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Brazil is the largest medical device market and among the top 10 in the world. The widening coverage of Brazil’s public healthcare system and expansion of its private health insurance sector has resulted in higher demand for improved medical care and increase in spending on medical devices.
Indian’s medical device market is the fourth largest in Asia and ranks among the top 20 in the world. Worth USD 3.2 billion, it is likely to be among the world's fastest growing markets over the next five years, due to India’s ageing population, rise in lifestyle diseases, growing affordability, expanding health insurance, and increasing private-public healthcare projects.
China’s medical device market has been growing at a rate of around 20 percent since 2009, led by a rise in discretionary income and a fast aging population. China’s medical device market is ranked the second largest in the world and achieved a total size of USD 34.68 billion in 2013 for the first time in history.
Turkey is an attractive location for the manufacture and marketing of medical devices due to its available infrastructure and large number of healthcare institutions. Turkey’s medical device market is the largest in the Middle East and Africa, and figures among the top 20 largest in the world in value terms.
Poland is the second largest economy in Central & Eastern Europe and its population of 38 million makes it one of the biggest health care markets in the region. Poland’s aging population is expected to lead to a higher incidence rate of various diseases and greater demand for top quality specialists, rehabilitation services and long term care, thereby driving the demand for medical devices.
Korea ranks among the world's leading economies and has the highest healthcare expenditure among all the 'Asian Tigers.' The country’s growing older population, rising average income, growing demand for sophisticated medical technology and dependence on imports for high-end products creates significant opportunities for medical device companies.
