Ames Gross It is no secret that Western medical device companies eagerly are looking East for sal

Ames Gross

It is no secret that Western medical device companies eagerly are looking East for sales, investment and expansion. Currently, Asia’s medical device market is estimated to be $55 billion, about 22 percent of the global medical device market. The medical device market in Asia has a compound annual growth rate of 10 percent and is expected to exceed $70 billion by 2015. Asia’s medical device market growth rate is higher than the global medical device market growth rate, which is about 4 percent. Asia’s medical device market growth is heavily influenced by three major factors: large population size, strong economic growth and rapidly aging populations.