Market Introduction
A medical device can be a machine, instrument, apparatus, an article that is used to diagnose, monitor, and therapeutic purposes. A medical device plays an essential role, such as detection, measurement, restoration, and modification of the structure or a function of the body due to health problems or chronic medical conditions. There are various types of medical devices, which include glasses, pacemakers, wheelchairs, X-ray machines, MRI, CT scans, and many more. These medical devices are categorized into four classes, such as I, IIa, IIb, and III. The categories of the medical devices are based on the Food and Drug Administration and CE marking. The organizations have categorized class I as low-risk medical devices and class III high-risk medical devices.
Market Overview and Dynamics
The Asia Pacific medical devices market is expected to reach US$ 1,69,735.1 Mn in 2027 from US$ 97,281.63 Mn in 2018. The market is anticipated to grow with a CAGR of 6.7% from 2019-2027. Factors driving the market growth include initiatives by growing medical device industry. However, challenges in medical device industry is likely to have a negative impact on market growth.
Key Market Segments
By product type, the in vitro diagnostics (IVD) segment accounted for the largest market share in the Asia Pacific medical devices market in 2018. In terms of function, the diagnostic and monitoring segment held the largest market share of the medical devices market by 2027. Based on the end user, the hospital segment held the largest share of the Asia Pacific medical devices by 2019.
Major Sources and Companies Listed
Some of the major primary and secondary sources for medical devices market included in the report are, Australian Dental Industry Association (ADIA), Association of Indian Medical Device Industry (AiMeD), Australian Regulatory Guidelines for Medical Devices (ARGMD), CDC, FDA and among others.
Reasons to buy the report
ASIA PACIFIC MEDICAL DEVICES MARKET SEGMENTATION
By Product Type
By Function
By End User
By Geography
• Asia Pacific
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 97,281.63 Million |
| Market Size by 2027 | US$ 1,69,735.1 Million |
| CAGR (2019 - 2027) | 6.7% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Medical Devices Market is valued at US$ 97,281.63 Million in 2018, it is projected to reach US$ 1,69,735.1 Million by 2027.
As per our report Asia Pacific Medical Devices Market, the market size is valued at US$ 97,281.63 Million in 2018, projecting it to reach US$ 1,69,735.1 Million by 2027. This translates to a CAGR of approximately 6.7% during the forecast period.
The Asia Pacific Medical Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Medical Devices Market report:
The Asia Pacific Medical Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Medical Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Medical Devices Market value chain can benefit from the information contained in a comprehensive market report.
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