Medical Technologies Market in the APAC Region 2015-2019
About Medical Technology
Medical technology refers to the software solutions, medical devices, imaging, and diagnostic equipment used to ensure good health. The Medical Technologies market in the APAC region covers hospital hardware; technical aids for the disabled; reusable instruments; laboratory equipment; complementary therapy devices; healthcare facility products and adaptations; biologically derived devices; and technologies such as active implantable, anesthetic and respiratory, IVD, dental, electromechanical medical, non-active implantable, ophthalmic and optical, single use, and diagnostic and therapeutic radiation.
TechNavio's analysts forecast the Medical Technologies market in the APAC region to grow at a CAGR of 9.87 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Medical Technologies market in the APAC region for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of preventive, diagnostic, treatment, alleviating, and monitoring technologies; healthcare software; and in vitro diagnostics used in diseased, injured, or handicapped people. The report also covers technologies for investigation, replacement, or modification of anatomy and physiology such as left ventricular assist devices, robotic-assisted surgery, diagnostic imaging services, cervical disc replacements, transcatheter valve replacements, intraocular lenses, renal denervation, mobile health, and molecular diagnostics. The scope of this report excludes contract manufacturing organizations, contract research organizations and technologies that primarily act by exerting metabolic, immunological, or pharmacological actions.The report also presents the vendor landscape and a corresponding detailed analysis of the top six vendors in the Medical Technologies market in the APAC region. In addition, it discusses the major drivers that influence growth and the challenges faced by the vendors and the market at large, as well as the key trends that contribute to the growth of the market.Key Countries
TechNavio Announces the Publication of its Research Report – Medical Technologies Market in the APAC Region 2015-2019
TechNavio recognizes the following companies as the key players in the Medical Technologies Market in the APAC Region: Becton, Dickinson and Co. (BD), GE Healthcare, Johnson & Johnson, Medtronic Inc., Roche Diagnostics and Siemens Healthcare Diagnostics Inc.
Other Prominent Vendors in the market are: Alere, B. Braun Melsungen, Baxter International, Boston Scientific, Danaher, Edwards Lifesciences, Essilor International, Getinge, Hoya, Nidek, Novartis, NuVasive, Koninklijke Philips, Sanofi, Shimadzu, Smith & Nephew, St. Jude Medical, Stryker, Sysmex, Terumo, The Cooper Companies, Thermo Fisher Scientific, Topcon, Toshiba and Zimmer Holdings.
Commenting on the report, an analyst from TechNavio’s team said: “One key trend upcoming in this market is the emergence of user-friendly technologies, which reduce the number of hospital visits and help in the close monitoring of a patient’s physiological parameters. The emergence of user-friendly technologies permits the frequent evaluation of these parameters without any assistance from a physician.”
According to the report, an increase in the aging population is one of the major drivers of the market. Elderly people require frequent monitoring and are more susceptible to debilitating diseases. Older age groups require more care such as assistance during hospital visits and frequent evaluation of physiological parameters such as blood pressure and heart rate, leading to an increase in healthcare costs.
Further, the report states that one of the main challenges in the market is an increase in pricing pressures. Low budget allocations for medical technologies have increased the pricing pressure on technology vendors. This, in turn, might decrease the market share of key vendors.
BD, GE Healthcare, Johnson & Johnson, Medtronic , Roche Diagnostics, Siemens Healthcare Diagnostics , Alere , B. Braun Melsungen , Baxter International , Becton, Dickinson , Boston Scientific, Danaher , Edwards Lifesciences, Essilor International, Getinge , Hoya, KoninklijkePhilips , Nidek , Novartis , NuVasive , Sanofi , Shimadzu , Smith & Nephew, St. Jude Medical , Stryker , Sysmex , Terumo , The Cooper Companies, Thermo Fisher Scientific, Topcon, Toshiba, Zimmer Holdings