If you don't have a plan to get into the Asia Pacific market yet, now is the time to look at the region carefully. The Asia Pacific market is valued at $55 billion, about a quarter of the total $230 billion medtech market.
The UBM Canon Medtech World team, which includes MD+DI put this infographic together from trusted sources to show the various opportunities in different medical technology sectors.
Obviously, looking at importing to China, particularly for diagnostic imaging (which accounts for 43% of the market) and disposable devices (18% of the market), is a great place to start. But notice that Malaysia and Vietnam are big importers, reaching 90% and 87% imports each year, respectively.
And one more key idea from the graphic below: keep your patents up to date. Companies based in Japan lead the region in patent filing.
The lesson here is clear: ignore the Asia Pacific market at your peril.
1. Indonesia
Papuanew Guinea
Sri Lanka
China
India
Thailand
Malaysia
Philippines
Hong Kong
Taiwan
Japan
Mongolia
Australia
New Caledonia
Solomonislands
New Zealand
Vanuatu
0
500M
1000M
1500M
2000M
0
5B
10B
15B
20B
25B
Asia-Pacific MedTech Market
KEY STATISTICS
POPULATION, GDP, and TRADE
The Asia Pacific (APAC)
medical devices market will
grow more than 10% over
the next three years. This is higher
than the projected global sector
growth of 6 percent.
Within 9 years, the
Asian cardiovascular device
market is expected to increase from
29% of the global market to 38%.
The Asia-Pacific medical
device market is expected
to grow at a compound
annual growth rate (CAGR) of
9.6%, to reach $71 billion
by 2015.
The APAC medical devices
market is estimated at $55
billion which is about a
quarter of the global medical
devices market, valued at
more than $230 billion.
ubmcanon.com/medical
More than 60% of the world’s
population lives in the Asia-Pacific
region, 4.2 billion people
Population by Region
International Trade (% of GDP)
Real GDP per Capita (2005 US dollars)
Eastand
N
orth-EastA
siaSouth-EastA
sia
South
and
South-W
est
N
orth
and
C
entralA
sia
P
acific
Eastand
N
orth-EastA
siaSouth-EastA
sia
South
and
South-W
est
N
orth
and
C
entralA
sia
P
acific
4.2
Billion
$37.6
Trillion
Healthcare equipment and
supplies market (Asia Pacific)
Key Medical Device Markets
in China
East and North-East Asia
Exports Imports
of Malaysia’s medical
devices are imported
More than
Approximately
South-East Asia
South and South-West Asia
North and Central Asia
Pacific
of the medical
devices in Vietnam
are imported, with up
to half coming from
Japan, Singapore
and China
of medical devices in
India are imported
Roughly
of the medical
devices in Thailand
are imported
The Vietnamese medical
device market is worth
$390 billion.
North Asia accounts for
17% of global
pharmaceutical
production
The medical device market in India was
worth an estimated $3.2 billion in 2011,
trailing only Japan, China and South
Korea in Asia. The medical device
market is currently about 6% of the
overall $68 billion Indian healthcare
market. It is poised to grow
approximately 16% annually, reaching
$5.2 billion by 2015.
India’s diagnostics sector is forecasted to
grow at about 20% over the next 3 years.
Thailand has suffered horrible floods, a political coup and
months of street protests. Nonetheless, the $1.5 billion medical
device market actually grew at a rate of 9% each year.
India, Central Asia, and South Asia account for 9.2% of
global pharmaceutical production
Cardiovascular devices account for almost a third of the total medical
device market, $3.5 billion.
Diagnostic
Imaging
43%
Disposables
18%
Implants
17%
Other
12%
Cardiovascular
Technology
10%
Disposable
Equipment and
Supplies
Technical Aids
IV Diagnostics
Other
Equipment
Ophthalmic
Equipment
Dental Surgery
Equipment
and Supplies
37.5%
15.9%
15.8%
9.5%
12.1%
9.2%
Source: Datamonitor, 2009 Source: Pacific Bridge Medical, 2011
Source: IP Solutions, 2012
Source: United Nations Economic and
Social Commission for Asia and the Pacific, 2012
Source: United Nations Economic and
Social Commission for Asia and the Pacific, 2012
Source: United Nations Economic and Social
Commission for Asia and the Pacific, 2012
Medical Device patent volume grew by
12% from 2010 and 2011—among the
sharpest growth of all technology areas.
The industry’s greatest single source of
new patent activity came from the cat-
egory of Diagnosis & Surgery (34%), with
22,864 global patents in 2011.
22,864 Global
Patents
90%
87%
72%
67%
Japan
Toshiba
Corporation
Japan
FUJIFILM
Holdings
Corporation
Japan
Olympus
Medical
Systems
Corporation
Japan
Hoya
Corporation
Japan
Canon, Inc.
Japan
Hitachi
Medical
Computer
Systems, Inc.
Japan
Konica
Minolta
Holdings, Inc.
Japan
Terumo
Corporation
Korea
Samsung
Medison
Japan
Panasonics
Corporation
Top 10 Asia-Pacific Patent Assignees