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Reportlinker Adds The Outlook for Medical Devices in South East Asia
Date:5/23/2011

ulations in November 2007, and by October 2010, all medical devices will need to be registered

and all dealers (including importers and manufacturers) will have to be licensed. Singapore's export-oriented economy suffered in 2009, but thanks to improving global economic conditions, has started to pick up again in 2010 with increased shipments from abroad and rising domestic consumption. The standard of living in Singapore is comparable to many developed Western nations and, with the exception of Japan, GDP per capita is the highest of all the Asian countries. A universal and affordable healthcare system is evident in Singapore. Both rates for doctors and hospital beds per thousand population are above global averages. The Singapore government provides considerable financial backing to the healthcare industry. Known for a strong and focused industrial policy, the government continuesto channel funds into medical and pharmaceutical research, and has vowed to continue investing in this sector despite a slowdown in the economy.

THAILAND

The Thailand medical device market has been undergoing a period of rapid growth, and if fundamentals remain the same, the market looks set to expand at an attractive

9.1% per annum in the medium term. This growth could be somewhat tempered as a result of a global economic downturn, but the percentage point growth rate is still

expected to be high by world standards. Market growth is tied to the strength of the United States economy, and the performance of the local currency against the dollar. After a period of slow recovery, imports surpassed the pre-late 90s economic crash for the first time in 2004 and has spiked a further 105.8%. Imports have grown each year between 2001 and 2009, all while the county continued to maintain a steady positive balance of trade. The government has continued to back the universal healthcare system. In April 2009, the government announced it was raising the per capita exp
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