LONDON--(BUSINESS WIRE)--A well-known market intelligence company, Infiniti Research, has partnered with several top medical diagnostics companies to help meet their strategic and sales objectives and implement seamless route-to-market strategies through turnkey solutions.
“The rising demand for healthcare in the APAC region is driven by factors including an aging population with complex healthcare needs and the shift in the focus of medical service and care facilities from infectious diseases to life-threatening chronic ailments,” says a healthcare industry expert at Infiniti Research.
In countries like Singapore, the medical diagnostics market is growing at a breakneck pace due to the growing demand to identify diseases beforehand in an attempt to control the rising medical costs. This trend is expected to become widely popular across the Asia-pacific region over the next decade, fueling the overall growth of the medical diagnostics industry. A healthcare industry thought leader from Infiniti Research was recently interviewed for insights into the growing medical diagnostics market in APAC and identify the key market trends and innovations.
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How has the medical diagnostics landscape in APAC evolved over the past decade?
The growing healthcare needs in APAC is primarily a result of the region’s rising population. With the growing demand for healthcare facilities, private hospitals and other MedTech companies are increasingly expanding their business in the region and are also establishing their R&D and manufacturing facilities here. As a result of these transformations, the MedTech industry in Asia-Pacific is expected to overtake the EU to become the second-largest market next to the US over the next five years.
Which countries in APAC has shown a comparatively greater potential in terms of business growth and adoption?
In the APAC region, China is the leader in terms of market growth in the medical diagnostics market. Furthermore, over the years, China has also refined their investments policies and regulations, opening up new investment opportunities for MedTech companies. Singapore is also not far behind. Most of the top global life sciences players have established some form of activity in Singapore ranging from manufacturing, R&D, and even headquarter functions. In addition, the South Korean government has also put funds into clinical precision medicine, and we expect this to proliferate over the coming years.
What are the key drivers to thrive in APAC’s medical diagnostics market?
Government support and focus is vital. Government assistance and funding help laboratories to stay on top of technology and ahead of the rapidly changing market. Apart from this, it is also necessary to educate the public on the need for medical diagnostics. This can be done through media publications or via the internet. Moreover, the quality of treatment and access to the best equipment and solutions in the market also plays a crucial role in helping medical diagnostics companies gain a leading edge in the market.
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About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit:https://www.infinitiresearch.com/about-us