If you don't have a plan to get into the Asia Pacific market yet, now is the time to look at the region carefully. The Asia Pacific market is valued at $55 billion, about a quarter of the total $230 billion medtech market.
The UBM Canon Medtech World team, which includes MD+DI put this infographic together from trusted sources to show the various opportunities in different medical technology sectors.
Obviously, looking at importing to China, particularly for diagnostic imaging (which accounts for 43% of the market) and disposable devices (18% of the market), is a great place to start. But notice that Malaysia and Vietnam are big importers, reaching 90% and 87% imports each year, respectively.
And one more key idea from the graphic below: keep your patents up to date. Companies based in Japan lead the region in patent filing.
The lesson here is clear: ignore the Asia Pacific market at your peril.
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—Heather Thompson is editor-in-chief of MD+DI.