Highlights from the 2022 APAC surgical device market briefing

Article tags General surgerySurgical deviceAsiaGeneral SurgerySurgical Gateway

Growth opportunities for surgical device companies are shifting to Asia Pacific (APAC), a region that is expected to be more resilient against headwinds as global economic recovery comes under threat. In 2021, 65% of global surgical device company executives say Asia will be the biggest source of growth in the next five years—almost half see “emerging Asia”, which includes India and South-East Asia, as a priority market. 

The executive lunch brief by Economist Intelligence Clearstate on 10 November 2022 discussed how covid-19 and global events are shaping the surgical demand landscape in APAC.

Highlights

1. Elective surgery volume is recovering, but remains below pre-pandemic levels

It will take until early 2024 to see elective surgery volume returning to pre-pandemic levels in APAC. Hospitals continue to face manpower challenges and capacity issues in clearing the large backlog of surgery cases.

2. Surgery care in APAC is decentralising

Covid-19 is accelerating decentralisation of surgery care in APAC. The shift in surgery care delivery will alleviate hospitals overloaded with surgery cases.

3. Asian medtech companies are capturing an increasingly larger share of the region’s surgical device market

With procurement policies turning more protectionistic and cost-conscious in the region, surgical products and solutions from China, India and South Korea have grown considerably to capture a larger share in Southeast Asia markets. 

Asia’s medtech companies including Chinese and South Korean surgical device firms are investing in high-performance surgical segments such as robotic surgery equipment and systems.

Wed, 07th Dec 2022 Article tags General surgerySurgical deviceAsiaGeneral SurgerySurgical Gateway