Rise of Global MedTech Innovation in APAC

Asia Pacific (APAC) region has become a key global hub for MedTech innovation, shifting from a cost focused region to a centre of early commercialisation, clinical validation and scalable solutions. Reports have revealed that the share of MedTech startups, over the years, from outside the region has doubled, from 15 per cent to 30 per cent, highlighting rising global interest in APAC as a strategic entry point. This shift is primarily driven by MedTech startups from the US, the UK, and Canada. Additionally, global companies are making efforts to nurture MedTech innovations in the region. Let's take a closer look at how this trend will shape up for 2026.

- Vrushti Kothari

According to reports, the APAC MedTech market is valued at $16.3 billion in 2025, with a potential to reach $18.6 billion by 2029. Reports reveal that Singapore, China, Malaysia, Thailand, Vietnam and Indonesia have emerged as the critical players of the APAC MedTech market, followed by South Korea, Japan and India.

In particular, startups within these countries are leading the way by developing innovative solutions such as AI-based diagnostics, wearables, robotic surgical instruments, digital pathology softwares etc. Moreover, these MedTech startups continue to attract investors' attention for growth and early commercialisation. In addition, new collaborations are developing between academic institutes, industry, and government across the globe for strengthening MedTech innovations in the APAC market.

“Across key APAC markets such as Singapore, Japan, South Korea, China and Australia, MedTech innovation is gaining momentum, powered by agile startups and strong public-private partnerships. There is a growing global confidence in Asia as a MedTech launchpad. India’s presence is rising, and Singapore remains a key innovation hub despite declining share”, said Fredrik Nyberg, Managing Director, MedTech Innovator Asia Pacific.

Looking at 2025, we see MedTech firms BD Medical Products and Terumo Asia Holdings boosting Singapore’s Duke-NUS Health Innovator Programme to strengthen the talent pipeline and accelerate commercialisation of novel MedTech solutions.