Growing Asian Healthcare Market Expands Opportunities for Devicemakers
Per capita healthcare spending in Asia is expected to increase by almost 64 percent by 2010, expanding markets for medical devicemakers, according to a new report from Kalorama Information.
The report, “Asian Medical Device Markets,” says the market in Asia has experienced “constant growth” over the last decade, despite evolving regulatory and technological factors.
For the 13 countries in Asia, the report said the combined healthcare expenditure was $753 billion in 2005. But the report specifically focused on the healthcare sectors in five countries — Australia, China, India, Japan and South Korea — which Kalorama said have a combined value of approximately $31.63 billion in 2007.
By 2010, these five key markets are expected to total $43.08 billion, with China, Australia and India showing “exceptional growth.”