General & Plastic Surgery Devices - Taiwan

The General & Plastic Surgery Devices market market in Taiwan is forecasted to achieve a revenue of US$133.20m by 2024.
It is anticipated that the revenue will exhibit a Compound Annual Growth Rate (CAGR) of 6.09% from 2024 to 2029, leading to a market volume of US$179.10m by 2029.
In terms of global comparison, the United States is projected to generate the highest revenue of US$9.84bn in 2024.
Taiwan's General & Plastic Surgery Devices market is thriving, with a strong focus on innovation and technological advancements.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in Taiwan has been experiencing steady growth in recent years.

Customer preferences: Customers in Taiwan have shown a growing interest in general and plastic surgery procedures, leading to an increase in demand for related devices. This can be attributed to several factors, including the influence of Korean beauty trends and the desire for a more youthful appearance. Taiwanese consumers are increasingly seeking out procedures such as breast augmentation, rhinoplasty, and liposuction, which require the use of specialized devices.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in Taiwan is the adoption of minimally invasive procedures. This trend is driven by the desire for less downtime and faster recovery, as well as advancements in technology that allow for more precise and effective procedures. As a result, there has been a growing demand for devices such as laser systems, energy-based devices, and injectable fillers. Another trend in the market is the increasing popularity of non-surgical treatments. Taiwanese consumers are increasingly opting for non-invasive procedures such as Botox injections and dermal fillers to address common concerns such as wrinkles and sagging skin. This trend is driven by the convenience and relatively low cost of these treatments compared to surgical options.

Local special circumstances: Taiwan has a well-developed healthcare system and a high standard of medical care, which has contributed to the growth of the General & Plastic Surgery Devices market. The country has a large number of well-trained and experienced plastic surgeons, who are able to provide high-quality care to patients. Additionally, Taiwan has a strong medical tourism industry, with many international patients traveling to the country for cosmetic procedures. This has further fueled the demand for General & Plastic Surgery Devices.

Underlying macroeconomic factors: The growth of the General & Plastic Surgery Devices market in Taiwan can also be attributed to favorable macroeconomic factors. The country has a strong economy and a high level of disposable income, which allows consumers to spend more on healthcare and cosmetic procedures. Additionally, Taiwan has a rapidly aging population, which is driving the demand for anti-aging treatments and procedures. In conclusion, the General & Plastic Surgery Devices market in Taiwan is experiencing steady growth due to customer preferences for general and plastic surgery procedures, the adoption of minimally invasive and non-surgical treatments, local special circumstances such as a well-developed healthcare system and medical tourism industry, and underlying macroeconomic factors such as a strong economy and an aging population.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

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.