Asia-Pacific medical device technology market is projected to witness considerable growth during the forecast period. The major factors contributing to the growth of the market include the rising spending on healthcare infrastructure for the improvement of healthcare facilities and the rising prevalence of chronic and infectious diseases in the region. In addition, the rising medical tourism in the Asia-Pacific economies, especially in India, Singapore, and Malaysia, is further contributing to the growth of the medical device technology market in the region. The medical device technology market is classified on the basis of device type, which includes in vitro diagnostics devices, diagnostic imaging devices, cardiology devices, ophthalmology devices, orthopedic devices, and others. Among these devices, the cardiology devices segment holds a significant share in the market, owing to the rising incidences and prevalence of CVD across the region. Such rising incidences of CVD is rising the development of advanced technologies, to cater the wide patient pool across the region.
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Geographically, Asia-Pacific medical device technology market is analyzed for China, Japan, India, and rest of Asia-Pacific. China contributed the major share in Asia-Pacific medical device technology market in 2019 and is expected to retain at its position during the forecast period. The dominance of China in Asia-Pacific market is mainly due to the presence of a substantial health workforce in the country. India is projected to exhibit a considerable CAGR in Asia-Pacific medical device technology market during the forecast period, owing to the rising spending on healthcare spending and medical tourism in the country.
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Asia-Pacific Medical Device Technology Market-Segmentation
By Product Type
- In Vitro Diagnostics Devices
- Diagnostic Imaging Devices
- Cardiology Devices
- Ophthalmology Devices
- Orthopedic Devices
- Others (Endoscopy Devices and Respiratory Care Devices)
Regional Analysis
- China
- Japan
- India
Rest of Asia-Pacific
Company Profiles
- Abbott Laboratories
- Baxter International, Inc.
- Becton, Dickinson and Co.
- bioMérieux SA
- Boston Scientific Corp.
- Cardinal Health, Inc.
- Hoffmann-La Roche Ltd.
- Fresenius SE & Co. KGaA
- General Electric Co.
- Johnson & Johnson Services Inc.
- Koninklijke Philips N.V.
- Medtronic PLC
- Siemens AG
- Smith & Nephew PLC
- Stryker Corp.
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