Asia Pacific Medical Devices Market Size, Share, and COVID-19 Impact Analysis, By Type (Orthopedic Devices, Cardiovascular Devices, Diagnostic Imaging Devices, In-vitro Diagnostics (IVD), Minimally Invasive Surgery Devices, and Others), By End-User (Hospitals & ASCs, Clinics, and Others), and Asia Pacific Medical Devices Market Insights, Industry Trend, Forecasts to 2035

Asia Pacific Medical Devices Market Insights Forecasts to 2035

• The Asia Pacific Medical Devices Market Size was estimated at USD 104.5 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.98% from 2025 to 2035
• The Asia Pacific Medical Devices Market Size is Expected to Reach USD 219.5 Billion by 2035

The Asia Pacific Medical Devices Market Size is Anticipated to Reach USD 219.5 Billion by 2035, Growing at a CAGR of 6.98% from 2025 to 2035. The market is driven by several factors, including an increasing prevalence of chronic diseases, technological advancements, an aging population, and increasing healthcare expenditure.

Market Overview

The Asia Pacific medical devices market is the industry for products including a wide range of instruments, equipment, and technologies used in the diagnosis, monitoring, and treatment of medical conditions. As per WHO, a medical device can be any instrument, apparatus, implement, machine, appliance, implant, reagent for in vitro use, software material, or other similar or related article, intended to be used alone or in combination for a medical purpose. The emergence of minimally invasive procedures, smart medical devices, and the integration of AI wearable technology are key driving factors of the medical devices market. The inclination towards point-of-care diagnostics and at-home care diagnostics is offering a lucrative opportunity for companies to drive innovations in medical diagnostics devices.

Report Coverage

This research report categorizes the market for the Asia Pacific medical devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific medical devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific medical devices market.

Driving Factors

An increasing prevalence of chronic diseases is driving the demand for medical devices for enabling remote monitoring, personalized treatment, and improved patient self-management, thereby bolstering the market. Technological advancements in medical devices, including artificial intelligence (AI), robotics, 3D printing, and nanotechnology, are driving the market growth. The growing healthcare expenditure is due to consumers' willingness to spend more to receive better health outcomes and experiences, and government policies support contributing to the market for medical devices.

Restraining Factors

The stringent regulations associated with the approval of novel medical devices may slow down the market growth. Further, supply chain disruptions, reimbursement uncertainties may be responsible for hampering the market. High development cost and pressure from government & payers limit its adoption, thereby restraining the market.

Market Segmentation

The Asia Pacific medical devices market share is classified into type and end-user.

• The in-vitro diagnostics (IVD) segment dominated the market with the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Asia Pacific medical devices market is segmented by type into orthopedic devices, cardiovascular devices, diagnostic imaging devices, in-vitro diagnostics (IVD), minimally invasive surgery devices, and others. Among these, the in-vitro diagnostics (IVD) segment dominated the market with the largest market share in 2024 and is expected to grow at a significant CAGR during the forecast period. IVD products are devices and systems used for diagnosis, treatment, or prevention of health conditions, meant to be used in the collection and examination of biological samples such as blood, saliva, or tissues. The rising prevalence of infectious diseases and the number of tests among the patient population are contributing to driving market demand.

• The hospitals & ASCs segment dominated the medical devices market in 2024 and is expected to grow at a significant CAGR during the forecast period.

The Asia Pacific medical devices market is segmented by end-user into hospitals & ASCs, clinics, and others. Among these, the hospitals & ASCs segment dominated the medical devices market in 2024 and is expected to grow at a significant CAGR during the forecast period. There is a rising need for high-end diagnostic instruments along with the emergence of multispecialty and community hospitals. The growing aging population and chronic diseases in countries like India are driving the need for ambulatory surgical centers, thereby propelling the market.  

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific medical devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Nipro Corporation
• Shimadzu Corporation
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
• Olympus Corporation
• Terumo Corporation
• NIHON KOHDEN CORPORATION
• Lepu Medical Technology
• Medtronic
• Others

Recent Developments:

• In January 2023, Terumo and Siemens Healthineers India are partnering to strengthen cardiac care in India through collaborative interventions in the areas of physician training and development, access to advanced medical technologies, and improved penetration of Tier 2 and 3 cities.
• In January 2023, Mindray announced the launch of next-generation BeneHeart series defibrillators, the BeneHeart D60 and D30. The new BeneHeart defibrillators aim to raise the standards for resuscitation with superior reliability, expert comprehensive diagnosis and monitoring tools, and introduce a whole-process quality improvement solution for both in-hospital and pre-hospital rescue.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Asia Pacific, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the Asia Pacific Medical Devices Market based on the below-mentioned segments:

Asia Pacific Medical Devices Market, By Type

• Orthopedic Devices
• Cardiovascular Devices
• Diagnostic Imaging Devices
• In-vitro Diagnostics (IVD)
• Minimally Invasive Surgery Devices
• Others

Asia Pacific Medical Devices Market, By End-User

• Hospitals & ASCs
• Clinics
• Others