Endoscopic Devices - APAC

APAC

Highlights

Revenue in the Endoscopic Devices market market in APAC is projected to reach US$6.11bn in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.94%, leading to a market volume of US$8.95bn by 2029.
In a global context, the majority of revenue will be generated the United States, with a forecasted amount of US$10.39bn in 2024.
The APAC region is witnessing a surge in demand for innovative endoscopic devices, driven by advancements in minimally invasive surgical techniques and rising healthcare investments.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Endoscopic Devices Market within the Medical Devices sector in APAC is witnessing moderate growth, influenced by factors such as technological advancements, increasing prevalence of chronic diseases, and the rising demand for minimally invasive procedures among healthcare providers.

Customer preferences: Consumers in the APAC Endoscopic Devices Market are increasingly prioritizing minimally invasive surgical options, reflecting a cultural shift towards faster recovery and reduced hospital stays. This preference is further influenced by an aging population and rising health awareness, prompting individuals to seek advanced medical technologies. Additionally, younger demographics are driving demand for innovative, tech-integrated procedures, as they value efficient healthcare solutions. As a result, healthcare providers are adapting their offerings to align with these evolving consumer expectations for quality and convenience.

Trends in the market: In the APAC Endoscopic Devices Market, there is a notable surge in demand for robotics-assisted surgeries, as healthcare facilities invest in advanced technologies to enhance precision and minimize invasiveness. Countries like Japan and South Korea are leading this trend, integrating AI-driven solutions to improve surgical outcomes. Additionally, there is an increasing focus on training programs for healthcare professionals to ensure proficient use of these advanced devices. This trend signifies a shift towards technology-centric healthcare, prompting industry stakeholders to innovate and collaborate closely with medical institutions to meet the evolving needs of patients and providers alike.

Local special circumstances: In the APAC Endoscopic Devices Market, factors such as varying healthcare infrastructure and cultural attitudes towards surgery play a critical role in shaping market dynamics. Countries like China emphasize cost-effective solutions, fostering the growth of locally manufactured endoscopic devices. Meanwhile, in Australia, stringent regulatory standards ensure high quality and safety, impacting the speed of market entry for new technologies. Additionally, cultural beliefs surrounding minimally invasive procedures influence patient acceptance, driving demand for advanced endoscopic solutions tailored to local preferences.

Underlying macroeconomic factors: The APAC Endoscopic Devices Market is significantly influenced by macroeconomic factors such as national economic stability, healthcare expenditure, and technological advancements. Countries with robust economic growth, like India and China, are investing heavily in healthcare infrastructure, leading to increased adoption of endoscopic technologies. Conversely, regions facing economic downturns may prioritize cost-cutting measures, impacting device procurement. Additionally, fluctuating currency exchange rates can affect the pricing of imported devices. Furthermore, supportive fiscal policies and government initiatives aimed at enhancing surgical outcomes foster demand for innovative endoscopic solutions, ultimately shaping market dynamics across the region.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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Medical technology industry - statistics & facts

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.