Rising medical tourism is escalating the Asia-Pacific medical device technology market

Asia-Pacific medical device technology market is projected to grow at a significant CAGR of around 3.5% during the forecast period (2020-2026). Rising medical tourism has been witnessed across several countries. In Asia, Thailand, Singapore, Malaysia, India, and Philippines are the major destinations in the medical tourism market. In India, the major factors leading to the rise in medical tourism include the increasing presence of multi-specialty hospitals and skilled medical professionals. Low-cost treatment and better-quality healthcare are further supporting the growth of the Indian medical tourism. This, in turn, is expected to rise the demand for medical device technology market in the region. 

Browse the full report description Asia-Pacific Medical Device Technology Market Size, Share & Trends Analysis Report by Device Type (In Vitro Diagnostics Devices, Diagnostic Imaging Devices, Cardiology Devices, Ophthalmology Devices, Orthopedic Devices, and Others) and Forecast 2020-2026 at https://www.omrglobal.com/industry-reports/asia-pacific-medical-device-technology-market

Players in the healthcare ecosystem in Singapore are employing technologies including robotics and automation to free up nurses from repetitive, manual tasks and surgeries. Singapore offers several benefits which include advanced treatment standards, associated with medical tourism. In India, the Joint Commission International (JCI) - accredited hospitals are 21 and are growing significantly. India competes mainly with Thailand and Singapore for medical tourism in Asia-Pacific. Apart from this, increasing focus on the opening of new super-specialty hospitals in India is further creating an opportunity for medical tourism, which is further expected to drive the medical device technology market in the region.

Market Coverage

Key questions addressed by the report

• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in base year?
• Which segment/region will project fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?

o Recovery Timeline

o Deviation from pre-COVID 

o Most affected region/segment

o Recommendations 

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Asia-Pacific Medical Device Technology Market – Segmentation

By Product Type

• In Vitro Diagnostics Devices
• Diagnostic Imaging Devices
• Cardiology Devices
• Ophthalmology Devices
• Orthopedic Devices
• Others (Endoscopy Devices and Respiratory Care Devices)

Asia-Pacific Medical Device Technology Market – Segmentation by Geography

• China
• Japan
• India
• Rest of Asia-Pacific