Major global and regional MedTech companies
U.S. companies Abbott, Medtronic, and Johnson & Johnson are the leading MedTech companies in the world. They also play a significant role across Asia-Pacific markets, both as major importers and with subsidiaries across the region. Some of the most impactful local companies in APAC include Olympus, Terumo, Mindray, Samsung Medison, and Sonic Healthcare. The region is a hub for healthcare innovation, currently being home to over 30 health technology unicorns, most of them located in China.Medical devices trade (im)balance across APAC
Despite being two of the largest medical device markets in the world, China and Japan are among the lowest-ranking APAC countries in terms of trade balances for medical and surgical devices. China imports billions worth of high-end MedTech devices annually, with medical diagnostic and treatment equipment being the leading important category. Malaysia and Singapore have the most positive trade balances for medical devices in APAC, and Southeast Asian neighbors Vietnam and Thailand also rank highly. Thailand is a major exporter of disposable devices, making up over 85 percent of the country's medical supplies exports.Innovations in the MedTech field
Alongside the COVID-19 pandemic, rising internet and smartphone penetration rates have boosted the adoption of telehealth in APAC. Telehealth describes digital health services that connect health care providers and their patients via smartphones or PCs. While telehealth bears many benefits, such as shorter waiting times and better accessibility, comfort levels with telehealth consultations still vary among consumers across the region.Currently valued at 429 million U.S. dollars, the 3D printing medical devices market is one of the fastest-growing MedTech segments and is set to reach an APAC market size of over one billion dollars in 2028. 3D printing in the health care sector is utilized in the production of high-precision devices including surgical instruments and orthopedic implants.
In general, the MedTech industry's growth trajectory in the APAC region will be highly dependent on policies facilitating approval processes for new or improved devices. Many governments of the fast-developing MedTech markets in Southeast Asia have introduced medical technology as one of their focus areas over the next years.
