Southeast Asia's medical market will almost double by 2019

12/08/2014

Medical manufacturing is one of the key growth areas in countries belonging to the Association of Southeast Asian Nations (ASEAN), according to an article posted today on the ASEANBriefing website. A rapidly expanding middle class is largely responsible for a projected near doubling of the medical device market in these countries, from $4.6 billion in 2013 to $9 billion by 2019.

Three ASEAN countries—Malaysia, Indonesia, and Thailand—account for approximately 65% of the current medical device market among the 10 member countries, according to Matthew Zito, Benedict Lynn, and Emily Liu of business intelligence firm Dezan Shira & Associates, who authored the article. The other seven are Singapore, the Phillipines, Brunei, Vietnam, Laos, Myanmar, and Cambodia.
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