In comparison, other regions of the world are projected to be strong in medical device sales, but not quite as robust. In the United States, for example, medical device sales are projected to grow by 5% annually through 2021. The United Kingdom is projected to have 4.1% annual growth in medical devices, while Australia is projected to have 3.8% growth in its medical device market. Latin America is another strong medical device market, but like the others mentioned, it’s not growing quite at the level of Asia Pacific.

To give you a better idea of the countries you should focus your attention on, and the specific devices of interest, we took a closer look at the research. Here are the top-selling medical devices in various Asia Pacific nations.

#1 China

China has one of the strongest medical device markets in the world, with no sign of stopping. The upward trend that drove sales from $32.6 billion in 2013 to $56 billion in 2016 is projected to continue well into the future. Of the medical devices available in China, a recent report by Novotek China placed the emphasis on the following:

• Diagnostic imaging devices (CT scanners, X-rays, MRIs): 38% market share
• Medical supplies: 20% market share
• Orthopedics and implanted medical devices: 13% market share
• Dental implants and devices: 2% market share

#2 Japan

At 1.6% projected annual growth through 2021, Japan’s future medical device market is not as bullish as some others in Asia Pacific. But it’s still one of the largest markets in the region, and a lot of opportunities are available in Japan. Many medical devices are already manufactured in Japan, but U.S. providers would be wise to key on the following, according to a report from Maine International Trade Center:

• Pacemakers
• Advanced interventional cardiology products
• Orthopedic implants
• Laser surgical equipment
• Advanced diagnostic equipment

#3 India

Other than China, India is one of the fastest-growing medical device markets in the world. Overall, the medical device market in India was valued at $3.5 billion in 2015, at around $4.8 billion in 2019 and it is projected to continue to grow strongly well into the future. India relies heavily on imported medical devices, and here are the top areas that providers can focus on:

• Surgical instruments
• Cancer diagnostics
• Orthopedic and prosthetic equipment
• Imaging devices
• Orthodontic and dental implants

#4 Philippines

The Philippines is another market that’s worthy of attention. The country has strong population growth, steady economic growth and relies almost entirely on imported medical devices and equipment. According to Export.gov, the top devices in demand in the Philippines are:

• Imaging devices and technologies
• Dialysis machines
• Equipment for radiology, cardiology, lung and kidney exams
• Laboratory instruments

#5 South Korea

Though South Korea does manufacture some of its own medical devices and equipment, it still remains fairly reliant on imports. More than 64% of South Korea’s $6 billion medical device market is provided by importers such as the US, Japan and Germany. Here are the devices that import.gov recommends focusing on:

• Imaging devices, specifically CT scanners and MRIs.
• Catheters
• Dialysis machines
• Knee joint prostheses

#6 Thailand

Medical tourism is big business in Thailand, which is contributing to the growth of the medical market and the increased demand for medical devices. Of course, other factors are at play, as well, including an aging population with an increasing number of medical problems. As a result of these factors and more, Thailand’s medical device market is projected to grow at a rate of 8.5% to 10% per year. Here are the areas that device retailers should pay attention to:

• Cardiovascular devices
• Dental devices
• Neurological and surgical devices
• Orthopedic and fracture devices
• Therapeutic respiration devices
• Ultrasound and X-ray devices

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