Signs point to Asia becoming key medtech innovation hotspot

FOR most of recent history, research and development (R&D) in the field of medical technology, also known as medtech, happened mainly in the US and Europe.

But as Asia develops, the region will contribute a growing share of medtech innovation in the coming years. Several Asian countries already have robust innovation ecosystems that are producing new intellectual property, products and business models every year. This will drive business opportunities for medtech companies in Asia and expand access to much-needed treatments across the region; it may also lead to insights and products that have value in other regions, including the US and Europe.

Medtech innovation comes in a variety of forms. It includes high-tech innovations that use the most cutting-edge advances in science and technology, such as nanotechnology and artificial intelligence. It also includes clever methods and business models for reducing costs and providing greater coverage with existing technologies.