Asia-Pacific Therapeutic Devices Market Outlook, 2028

Asia-Pacific Therapeutic Devices Market Outlook, 2028

The Asia-Pacific therapeutic device market is undergoing a revolutionary wave, characterised by rapid technical breakthroughs, rising healthcare expenditures, and altering healthcare infrastructures. This diversified region includes a number of countries, each of which contributes something special to the developing market for therapeutic devices. Several factors contribute to the therapeutic device market's expansion. Rising chronic illness prevalence, demographic shifts towards an ageing population and changing lifestyles all contribute to an increase in demand for improved treatment devices. Additionally, the region's expanding middle-class population and greater access to healthcare services are driving the industry ahead. Government activities targeted at improving healthcare infrastructure and boosting technology innovation are also critical to industry growth. The therapeutic device market in Asia-Pacific countries exhibits various patterns. Precision medicine, robotics in surgery, and developments in medical imaging technology, for example, are being prioritised in nations such as Japan and South Korea, which are known for their technological ability. Emerging economies such as India and China, on the other hand, are seeing greater adoption of mobile health solutions, wearable devices, and the expansion of healthcare access through telemedicine. In countries such as China, Japan, and India, increased healthcare spending has expanded access to innovative therapies and medical technology. However, gaps in healthcare infrastructure and access exist throughout these countries, making it difficult to ensure equitable access to therapeutic devices for all sectors of the population. The Asia-Pacific region has developed as a major manufacturing hub for medical devices.

According to the research report ""Asia-Pacific Therapeutic Device Market Outlook, 2028,"" published by Bonafide Research, the Asia-Pacific Therapeutic Device market is expected to grow with more than 7% CAGR from 2023 to 2028. Countries such as China, Japan, South Korea, and Singapore play critical roles in the global supply chain, manufacturing a wide range of therapeutic devices such as diagnostic imaging equipment, cardiovascular devices, orthopaedic implants, and more. This manufacturing prowess not only meets domestic needs but also facilitates global distribution. Therapeutic device markets in emerging nations such as India, Indonesia, and Vietnam are expanding rapidly. Market expansion is being driven by factors such as rising healthcare spending, expanding middle-class populations, and government measures to increase healthcare access. These countries provide substantial potential for market expansion and healthcare infrastructure investment. The Asia-Pacific area is also a major centre for therapeutic device development and production. The region is home to a variety of multinational corporations as well as local manufacturers. A number of research organisations and universities in the region are also performing cutting-edge research on medicinal devices. Asia-Pacific is a pioneer in the development of minimally invasive surgical instruments. These technologies allow for smaller incisions and less trauma during surgery than standard surgical approaches. The medical landscape in the Asia-Pacific region differs from that of Western countries, resulting in distinct market demands. Certain diseases, for example, have a higher prevalence, such as diabetes, cardiovascular disease, and respiratory problems. Specific therapeutic equipment, such as insulin pumps, cardiac implants, and respiratory support systems, is in high demand. The Asia-Pacific therapeutic device market is expected to grow rapidly as a result of technological advances, increased healthcare investments, and a shift towards value-based care. The region's commitment to innovation, combined with a growing emphasis on preventative healthcare and the adoption of novel technology, makes it a vital player in defining the global therapeutic device industry's future.

Based on report market is categorised in five major countries including, China, Japan, India, Australia and South Korea. Japan is one of the major players of therapeutic device in Asia-Pacific region.

Japan's healthcare industry has historically fostered innovation, and the therapeutic device market illustrates the country's commitment to cutting-edge technology and patient well-being. As a result of great research, strong regulatory frameworks, and a healthcare system focused on precision and quality, Japan has risen to a significant position in the global therapeutic device market. The country boasts a rich tapestry of R&D initiatives that are bolstered by collaboration among academic institutions, business leaders, and government officials. This collaboration has contributed to the creation of revolutionary therapeutic devices, ranging from improved diagnostic tools to cutting-edge treatment choices. The regulatory environment for medical devices in Japan is well-known for its strict yet adaptive framework. The role of the Pharmaceuticals and Medical Devices Agency (PMDA) is crucial in ensuring that safety, efficacy, and quality standards are satisfied before these products are released to the public. Japan has a highly developed healthcare system that is noted for its outstanding patient care and safety requirements. The country places a high value on adopting and utilising cutting-edge medical technologies and treatment equipment. This dedication to high-quality healthcare fuels demand for innovative gadgets that meet demanding safety and efficacy standards. Japan confronts demographic issues as its population ages. The prevalence of age-related diseases and chronic ailments has increased, prompting an increase in the demand for therapeutic devices to address these health issues. This demographic transition offers a sizable market for elderly-care technologies such as cardiac implants, orthopaedic devices, and medical imaging equipment for age-related illnesses.

In terms of product market is divided into insulin delivery devices, dialysis equipments, IV equipments, wound care management, and others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids). Ventilators product type is expected to grow at rapid pace in Asia-Pacific therapeutic device market.

The Asia-Pacific region is heavily investing in strengthening its healthcare infrastructure. This involves increasing the number of critical care units (ICUs), expanding hospital facilities, and improving emergency medical services. Ventilators are critical equipment in these environments, which is driving their growing use. Several Asian countries, including Japan, South Korea, and China, are experiencing fast population ageing. As people age, the prevalence of respiratory diseases and conditions such as chronic obstructive pulmonary disease (COPD) and pneumonia increases, necessitating the use of ventilators for respiratory support. Many Asian countries' urbanisation and industrialization have resulted in increased pollution and respiratory difficulties among the people. Ventilators are becoming increasingly important in the treatment of people suffering from respiratory illnesses exacerbated by environmental conditions. Governments in Asia-Pacific are focusing on improving their healthcare systems. A lot of have established policies, investments, and activities to expand healthcare access, including the procurement of critical medical devices such as ventilators to meet their populations' healthcare demands. Ventilator technological advancements, such as portable and more user-friendly devices, have made them more accessible and versatile for usage in a variety of healthcare settings, adding to their fast adoption.

Based on end user market is bifurcated into hospitals and clinics, home care settings, ambulatory care centers (ACCs) and other end user. Home care settings end user segment is projected to grow with significant pace in Asia-Pacific market. Furthermore based on indication market includes wound care, diabetes, respiratory diseases, cardiovascular disorders & hypertension, cancer, pregnancy, hearing disorders, movement disorders and other indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV).

The Asia-Pacific region's demographics are shifting towards an ageing population. Older people frequently prefer to receive care in the privacy of their own homes. As the population of seniors expands, so does the demand for home-based healthcare services and medical devices that assist home care, such as portable oxygen concentrators, home ventilators, and remote monitoring systems. Diabetes, hypertension, respiratory disorders, and cardiovascular disease are all on the rise in the region. Because many of these disorders necessitate ongoing monitoring and management, home care settings are more appealing to patients who prefer convenience and independence in managing their health conditions. Patients increasingly prefer to receive care in familiar and comfortable settings. This preference for personalised care at home, combined with developments in remote monitoring technologies, promotes the shift to home care settings. Home care settings can save money for both patients and healthcare systems. Home-based care minimises hospital stays, reduces healthcare costs, and relieves strain on healthcare institutions. Governments and insurers in the Asia-Pacific region recognise the cost benefits of home care and support initiatives that encourage its growth. There is significant increase of therapeutic device in diabetes and caner indication in Asia-Pacific region and is significantly propelling the Asia-Pacific therapeutic market.

Companies Covered in this report:

Novo Nordisk A/S , Sanofi S.A., Medtronic plc , Terumo Corporation, Becton, Dickinson and Company, F. Hoffmann-La Roche AG,, B. Braun Melsungen AG, Baxter International Inc., Nipro Corporation, Fresenius Medical Care AG & Co. KGaA, WS Audiology A/S, Koninklijke Philips N.V.

Considered in this report:

• Geography: Asia-Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Asia-Pacific Therapeutic Device market Outlook with its value and forecast along with its segments
• Country-wise Therapeutic Device market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Product:

• Insulin Delivery Devices
• Dialysis Equipments
• IV Equipments
• Wound Care Management
• Others (ventilators, sleep apnea therapeutic device, respiratory care, hearing aids)

By End User:

• Hospitals and Clinics
• Home Care Settings
• Ambulatory Care Centers (ACCs)
• Other End User

By Indication:

• Wound Care
• Diabetes
• Respiratory Diseases
• Cardiovascular Disorders & Hypertension
• Cancer
• Pregnancy
• Hearing Disorders
• Movement Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Therapeutic Device industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

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