A review of the status and prospects of key markets in India, Thailand, Indonesia and Vietnam.
While Western countries still have more medical device startups than the rest of the world, more new medtech startups are popping up in Asia than ever before.
With the increase of diabetes prevalence in Asia and the rise of Asia’s middle classes, the demand for newer and better treatments will provide opportunities for Western medtech companies.
As standalone software becomes increasingly sophisticated, a number of regulatory bodies have begun to draft separate guidelines to ensure quality control, expedite product approval, and improve patient access to new technologies.
Global sports medicine is predicted to grow to around $35 billion by 2022, with the Asian market growing at a compound annual growth rate of nearly 7 percent.
Low-cost production centers make these markets an attractive option for manufacturing.
The booming industry is creating new opportunities for medtech manufacturers.
The rise in healthcare spending, jump in Western diseases, and increasing aging population are driving the market.
Achieving success in India involves patience and a firm grasp on the culture and regulatory environment.
As the incidence of diabetes across Asia expands, demand for medical devices and drugs to treat the disease is intensifying.