Asia Pacific Medical Devices Market Growth, Size, Trends, Revenue, Demand and Future Outlook
Asia Pacific Medical Devices Market Size- By Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jan-2024 | Report ID: MEDE2403 | Pages: 1 - 158 | Formats*: |
| Category : Medical Devices | |||
Asia Pacific Medical Devices Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Medical Devices Market is estimated to reach USD 220.88 billion by 2033 with a CAGR of 7.58%.
The report includes an in-depth analysis of the Asia Pacific Medical Devices Market, including market size and trends, product mix, distribution channels, and supplier analysis. An instrument, apparatus, machine, tool, in vitro reagent, or anything similar used to identify, stop, lessen, treat, or cure illness is referred to as a medical device. Medical devices function by physical, structural, or mechanical action instead of chemical or metabolic action on or within the body, as is the case with pharmaceuticals and biologics. In addition to complex, high-risk (Class-II) devices that are implanted and extend life, examples of simple, low-risk (Class-I) devices include tongue depressors, medical thermometers, disposable gloves, and bedpans.
- The Olympus Asia Pacific Innovation Program (OAIP) was launched in December 2022 by Olympus Corporation in collaboration with the healthcare accelerator MedTech Innovator Asia Pacific.
Market Opportunities and Challenges
Opportunities: Growing Investment in the Asian Medtech Sector by Global Venture Capitalists to Encourage Market Growth. Asia Pacific is currently experiencing a time of opportunity that benefits both established and up-and-coming medical device manufacturers. Multinational market players are being encouraged to increase their presence in the region in order to meet the growing demand and turn a profit by the aging population and rising medical supply consumption. The region's growing healthcare expenditures, growing healthcare awareness, and growing population all contribute to the growth of the medical device industry. Medical technology is evolving at a rapid pace, especially in nations like South Korea, China, Japan, and India, which gives businesses the chance to launch innovative products.
Challenges: Many factors affect the growth and operational environment of the Asia Pacific Medical Devices Market. Because medical device manufacturers must navigate various approval processes and adhere to varying standards, the regulatory complexities across different countries within the region pose a significant challenge. High-priced medical device market access and adoption may also be hampered by reimbursement concerns and healthcare budgetary restrictions in some nations. Entry and distribution challenges into the Asia Pacific region are brought about by the existence of a heterogeneous and fragmented market with differing degrees of economic development among member nations.
Market Competitive Landscape
The Asia Pacific Medical Devices Market is highly fragmented. Some of the market players are Johnson & Johnson Services Inc., Lepu Medical Technology, Medtronic, NIHON KOHDEN CORPORATION, Nipro Corporation, Olympus Corporation, Shenzhen Mindray Bio-Medical Electronics Co Ltd., Shimadzu Corporation, Terumo Corporation, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By End User |
| Regions covered | China, Japan, India, Australia, Rest of Asia Pacific |
| Companies Covered | Johnson & Johnson Services Inc., Lepu Medical Technology, Medtronic, NIHON KOHDEN CORPORATION, Nipro Corporation, Olympus Corporation, Shenzhen Mindray Bio-Medical Electronics Co Ltd., Shimadzu Corporation, Terumo Corporation, Others |
COVID-19 Impact on Asia Pacific Medical Devices Market
The Asia Pacific Medical Devices Market has experienced significant effects from the COVID-19 pandemic. Lockdowns and other restrictions caused some initial supply chain disruptions in the region, but the healthcare industry quickly responded to the challenges presented by the pandemic. Critical medical equipment such as ventilators, diagnostic tools, and personal protective equipment saw a sharp increase in demand. The dynamics of the market temporarily changed as a result of manufacturers having to increase output to meet the growing demands.Additionally, the pandemic hastened the Asia Pacific region's adoption of telemedicine and digital health solutions.
Key Target Audience:
- Medical Device Manufacturers
- Healthcare Providers
- Regulatory Authorities
- Distributors and Supply Chain Partners
- Healthcare IT Companies:
Our in-depth analysis of the Asia Pacific Medical Devices Market includes the following segments:
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| By End User: |
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| By Region: |
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Key Topics Covered in the Report:
- Asia Pacific Medical Devices Market Size (FY’2023-FY’2033)
- Overview of Asia Pacific Medical Devices Market
- Segmentation of Asia Pacific Medical Devices Market By Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging, IVD, MIS, Wound Management, Diabetes Care, Opthalmic, Dental, Nephrology, General Surgery, Others)
- Segmentation of Asia Pacific Medical Devices Market By End User (Hospitals & ASCs, Clinics, Others)
- Expansion Analysis of Asia Pacific Medical Devices Market
- Problems and Obstacles in Asia Pacific Medical Devices Market
- Competitive Landscape in the Asia Pacific Medical Devices Market
- Impact of COVID-19 and Demonetization on Asia Pacific Medical Devices Market
- Details on Current Investment in Asia Pacific Medical Devices Market
- Competitive Analysis of Asia Pacific Medical Devices Market
- Prominent Players in the Asia Pacific Medical Devices Market
- SWOT Analysis of Asia Pacific Medical Devices Market
- Asia Pacific Medical Devices Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Asia Pacific Medical Devices Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Medical Devices Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Medical Devices Market
7. Asia Pacific Medical Devices Market, By Type (USD Million)
7.1. Asia Pacific Medical Devices Market Value Share and Forecast, By Type, 2023-20337.2. Orthopedic Devices7.3. Cardiovascular Devices7.4. Diagnostic Imaging7.5. IVD7.6. MIS7.7. Wound Management7.8. Diabetes Care7.9. Opthalmic7.10. Dental7.11. Nephrology7.12. General Surgery7.13. Others
8. Asia Pacific Medical Devices Market, By End User (USD Million)
8.1. Asia Pacific Medical Devices Market Value Share and Forecast, By End User, 2023-20338.2. Hospitals & ASCs8.3. Clinics8.4. Others
9. Asia Pacific Medical Devices Market Forecast, 2019-2033 (USD Million)
9.1. Asia Pacific Medical Devices Market Size and Market Share
10. Asia Pacific Medical Devices Market, By Type, 2019-2033 (USD Million)
10.1. Asia Pacific Medical Devices Market Size and Market Share By Type (2019-2026)10.2. Asia Pacific Medical Devices Market Size and Market Share By Type (2027-2033)
11. Asia Pacific Medical Devices Market, By End User, 2019-2033 (USD Million)
11.1. Asia Pacific Medical Devices Market Size and Market Share By End User (2019-2026)11.2. Asia Pacific Medical Devices Market Size and Market Share By End User (2027-2033)
12. Asia Pacific Medical Devices Market, By Region, 2019-2033 (USD Million)
12.1. Asia Pacific Medical Devices Market Size and Market Share By Region (2019-2026)12.2. Asia Pacific Medical Devices Market Size and Market Share By Region (2027-2033)12.3. China12.4. Japan12.5. India12.6. Australia12.7. Rest of Asia Pacific
13. Company Profile
13.1. Johnson & Johnson Services Inc.13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Lepu Medical Technology13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. Medtronic13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. NIHON KOHDEN CORPORATION13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Nipro Corporation13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Olympus Corporation13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Shenzhen Mindray Bio-Medical Electronics Co Ltd.13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Shimadzu Corporation13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Terumo Corporation13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Others
14. Reference Links
15. Conclusion
16. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Asia Pacific Medical Devices Market is projected to reach USD 220.88 billion by 2033, growing at a CAGR of 157.19% during the forecast period.
Asia Pacific Medical Devices Market size from 2022. The Market is expected to reach USD 220.88 billion by 2033, at a CAGR of 7.58% during the forecast period.
Asia Pacific Medical Devices Market CAGR of 7.58% during the forecast period.
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Asia Pacific Medical Devices Market size is USD 220.88 billion from 2023 to 2033.
Asia Pacific Medical Devices Market Segment is covered By Type, By End User.
The Asia-Pacific and Africa is anticipated to have the highest market share in the Asia Pacific Medical Devices Market.
"The key players in the market include Companies Covered Johnson & Johnson Services Inc., Lepu Medical Technology, Medtronic, NIHON KOHDEN CORPORATION, Nipro Corporation, Olympus Corporation, Shenzhen Mindray Bio-Medical Electronics Co Ltd., Shimadzu Corporation, Terumo Corporation, Others."
Multinational market players are being encouraged to increase their presence in the region in order to meet the growing demand and turn a profit by the aging population and rising medical supply consumption.
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