Enjoy complimentary customisation on priority with our Enterprise License!
The Japan - Medical Devices Market size is forecast to increase by USD 15.56 billion, at a CAGR of 6.75% between 2023 and 2028.
There has been an increasing demand for minimally invasive procedures across the globe. In addition, ongoing advancements in technologies related to minimally invasive procedures have expanded the range of conditions that can be treated using these techniques. Moreover, the demand for sophisticated medical devices, such as minimally invasive surgical instruments, robotic-assisted surgery systems, and advanced imaging devices, has risen. Furthermore, patients and healthcare professionals increasingly prefer minimally invasive procedures due to benefits such as reduced scarring, quicker recovery, and less postoperative pain. Hence, such factors are positively impacting the market.
To learn more about this report, Download Report Sample
The in-vitro diagnostics segment is estimated to witness significant growth during the forecast period. IVD segment helps identify specific characteristics of diseases at the molecular and genetic levels that enable personalized treatment plans, tailoring interventions to individual patient profiles for more effective results. In addition, patients with chronic conditions or those undergoing treatment can be monitored regularly using IVD tests.
Get a glance at the market contribution of various segments Download PDF Sample
The in-vitro diagnostics segment was the largest segment and was valued at USD 5.44 billion in 2018. Moreover, this monitoring helps healthcare professionals assess the effectiveness of therapies and make necessary adjustments to treatment plans. In addition, IVD is instrumental in population-based screening programs for various diseases, allowing for the early identification of conditions such as cancer, diabetes, and infectious diseases. Furthermore, IVD devices play a crucial role in population-based screening programs aimed at detecting diseases in asymptomatic individuals. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Cardiology is the clinical area that comprises both diagnostic and therapeutic medical devices. In addition, interventional cardiology medical devices majorly include catheters, defibrillators, guidewires, stents, guidewires, and embolic protection devices. Moreover, diagnostic cardiology equipment majorly includes ultrasound, echocardiography, SPECT, and PET imaging, which can diagnose and detect various cardiac ailments. In addition, nuclear cardiology studies myocardial blood flow and evaluates the rate of blood pumping to organs. Furthermore, with the help of hybrid imaging systems, the diagnosis of many heart-related diseases is helping physicians make critical clinical decisions and plan treatment regimens. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Orthopedic medical devices are commonly used to minimize pain, restore mobility, and enhance the quality of life of patients with orthopedic disorders. In addition, the high incidence of osteoarthritis, rheumatoid arthritis, fractures, sports-related injuries, and accidents is likely to increase the adoption of orthopedic medical devices. Moreover, orthopedic medical devices are used for joint reconstruction, trauma fixation, spinal disorders, and partial and complete fixation of the knee and hip joints. Furthermore, spine fusion and non-fusion surgical devices are used to treat degenerative disc disease, spondylolisthesis, spinal stenosis, scoliosis, and fractures. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AI Medical Service Inc: The company offers medical devices such as Gastric AI-based Endoscopic Diagnostic Imaging Support System that analyze endoscopy images for potential diagnosis of gastric cancer.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
One of the key factors driving the market growth is the technological advancements in cardiac monitoring and cardiac therapy devices. Cardiac monitoring devices offer enhanced mobility, ease of use, streamlined workflow, and interoperability due to various technological advances. In addition, at present, many ECG devices provide simplified step-by-step operation, touchscreen systems, and improved connectivity with management systems, EMRs, and cardiovascular information systems (CVIS).
Moreover, recent technological advances in ECG stress devices include improvements in waveform analysis algorithms, improved connectivity with EMRs, and wireless lead systems to remove devices from patients. In addition, ECG stress devices have also become smaller and more flexible in their application. Hence, such factors are positively impacting the Japanese medical device market. Therefore, it is expected to drive the market growth during the forecast period.
A key factor shaping the market growth is the rising advancements in orthopedic implants. Several advancements in materials science have led to the development of new materials for orthopedic implants, including titanium alloys, cobalt-chromium alloys, and advanced ceramics. In addition, these materials offer improved strength, biocompatibility, and wear resistance, resulting in longer-lasting implants with reduced risk of complications.
For instance, Arcam EBM Spectra L from GE Healthcare Technologies Inc. has an integrated system architecture, standardized IoT interface, and data analytics for machine health, which help enhance initial fixation and allow for quick fusion and bone in-growth. Furthermore, biologic therapies, such as platelet-rich plasma, stem cell therapy, and growth factors, are being integrated into orthopedic treatments to promote tissue regeneration, accelerate healing, and improve implant integration. Therefore, it is positively impacting the Japanese medical device market. Hence, such factors are driving the market growth during the forecast period.
Cybersecurity risks associated with medical devices are one of the key challenges hindering market growth. With the rising connectivity of medical devices to hospital networks and the internet, there is a heightened risk of cybersecurity breaches. In addition, vulnerabilities in software and firmware could be exploited by malicious actors to gain unauthorized access or control over medical devices.
Moreover, medical devices often handle sensitive patient data, including personal health information (PHI). In addition, data breaches or unauthorized access to this information could have serious privacy implications and may violate regulations such as Japan's Act on the Protection of Personal Information (APPI). Furthermore, ensuring compliance with cybersecurity regulations and standards, such as ISO 27001 and the PMDAs guidelines for cybersecurity in medical devices, can be challenging for manufacturers. Therefore, it is negatively impacting the Japanese medical device market. Hence, such factors are hindering the market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Japan Medical Devices Market Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
In Japan, the medical devices market is witnessing significant growth driven by advancements in digital health, wearables, and healthcare businesses. With a focus on addressing prevalent health concerns like malignant neoplasm, cardiovascular disease, Alzheimer’s, pneumonia, kidney disease, and frailty, Japan is embracing advanced medical technologies and innovative solutions. Key trends in the Japanese medical devices market include the integration of IoT (Internet of Things), AI (Artificial Intelligence), and telemedicine to enhance patient care. In-home care, self-care, and preventive care are becoming increasingly important, supported by online medical services and medication guidance platforms.
The market also sees a rise in nursing care-related systems and services, including elderly care monitoring services and nursing care support systems. Health tech innovations are extending to areas like sleep and beauty, offering holistic approaches to healthcare management. Imports play a crucial role in bringing cutting-edge medical devices and technologies to Japan, driving the country towards better healthcare outcomes and improved patient well-being. As the demand for innovative medical solutions continues to rise, the Japanese medical devices market remains dynamic and promising.
Japan Medical Devices Market Scope |
|
Report Coverage |
Details |
Page number |
176 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.75% |
Market Growth 2024-2028 |
USD 15.56 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.21 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AI Medical Service Inc., ARKRAY Inc., B dot Medical Inc., Baxter International Inc., Becton Dickinson and Co., Canon Inc., Connect K.K., Cyfuse Biomedical K.K., F. Hoffmann La Roche Ltd., Fuji Seiko, GE Healthcare Technologies Inc., Hitachi Ltd., Johnson and Johnson, Medtronic Plc, Nipro Corp., Siemens AG, Terumo Medical Corp., Fukuda Sangyo Co. Ltd., ASTI Corp., and PerkinElmer Inc |
Market dynamics |
Parent market analysis,Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.