Medical Devices Market in APAC 2008-2012
According to TechNavio Insights, 'the market for Medical devices in the APAC will grow to $69,613 million by 2012 from $49,500 million in 2008.'
Online, April 28, 2010 (Newswire.com) - The APAC market is witnessing a tremendous growth in the healthcare industry, especially in countries such as China, Australia, India, Korea, Taiwan etc.
According to TechNavio Insights, 'the market for Medical devices in the APAC will grow to $69,613 million by 2012 from $49,500 million in 2008.'
Countries like Malaysia, Hong Kong, Singapore, and Thailand also represent the developing markets and hold potential. However, Philippines and Indonesia are still in the phase of development and are highly dependent on imports.
Increased healthcare spending and the need for medical devices can be accounted to the growth in the aging population.
'As people live longer, there is a growing demand for devices such as orthopaedic, cardiovascular & ophthalmic, and diagnostic imaging products,' says a TechNavio expert. 'Also, the changing lifestyles of people have led to the predominance of chronic diseases of vital organs.'
Though the local manufacturers are coming up with advanced Medical devices in the APAC region, the high end market is dominated by the Japanese, German, and American manufactures.
The report by TechNavioTM Insights forecasts the size of the medical devices market in APAC over the period 2008-2012, as well as the key market trends, drivers, challenges and profiles of the key vendors of this industry.
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