Orthopedic Devices - Southeast Asia

  • Southeast Asia
  • The projected revenue in the Orthopedic Devices market market in Southeast Asia is estimated to reach US$1.05bn by 2024.
  • It is expected to experience an annual growth rate (CAGR 2024-2029) of 6.67%, leading to a market volume of US$1.45bn by 2029.
  • When compared globally, the United States is anticipated to generate the highest revenue, amounting to US$16,020.00m in 2024.
  • In Southeast Asia, the demand for orthopedic devices is rapidly increasing due to the region's aging population and rising prevalence of chronic diseases.

Key regions: France, Netherlands, Europe, Germany, Japan

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Orthopedic Devices market in Southeast Asia is experiencing significant growth and development due to several factors. Customer preferences in the region are driving the demand for orthopedic devices. As the population in Southeast Asia continues to age, the prevalence of chronic diseases and musculoskeletal disorders is increasing. This has led to a higher demand for orthopedic devices such as joint implants, spinal devices, and orthobiologics. Additionally, there is a growing awareness among consumers about the benefits of these devices in improving mobility and quality of life. As a result, more individuals are seeking orthopedic treatments and surgeries, further fueling the demand for orthopedic devices. Trends in the market indicate a shift towards minimally invasive procedures and advanced technologies. Patients in Southeast Asia are increasingly opting for minimally invasive surgeries, which offer shorter recovery times and reduced post-operative complications. This has led to a higher demand for orthopedic devices that are compatible with these procedures, such as arthroscopy instruments and robotic-assisted surgical systems. Furthermore, advancements in technology have led to the development of innovative orthopedic devices, such as 3D-printed implants and smart implants that can monitor and adjust to the patient's condition. These technological advancements are driving the growth of the orthopedic devices market in Southeast Asia. Local special circumstances in Southeast Asia also contribute to the development of the orthopedic devices market. The region has a large population, with countries like Indonesia and the Philippines having a combined population of over 300 million people. This provides a significant market potential for orthopedic device manufacturers. Additionally, the healthcare infrastructure in the region is improving, with increased investments in healthcare facilities and the training of healthcare professionals. This has resulted in better access to orthopedic treatments and surgeries, further driving the demand for orthopedic devices. Underlying macroeconomic factors also play a role in the development of the orthopedic devices market in Southeast Asia. The region has been experiencing steady economic growth, leading to an increase in disposable income and healthcare expenditure. This allows individuals to afford orthopedic treatments and devices. Furthermore, the presence of a growing middle class in the region has led to an increase in medical tourism, with patients from neighboring countries seeking orthopedic treatments in Southeast Asia. This has created a lucrative market for orthopedic device manufacturers. In conclusion, the Orthopedic Devices market in Southeast Asia is developing rapidly due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The increasing demand for orthopedic devices, the shift towards minimally invasive procedures and advanced technologies, the large population and improving healthcare infrastructure in the region, and the steady economic growth and rising healthcare expenditure are all contributing to the growth and development of the orthopedic devices market in Southeast Asia.

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.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)