganizational upgrading and modification plan.
The equipment that private healthcare providers require, which is required to be entirely new in accordance with the nation’s customs legislation, is frequently imported. It can be a difficult process, but Egyptian doctors who attend conferences overseas frequently do so to obtain equipment.
The Egyptian government has promised to strengthen its regulation of the healthcare industry in response to the Covid-19 epidemic and the ensuing healthcare crisis. As a result, the private sector has increased its purchases of medical equipment.
Similar to this, there are an increasing number of privately operated hospitals and clinics, which has sharply increased demand for medical and lab professionals as well as equipment. Although the registration process has made some progress, bureaucratic red tape still hinders business and the tendering process is opaque.
