Trade, Industry and Competition (dtic) Minister Ebrahim Patel is today presiding over the launch of the Medical Technology (MEDTECH) Master Plan by industry stakeholders at the Industrial Development Corporation (IDC) in Sandton.
The MEDTECH Master Plan aims to provide guidance for the public and private sectors to dedicate resources and time in strengthening the sector in order to place it on a growth trajectory.
This process will involve developing agreements on areas for intervention, collaboration, and commitments for ongoing development and investment.
One of the objectives of the plan is to grow a competitive medical technology industry over the next three years, with special focus on the development of small to medium enterprises that will eventually supply domestic and international markets.
The MEDTECH industry in South Africa has been identified as a potentially important contributor to economic growth and employment, whilst simultaneously enabling an improvement in health provision and quality of life for the South African population.
The industry is diverse, using various materials to produce a variety of products such as metals (titanium-based implants), chemicals (disinfectants), textiles (bandages and dressings), plastics (catheters, IV administration sets), wood (tongue depressors) and chemicals/minerals/plants that go into the manufacture of wound products.
The industry gained prominence during the COVID-19 pandemic as South African manufacturers tooled up to meet the growing need for medical devices.
South Africa is one of the largest MEDTECH markets across Africa and the Middle East, estimated at R21 billion in 2021 and is projected to grow to R29.6 billion by 2025. – SAnews.gov.za
