JAPAN MEDICAL DEVICE MARKET

Japan Medical Device Market is projected to attain a robust market growth rate in the years ahead owing to the growing aging population alongside the increasing prevalence of chronic and lifestyle-related illnesses.

Major Japan Medical Device Market Drivers and Emerging Trends

Japan remains one of the largest markets for medical devices globally, fueled by the country’s aging demographic and the escalating number of patients grappling with chronic diseases which indicate sustained growth prospects. The covid pandemic underscored the crucial role of advanced healthcare solutions particularly the implementation of digital technologies which positions Japan’s medical device market for growth. According to the Ministry of Health, Labour and Welfare, in 2021 the market reached USD 40 billion.

As part of Japan’s governmental policy to increase good health life expectancy and decrease healthcare spending, proactive measures emphasizing health care and management are being enforced. The Cabinet’s approval of the Basic Policies for Fiscal Management and Economic and Reform 2022 underscores the prioritization of promoting public health records and technology-driven strategies aimed at tackling current challenges including declining birth rates, aging society, and persistent labor shortages in healthcare and caregiving sectors. In addition, Japan’s revision of medical service reimbursements has solidified the permanence of online healthcare services. Across the globe, efforts are underway to enhance online healthcare services with essential data, daily life metrics, and disease-specific digital technologies.

There is also a growing trend of health consciousness among the general public which leads to an expanding demand for healthcare services and devices. The collection of essential data via wearable devices and the advancement of health management solutions leveraging this data are becoming increasingly advanced. Moreover, more companies are joining the platform business to facilitate “behavior change” which analyzes gathered information to clarify the correlation between health and various factors. As a result, there is expected rapid growth in the adoption of smart-ware solutions by medical institutions for evaluating patient conditions using biometric information.

Japan’s reliance on imported medical devices especially advanced technologies, underscores its market dynamics, with anticipated growth in demand for sophisticated medical technologies driven by its aging population. In addition, the demand for health technology is set to rise which encompasses devices, systems, and services across various sectors like sport, sleep, and beauty. Furthermore, advancements in AI enable the collection and analysis of mental health data which promotes the concepts of well-being throughout society.

However, cybersecurity issues pose a significant barrier to the expansion of Japan medical device market size. Considering medical devices increasingly connect to the internet and hospital networks, there is an increased susceptibility to cybersecurity breaches. Malicious entities could exploit weaknesses in software to illegally access and alter the devices.

Based on the product type, the medical and diagnostic equipment segment is poised to dominate the market, surpassing both consumables and supplies, as well as implants. Through medical evaluations and diagnostic protocols, doctors gain insights into all mentioned aspects and evaluate the effectiveness of chosen treatments in either curing or slowing the advancement of a particular condition.

Based on the application, the market is categorized into orthopedic, oncology, cardiovascular, dental, among others. Among these segments, orthopedics is expected to dominate the market as it addresses various chronic and acute musculoskeletal conditions through specialized medical, physical, surgical, and rehabilitative interventions.

Top market Players:

Various notable players operating in the market include Fuji Seiko, ARKRAY Inc., Connect K.K., Baxter International Inc. among others

Segments covered in the Report:

The Japan Medical Devices Market has been segmented on the basis of type of device and end-user. based on the type of device, the market is segmented into respiratory devices, cardiology devices, orthopedic devices, diagnostic imaging devices (radiology devices), endoscopy devices, ophthalmology devices, other devices. Based on the end-user, the market is segmented into hospital & ambulatory surgical center, clinics, others.

Market Segmentation

Japan Medical Devices Market by Type of Device

• • Respiratory Devices
  • Cardiology Devices
  • Orthopedic Devices
  • Diagnostic Imaging Devices (Radiology Devices)
  • Endoscopy Devices
  • Ophthalmology Devices
  • Other Devices

Japan Medical Devices Market by End-User

• • Hospital & Ambulatory Surgical Center
  • Clinics
  • Others

Japan Medical Devices Market Leading players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Fuji Seiko
  • ARKRAY Inc.
  • Connect K.K.
  • Baxter International Inc.