Forging a path for MedTech Innovation.
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn moreDeveloping IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn moreDeveloping IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn moreDeveloping IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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SEARCH JOBSThe Asia-Pacific region (APAC) is now the fastest growing medical device region in the world, and is expected to outgrow Europe to become the second largest medical technology (Medtech) market by 2020. This trend is being driven by demographic changes, economic growth and a maturing healthcare landscape.
As the APAC Medtech market grows, innovation is on the rise, as demonstrated by the advent of transformational technologies such as structural heart devices, mobilized exoskeletons and 3D-printed implants. However, the race for the next game-changer sees two types of players emerge in this intensifying environment: local companies with global ambitions (LCGAs), looking to expand to new markets, and large multinational corporations (MNCs), competing for market share. With the region at stake, both groups of market players will need to navigate the complexities of this heterogeneous landscape, devising business models that leverage their strengths while adapting to the needs of the region.
APAC is home to nearly 4.4 billion people: 60% of the world’s population6. By 2025, 1.1 billion people in APAC will be over the age of 50, and rising affordability will see half of the population join the consuming class 7 . There is greater need for healthcare, greater desire for it thanks to digital communications and the democratization of information, and greater ability to afford it. Simply put, Asia is too big to ignore.
In this paper, we explore different forms of innovation that are emerging within the APAC medical device market and the evolving roles that both LCGAs and MNCs are carving out for themselves. We will outline opportunities and challenges for players looking to win in this space.
Forging a path for MedTech Innovation.
Technology-driven solutions tailored for MedTech.