The Asia-Pacific region will maintain its global economic outperformance, driven by expanding economies in emerging Asia, which will support above-average medical device market growth. The overhang of Covid-19 continued to weigh on economies across the region in 2022 as infection rates remain elevated in a number of markets. Economic normalisation will be dependent on ongoing individual vaccine rollouts and virus containment. Asia will still outperform the global economy, which we now expect will see mixed growth in 2022, with forecasts remaining subject to significant downside risks. Cost-containment measures in key medical device markets, along with rising political risks around identity politics, the conflict in Ukraine and Mainland China’s growing diplomatic hegemony across the region, will weigh on investor confidence and hinder regional performance.
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