Asia-Pacific medical device market gets healthier
The Asia Pacific (APAC) medical devices market will grow more than 10 percent over the next three years. This is higher than the projected global sector growth of 6 percent. APAC’s growth in medical devices will be driven by healthcare service providers’ demand for safe, reliable and cost-effective medical treatments, as well as consumers demanding better medical products.
The APAC medical devices market is estimated at $55 billion. This is about a quarter of the global medical devices market, valued at more than $230 billion. Medical devices manufacturers are expected to increase revenues in APAC from diseases related to diabetes, cardiovascular, orthopedic and infectious diseases.