Connecting ASEAN & South Asia Markets

• ASEAN is the world’s 5th largest economy and with a rapidly ageing population within member countries will spur the demand for healthcare.
• The medical device market within ASEAN is expected to be worth US$11.5 billion (approx.) by 2022-23.
• The medical device sector in the region has long been driven by increasing government expenditure on universal healthcare as well as reimbursement schemes
• Nearly 80% of Sri Lanka’s medical and pharmaceutical requirements are imported from major countries from Asia, Europe and USA.
• The size of Bangladesh’s medical device market in 2020 was $2.3 billion and expected to achieve one of the fastest growth rates in the world in the next 5 years.
• India imported $6.24 billion worth of medical devices in 2020-21, up from $5.84 billion in 2019-20 and $5.7 billion in 2018-19. In FY21, electronics equipment accounted for a major portion of imports at $3.6 billion, followed by $1.5 billion worth consumables and disposables.