Asia Pacific’s share of global medtech demand is expected to reach $132 billion by 2030, growing at 6.9 percent annually and faster than the global market, according to a new report by Bain & Company.
However, only few companies in the region have launched globally competitive, commercially viable products at scale, Bain & Company said in a statement on Tuesday regarding the release of the report. The report is conducted in partnership with A*STAR, Enterprise Singapore, J.P. Morgan, SG Growth Capital, and the Singapore Economic Development Board.
The report, Building Global Champions: The Asia-Pacific Region’s Next Medtech Wave, identified five structural areas presenting key opportunities: a funding gap as seed and Series A rounds totaled only $2.2 billion across 124 rounds in 2025 while just 10 percent of Asia Pacific buyout value was attributed to medtech deals; a shortage of regulatory and clinical talent with experience navigating global pathways.
Other key points include gaps in intellectual property protection constraining licensing and partnership opportunities, underdeveloped commercialization infrastructure for competing beyond home markets, and the challenge of generating clinical and health-economic evidence needed for reimbursement and adoption.
Kevin Chang, head of Bain & Company’s Healthcare and Life Sciences practice in Greater China, said the region is no longer simply a market for innovation but increasingly a source of it. The next decade will be defined by how effectively companies convert that innovation into enduring global businesses, the executive added.
The report noted that Japan and Australia have led the region in product development over the past two decades, while China and India have moved beyond volume manufacturing, South Korea has emerged as an engine for software-driven medtech innovation, and Singapore has strengthened its position as a hub for clinical translation and productisation. Demand is being driven by ageing populations, an expanding chronic disease burden, and healthcare workforce shortages across the region.
Jolene Ooi, Partner in Healthcare at EDBI, said the Asia Pacific medtech ecosystem is reaching a new stage of innovation and capability, creating greater opportunities for cross-border growth and global success. Irene Cheong, Assistant Chief Executive for Innovation and Enterprise at A*STAR, said Singapore’s strengths in clinical translation and productisation position it well to support this shift, translating research into globally investible technologies.
The report said investments made over the next 24 months will determine the region’s role in the global medtech landscape. With the right strategic commitments, Asia Pacific could emerge as a leading exporter of medical innovation by 2030, according to the report.
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