Asia Pacific Medical Devices Market
Published On: Mar 2021
Published On: Mar 2021
Ophthalmology Devices Segment to Grow at Faster Pace During Forecast Period
According to a new market research study of “Asia Pacific Medical Devices Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Product Type, and Function, and End User,” the Asia Pacific medical devices market is projected to reach US$ 1,46,161.68 million by 2027 from US$ 82,801.96 million in 2019. The market is estimated to grow at CAGR of 7.4% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific medical devices market and the factors driving market along with those that act as hindrances.
The Asia Pacific medical devices market, based on product type, is further segmented into in vitro diagnostics (IVD) devices, surgical devices, general medical devices, cardiovascular devices, orthopedic devices, infection control devices, ophthalmology devices, endoscopy devices, neurological devices, others. The Surgical Devices segment held a larger share of the market in 2019. However, the ophthalmology devices segment is estimated to register a higher CAGR during the forecast period owing to rapid product approvals and launches during the forecast period.
The Asia Pacific medical devices market is expected to grow owing to the growing medical device industry in the region. However, challenges in medical device industry is likely to restrain the growth of the market during the forecast period.
Leading companies operating in the medical devices market are 3M, Braun Melsungen AG, Boston Scientific Corporation, Abbott and Medtronic among others.
The report segments Asia Pacific Medical Devices Market as follows:
By Product Type
By Function
By End User
By Country
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