The growth of the urology surgical instruments market is likely to be centered at the Asia-Pacific region due to
favorable prospects for the growth of the urology surgical instruments market, growing healthcare industry in Japan, government investments to improve medical infrastructure and increase the number of doctors, penetration of key players into the Chinese market, growing preference for minimally invasive surgeries & improving healthcare infrastructure, German-Asian partnerships stimulating market growth in Asia, Asian countries—leading medical tourism destinations, growing number of hospitals in Singapore and South Korea, changing regulatory and healthcare scenario in Vietnam, favorable healthcare system in Australia, and stringent regulations to limit market growth in Malaysia & Indonesia.
Favorable prospects for growth of the urology surgical instruments market in Japan include regional offices of major players of the market, trade agreements, the increasing number of patients with chronic and lifestyle diseases, the launch of new products with innovative technologies, and government initiatives to promote healthcare. Moreover, growing healthcare industry in Japan are expected to increase the demand for surgical procedures, boosting the urology surgical instruments market in Japan
The demand for surgical instruments is expected to grow significantly in China owing to its growing population and economic development. Due to the Chinese government’s Healthcare Legislation Reforms, China is expected to witness maximum growth in the medical device segment. Furthermore, the increasing demand for surgical equipment in China is backed by the expansion of global players in the region. The increasing demand for surgical equipment in China is backed by the expansion of global players in the region.
The growing middle-class population, increasing purchasing power, adoption of westernized lifestyles, and rising incidence of conditions such as obesity and cardiovascular disease have created a significant demand for hospitals with improved infrastructure in India. Furthermore, initiatives by local government bodies in India to provide medical institutions with funds for purchasing surgical instruments are likely to boost the urology surgical instruments market in India.
The Asia-Pacific Conference, which takes place every two years, provides German and Asian decision makers in the business and political arenas with a platform for exchanging ideas about the latest economic issues. These meetings help in building a relationship between Germany and various Asian countries. Moreover, Medical tourism in Asia has increased greatly in recent years, which can be attributed to increasing healthcare costs, waiting times, and rising aging population in developed nations. Furthermore, the Australian healthcare system provides free or subsidized treatment, free accommodation in public hospitals, and 75% of the scheduled fee for service in private hospitals. It reduces out-of-pocket costs for patients, consequently encouraging them to seek the best and most effective care for their ailments. These factors are expected to increase the demand for surgical procedures, thus aiding the growth of the urology surgical instruments market. However, stringent regulations in countries like Malaysia and Indonesia despite the government’s heavy expenditure on healthcare hinder the potential growth of the medical devices market in the country, thus limiting the growth of the urology surgical instruments market.