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Asian Medical Devices Market Displaying Eight New Changes
【Date：2019.02.15 Source：English Web】
Asian Medical Devices Market Displaying Eight New Changes
The population of Asian countries occupies approximately 60% of the total global population, and this is a huge market. In the past 20 years, the national economies of East Asian countries, South Asia and East Asian countries headed by China, Japan and South Korea all have the significant development. Along with the economic development of major countries in Asia, their health and hygiene business has also been growing rapidly, plus the rich gulf oil producing countries, thus the medical devices market of Asia has become one of the main markets in the world.
Population aging promotes the demand of medical devices
In recent years, the population structure situation of Asian countries have new changes. After Japan, South Korea, Singapore, China HK and China Taiwan, China has also began to access to the aging society. And there is no doubt that the elder people have high demand for the medical devices, which will further promote the number of medical equipment or equipment products that the hospitals purchase to be increased. According to the assessment of industry professionals of medical devices, the total sales volume of Asian medical devices products in the past few years has been increased by 10%-15%, which has the significant relationship with the aging population in the major countries of Asia (except India). In recent years, the sales volume for the implantable devices products relating to the elder people e.g. cardiac pacemaker, intravascular stent and joint prosthesis etc. products has the striking increase.
The industry professionals have concluded 6 points for the new changes that the Asian medical devices market is facing:
1. Zero defect of product quality
A number of medical devices products, especially the above-mentioned implantable devices products have to be the products of zero defect”, due to once these products appear failure after being implanted into the human body, which will directly endanger the patients’ life. Secondly, in terms of the home-used electronic diagnosis devices products with significantly large market sales volume, e.g. the electronic sphygmomanometer and electronic glucometer etc. should also be the products of zero defect.
2. Miniaturization of products
The miniaturization has more and more become a new fashion within the industry of the international medical devices. For example, the electronic sphygmomanometer that can be worn on the waist, the glucometer that can be sewed in T shirt, pocket-sized electronic glucometer and pulse oximeter, as well as the hand-held B-ultrasonic scanner etc. all have been put into the market. This type of products are quite popular among the customers due to the small volume, convenient bringing and usage.
3. Products using long life-span battery are more welcomed
There are a number of medical devices products that are using the various batteries in the market, but these batteries are mostly in short life span. The foreign manufacturers have developed the new products of rechargeable long life-span batteries with the life span over 10 years. Install them in the electronic devices products e.g. the cardiac pacemaker, insulin pump and even the hearing-aid etc., which can save the trouble of frequently changing the batteries for patients, as well as extend the life span of devices.
4. Apply internet improvement, enhance products performance
The wide application of wireless internet in all countries worldwide has provided the effective technical platform for some electronic monitoring devices products. For example, the establishment of LAN or MF can provide the significant convenience for the patients. Even though the patients are at outdoors, they can also deliver the data (e.g. heart rate, breath, blood pressure etc.) measured with the life monitoring devices produces that they are using to the computer of their attending doctors in a timely manner, which enables their doctors to grasp the changing situation for the state of illness of patients at any time.
5. Government purchase will reduce the price of medical devices products
The Asian countries e.g. India, Bangladesh etc. with the population exceeding 100 million, the medical equipment and devices products required by their state-owned hospitals are mainly purchased through the means of tendering, which greatly compresses the prices of medical devices. As for the export of medical devices products in some countries with low man power cost, this is beneficial. However, it is not beneficial to the manufacturers in the countries with high man power cost e.g. Japan, South Korea and Singapore etc. In a word, the government purchasing medical equipment and devices products will become the normalization in the next few years.
6. Non-governmental capitals will access to medical hygiene field on large scale
According to the prediction of western economists: within the next 10 yeas, the non-governmental capitals will access to the medical hygiene field of most countries in Asia on a large scale. For example, in China HK and China Taiwan with the early development of market economy, the private hospitals in these two regions occupy 65% of the number of local hospitals. Even though the economy in Japan, Singapore and South Korea is developed, the government-operated hospitals are still at the dominant position. As well as the state-owned hospitals in the Asian countries e.g. China, India and Malaysia etc. are also at the dominant position. However, along with the these countries have been progressively stepped into the aging society, the non-governmental capitals will access to the medical hygiene field on a large scale in the next few years. The private hospitals of high charge and good service attitude will purchase a large number of advanced medical equipment and devices products to meet the treatment demands of patients with high income.
The population of Asian countries occupies approximately 60% of the total global population, and this is a huge market. In the past 20 years, the national economies of East Asian countries, South Asia and East Asian countries headed by China, Japan and South Korea all have the significant development. Along with the economic development of major countries in Asia, their health and hygiene business has also been growing rapidly, plus the rich gulf oil producing countries, thus the medical devices market of Asia has become one of the main markets in the world.
Population aging promotes the demand of medical devices
In recent years, the population structure situation of Asian countries have new changes. After Japan, South Korea, Singapore, China HK and China Taiwan, China has also began to access to the aging society. And there is no doubt that the elder people have high demand for the medical devices, which will further promote the number of medical equipment or equipment products that the hospitals purchase to be increased. According to the assessment of industry professionals of medical devices, the total sales volume of Asian medical devices products in the past few years has been increased by 10%-15%, which has the significant relationship with the aging population in the major countries of Asia (except India). In recent years, the sales volume for the implantable devices products relating to the elder people e.g. cardiac pacemaker, intravascular stent and joint prosthesis etc. products has the striking increase.
The industry professionals have concluded 6 points for the new changes that the Asian medical devices market is facing:
1. Zero defect of product quality
A number of medical devices products, especially the above-mentioned implantable devices products have to be the products of zero defect”, due to once these products appear failure after being implanted into the human body, which will directly endanger the patients’ life. Secondly, in terms of the home-used electronic diagnosis devices products with significantly large market sales volume, e.g. the electronic sphygmomanometer and electronic glucometer etc. should also be the products of zero defect.
2. Miniaturization of products
The miniaturization has more and more become a new fashion within the industry of the international medical devices. For example, the electronic sphygmomanometer that can be worn on the waist, the glucometer that can be sewed in T shirt, pocket-sized electronic glucometer and pulse oximeter, as well as the hand-held B-ultrasonic scanner etc. all have been put into the market. This type of products are quite popular among the customers due to the small volume, convenient bringing and usage.
3. Products using long life-span battery are more welcomed
There are a number of medical devices products that are using the various batteries in the market, but these batteries are mostly in short life span. The foreign manufacturers have developed the new products of rechargeable long life-span batteries with the life span over 10 years. Install them in the electronic devices products e.g. the cardiac pacemaker, insulin pump and even the hearing-aid etc., which can save the trouble of frequently changing the batteries for patients, as well as extend the life span of devices.
4. Apply internet improvement, enhance products performance
The wide application of wireless internet in all countries worldwide has provided the effective technical platform for some electronic monitoring devices products. For example, the establishment of LAN or MF can provide the significant convenience for the patients. Even though the patients are at outdoors, they can also deliver the data (e.g. heart rate, breath, blood pressure etc.) measured with the life monitoring devices produces that they are using to the computer of their attending doctors in a timely manner, which enables their doctors to grasp the changing situation for the state of illness of patients at any time.
5. Government purchase will reduce the price of medical devices products
The Asian countries e.g. India, Bangladesh etc. with the population exceeding 100 million, the medical equipment and devices products required by their state-owned hospitals are mainly purchased through the means of tendering, which greatly compresses the prices of medical devices. As for the export of medical devices products in some countries with low man power cost, this is beneficial. However, it is not beneficial to the manufacturers in the countries with high man power cost e.g. Japan, South Korea and Singapore etc. In a word, the government purchasing medical equipment and devices products will become the normalization in the next few years.
6. Non-governmental capitals will access to medical hygiene field on large scale
According to the prediction of western economists: within the next 10 yeas, the non-governmental capitals will access to the medical hygiene field of most countries in Asia on a large scale. For example, in China HK and China Taiwan with the early development of market economy, the private hospitals in these two regions occupy 65% of the number of local hospitals. Even though the economy in Japan, Singapore and South Korea is developed, the government-operated hospitals are still at the dominant position. As well as the state-owned hospitals in the Asian countries e.g. China, India and Malaysia etc. are also at the dominant position. However, along with the these countries have been progressively stepped into the aging society, the non-governmental capitals will access to the medical hygiene field on a large scale in the next few years. The private hospitals of high charge and good service attitude will purchase a large number of advanced medical equipment and devices products to meet the treatment demands of patients with high income.
