ReportsnReports- The Outlook for Medical Devices in South East Asia

By Reportsnreports, PRNE
Tuesday, May 31, 2011

DALLAS, June 1, 2011 -

ReportsnReports announces it will carry 'The Outlook for Medical Devices
in South East Asia' Report in its store

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Like all other sectors, the medical device markets in South
East Asia
have been impacted by the downturn of the world economy. Most of
these countries, which rely heavily on exports as a significant portion of
their respective GDP - South Korea and Singapore being prime examples - saw
cuts in demand for manufactured goods and most have seen dips in overall GDP
for 2009. Economic conditions have however started to gradually improve, and
GDP growth has been positive in 2010 and is projected to continue in 2011.

The economy aside, what factors are affecting medical device

Fundamentally, the eight countries covered in this collection
share a similar characteristic. These medical device markets have, on
average, been growing at more attractive rates compared to the more
developed, mature medical device markets in Western Europe, for example.

Broadly speaking, the high growth rates for this region have
been spearheaded by a number of similar and distinct factors. All countries
in this report collection have experienced strong medical devices import
growth and steadily rising health expenditure. Medical devices imports, as we
have seen in the last economic crisis in 1997, could possibly be affected in
the short term, but like before, these countries are expected to bounce back.

The demand for medical devices prior to the current downturn
was largely driven by the expansion of the respective healthcare sectors in
the region, and Government budget cuts for capital infrastructure may temper
growth in the short term. But healthcare development and provision is an
increasing political and social priority for nearly all these countries, even
the poorer ones like Indonesia, Thailand and Philippines and the prospects
for medical devices remains strong.

Other factors driving or impeding the market's growth rate are
also taken into account. For example, government cost containment strategies
and tariff and non-tariff barriers to trade for medical devices. New dynamics
are also affecting the market, such as Vietnam's expansion of health
insurance to all citizens by 2014 or the opening up of the notoriously
difficult but lucrative South Korean market via Free Trade Agreements (FTA)
with the USA and the EU.

Complete quarterly-updated analysis to keep you informed

Now you can easily evaluate these markets with The Outlook for
Medical Devices in South East Asia to 2015. Each report provides individual
and highly-detailed analysis of the market, looking at the key regulatory,
political, economic and corporate developments in the wider context of market
structure, service and access.


Malaysia's medical devices and supplies are mainly imported,
especially the more technologically advanced items. Espicom estimates current
growth in the market to be a strong 9.5% per year in the 2010-2015 period.
Malaysia's major natural resource is rubber, and the country's exports are
dominated by latex products such as surgical gloves and catheters, which
together accounted for around 59.2% of the export total in 2009. The
Malaysian government has attempted in recent years to encourage domestic
manufacturers to expand production into more technologically advanced
products and develop services such as Information and Communications
Technology and other support related services. This has been detailed in the
Third Industrial Master Plan 2006-2020. In the five years from 2005 - 2009,
imports expanded at an attractive CAGR of 10.3%. Imports are expected to
continue growing at a strong rate, in line with rising health expenditure
growth, and the country's heavy reliance on imports to meet its healthcare


South Korea ranks as one of the world's leading economies,
with a population approaching 50 million and overall GDP listed among the top
15 in the world. As a result, much of the population expects a high level of
medical care. South Korea has the highest healthcare expenditure of all the
'Asian Tigers', with an estimated 55% funded by the public sector. The
government has been forced to implement cost-cutting measures in recent
years, owing to a large deficit faced by the healthcare system. Healthcare
costs continue to rise, with the country's rapidly aging population adding
upward pressure to total spending. In the first half of 2009 for example,
senior citizens accounted for 31.7% of costs covered by the National Health
Insurance Corporation (NHIC). South Korea's FTA with the European Union (EU)
is being finalised, and this will facilitate increased trade with the easing
of tariff and non-tariff barriers between the two parties. Bilateral trade
reached US$98.4 billion in 2008. The EU is South Korea's second largest
trading partner after China and its largest foreign investor. South Korea is
the EU's eighth largest trade partner.


Singapore announced the implementation of its first set of
medical device regulations in November 2007, and by October 2010, all medical
devices will need to be registered and all dealers (including importers and
manufacturers) will have to be licensed. Singapore's export-oriented economy
suffered in 2009, but thanks to improving global economic conditions, has
started to pick up again in 2010 with increased shipments from abroad and
rising domestic consumption. The standard of living in Singapore is
comparable to many developed Western nations and, with the exception of
Japan, GDP per capita is the highest of all the Asian countries. A universal
and affordable healthcare system is evident in Singapore. Both rates for
doctors and hospital beds per thousand population are above global averages.
The Singapore government provides considerable financial backing to the
healthcare industry. Known for a strong and focused industrial policy, the
government continues to channel funds into medical and pharmaceutical
research, and has vowed to continue investing in this sector despite a
slowdown in the economy.


The Thailand medical device market has been undergoing a
period of rapid growth, and if fundamentals remain the same, the market looks
set to expand at an attractive 9.1% per annum in the medium term. This growth
could be somewhat tempered as a result of a global economic downturn, but the
percentage point growth rate is still expected to be high by world standards.
Market growth is tied to the strength of the United States economy, and the
performance of the local currency against the dollar. After a period of slow
recovery, imports surpassed the pre-late 90s economic crash for the first
time in 2004 and has spiked a further 105.8%. Imports have grown each year
between 2001 and 2009, all while the county continued to maintain a steady
positive balance of trade. The government has continued to back the universal
healthcare system. In April 2009, the government announced it was raising the
per capita expenditure budget to 2,400 baht (US$70) per head in fiscal 2010
compared to the rate of 2,202 baht. In overall terms, the government
allocation for the scheme totals 112.8 million baht (US$3.3 billion) for


MARKET OUTLOOK - updated quarterly

- Key national data projections

- Current market size

- Unique 5-year market projections

- Market outlook

- Market structure Including statistical data on imports and

- Market access Including distribution and medical device

- Healthcare analysis Including demographics, healthcare
system, health expenditure, healthcare infrastructure and personnel

HEALTHCARE DATA - updated annually

A comprehensive tabula review of the market, including
economic indicators, demographics, health expenditure, hospital and primary
care data, and healthcare personnel.


Details of the medical equipment distributors held in
Espicom's database at the time of publication.

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