Asia Century: Unparalleled Opportunities for Medical Equipment Suppliers
Asia Pacific offers unparalleled opportunities for medical device players that are willing to rethink their business models and introduce market-appropriate products. Demand for medical and surgical equipment will continue to be spurred by the rapid expansion of the healthcare sector and rising household purchases in light of increasing annual disposable incomes, an expanding middle class, and growing incidence of age-related diseases. China will lead growth as, despite the economic slowdown, government authorities have showed determination to increase healthcare coverage and improve the population’s access to hospitals and clinics.
The medical and surgical equipment market in Asia Pacific has proved to be difficult to enter for global medical device suppliers, as besides geographical location, there is not much else that unites the region. The countries all vary in terms of their demographic profiles, healthcare systems, regulatory environments and even development levels. Companies have also been challenged by complex regulatory procedures, the complicated process of medical device tendering, different working cultures, and high service and quality expectations.