Asia Pacific in Focus: The Next Global Growth Engine
LSI’s decision to launch its Asia Summit underscores the region’s rising importance on the global MedTech map. Asia-Pacific (APAC) is now the second-largest MedTech market in the world, reaching USD 131 billion in 2023, with a compound annual growth rate (CAGR) nearly twice that of the US and Europe. From 2023 to 2028, the APAC MedTech market is expected to grow at a robust 8.4% CAGR, becoming a major engine for global healthcare development.
China, in particular, plays a pivotal role in this shift. According to LSI Market Intelligence, China is projected to surpass the United States in total surgical procedure volume in 2024, and will join India, South Korea, and Singapore as one of the world’s five fastest-growing markets in procedure volume. This marks a fundamental transformation—APAC is no longer just an “emerging” player, but a core driver of global MedTech growth.
As LSI’s CEO Scott Pantel stated:
“We’re seeing China and the broader Asia-Pacific region evolve rapidly—from ‘me too’ markets into major global sources of original innovation in Deep Tech, AI, robotics, and beyond.”
