New Delhi, July 8 -- The Asia-Pacific region is on track to become a leading global hub for medical technology innovation over the coming decade, but sustained investments in clinical research, regulatory capabilities, talent and commercialization will determine whether the region can produce globally competitive medtech champions, according to a new Bain & Company report.

The study says the next 12 to 24 months will be critical as governments, investors and companies work to bridge structural gaps that have historically limited the region's global reach.

The report highlighted a major shift in the regional medtech ecosystem. Once known primarily as a manufacturing base for global companies, Asia-Pacific is increasingly developing, vali...