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Asian medical device market is brewing new changes

Asian medical device market is brewing new changes

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According to the language: Asia's population accounts for about 60% of the global population. In the past 20 years, the national economy of China, Japan, South Korea and other Asian countries has developed rapidly, and the medical and health undertakings of some countries have also developed rapidly, making the Asian medical device market rapidly become one of the major medical device markets in the world. Many analysts have pointed out that with the economic development of major Asian countries and the aging of the population, there is huge room for growth in the Asian medical device industry and market. Then, what new trends will emerge in the medical device industry in Asian countries in terms of supervision, procurement, price, and R&D? Let's take a look at the predictions and analysis of foreign professional media in the near future.
Industry development
Forecast one: centralized procurement normalization
According to the analysis of foreign professional media, the government's centralized bidding and procurement activities for medical devices in Asian countries will become more normal in the future. At present, India, Bangladesh and other countries with a population of over 100 million in Asia, the medical equipment and medical equipment required for public hospitals are mainly purchased through government tenders. The normalization of future bidding procurement will further reduce the price of medical equipment. Foreign analysts pointed out that this trend is particularly unfavorable for manufacturers in countries with high labor costs such as Japan, South Korea and Singapore.
Prediction 2: Enhance import regulatory requirements
According to Western media forecasts, China, India, Indonesia, Bangladesh and other Asian populous countries will further learn from Western countries' imported medical device regulatory measures and implement stricter quality and safety management regulations to eliminate potential quality and safety risks. This will greatly promote the quality of imported products, and will also lead to an increase in production and operation costs.
Prediction 3: Increased homogenization competition
There are many Asian medical device manufacturers, and product homogenization is very common. At present, there are product homogenization phenomena in the field of medical devices such as disposable medical devices, medical catheters, surgical instruments, hospital beds, wheelchairs, and even in the field of high-end imaging diagnostic equipment such as CT machines and B-ultrasounds. Western media analysis pointed out that as the technology gap between Asian manufacturers shrinks, the product homogenization of the Asian medical device industry will further intensify in the future. Therefore, in the future, manufacturers must make in-depth market research when developing new products, so as to avoid vicious competition in exports due to increased product homogeneity.
Prediction 4: Private hospitals drive demand
According to Western economists, in the next 10 years, private capital will enter the medical and health system of Asian countries. At present, although Japan, Singapore and South Korea are more developed economies, the main body of their health care system is still public hospitals. The health care systems of Asian countries and regions such as China, India, and Malaysia are also dominated by public hospitals. However, in Hong Kong and Taiwan, where the market economy has developed earlier, private hospitals account for about 65% of the total number of local hospitals. With the increasing demand for medical services, especially in many countries, there will be more and more private hospitals in the Asian national health care system, and these private hospitals with higher fees and more emphasis on service quality will inevitably Purchase a large number of new medical equipment and medical equipment to meet the needs of patients. This will drive the rapid growth of sales in the Asian medical device market.
Product development
Demand 1: Zero defect
Not long ago, the Asian Hospital Management Journal in Mumbai, India, conducted a questionnaire survey of hospital administrators and medical staff in several Asian countries to ask which medical devices are urgently needed in local hospitals and their views on some medical device products.
According to reports, in the past few years, the total sales volume of medical device products in Asia has increased by 10% to 15% per year, which has a lot to do with the aging of the major Asian countries. Among them, the sales of implantable medical devices such as pacemakers, vascular stents, and artificial joints have increased dramatically. Some hospital administrators point out that medical device products, especially implantable high-risk products, must be “zero defect” products. Because these products are implanted in the human body, once they fail, they will be directly life-threatening. In addition, the current sales of household electronic medical device products (such as electronic blood pressure monitors, electronic blood glucose meters, etc.) should also be "zero defect" products, otherwise the doctors and patients are likely to be misled by the instrument values ​​and delay treatment.
Demand 2: miniaturization
Some hospital administrators said that today, with the increasing popularity of minimally invasive medical treatments such as interventional therapy, the call for miniaturization of medical devices is growing. The maturity of digital technology has laid the foundation for the development of miniaturized medical devices. Typical examples of miniaturization of medical devices include swallowable capsule type digestive tract endoscopes; bracelet-type multifunctional electronic diagnostic instruments that can be worn on the wrist and can measure many important vital signs such as blood sugar, blood pressure and heart rate; Electrocardiograph in T-shirt; pocket electronic blood glucose meter, blood oxygen saturation meter; hand-held B-ultrasonic instrument. These devices are popular among doctors, patients and consumers because of their small size, portability and use.
Requirement 3: Product upgrade
Some medical personnel pointed out that network technologies such as local area networks (LANs) and WiFi, which are rapidly spreading in countries all over the world, provide a platform for upgrading electronic medical products and provide great convenience for health management. Now, even if they are outside the hospital, they can easily send data of vital signs monitoring instruments (such as heart rate, breathing, blood pressure, etc.) to the doctor's computer via wireless network, so that medical staff can grasp the individual's health in real time. . In addition, for the B-ultrasound diagnostic equipment commonly used in hospitals and clinics, it is only necessary to spend a small amount of money to install a chip in the device, so that the wireless transmission of the B-ultrasound diagnosis result can be realized, so that the doctor can understand the patient in the first time. The condition and diagnosis are made, which greatly saves the time of diagnosis and treatment. Cochlear implants and hearing aids also have a lot of room for improvement, so that the hearing impaired can obtain a better hearing range and greatly improve the quality of life of users.
Demand 4: Longevity battery
Some hospital administrators say that many electronic medical devices, such as pacemakers, insulin pumps, and hearing aids, use batteries. However, many battery products have short power supply problems. Therefore, patients must change batteries frequently, which is very troublesome. .
According to reports, developed countries in Europe and the United States have developed long-life rechargeable batteries that have been used for 10 years, which saves the need to change batteries frequently. The more encouraging news is that a European company has developed a “life source battery”. Its ingenious feature is the ability to collect the heat emitted by the human body as an energy source, converting thermal energy into electrical energy and storing it in a battery for use in medical devices. This new, compact and innovative battery is ideal for wearable medical device products.