Medical Devices Market in Japan by Product, Application, and End-user - Forecast and Analysis 2020-2024
- Published: Apr 2020
- Pages: 120
- SKU: IRTNTR40453
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The medical devices market size in Japan has the potential to grow by USD 6.65 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.
This report provides a detailed analysis of the market by product (medical and diagnostic equipment, consumables and supplies, and implants), application (orthopedic, cardiovascular, oncology, dental, gynecology and urology, ophthalmology, dermatology, and others), end-user (hospitals, diagnostic laboratories, and ASCs). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Baxter International Inc., Becton, Dickinson and Co., F. Hoffmann-La Roche Ltd., General Electric Co., Hitachi Ltd., Johnson & Johnson, Medtronic Plc, Nipro Corp., Siemens AG, and Terumo Corp.
Browse TOC and LoE with selected illustrations and example pages of medical devices market
Market Competitive Analysis
The market is fragmented. Johnson & Johnson, Medtronic Plc, Nipro Corp., Siemens AG, and Terumo Corp. are some of the major market participants. Although the availability of sophisticated healthcare infrastructure along with favorable government initiatives will offer immense growth opportunities, intense competition among domestic and foreign manufacturers will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this medical devices market forecast in Japan report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this medical devices market analysis in Japan report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Baxter International Inc.
- Becton, Dickinson, and Co.
- F. Hoffmann-La Roche Ltd.
- General Electric Co.
- Hitachi Ltd.
- Johnson & Johnson
- Medtronic Plc
- Nipro Corp.
- Siemens AG
- Terumo Corp.
Medical Devices Market in Japan: Segmentation by Application
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The orthopedic application segment will be one of the major contributors to medical devices market growth during the forecast period. The increased adoption of these devices for joint reconstruction, trauma fixation, spinal disorders, and partial and complete fixation of the knee and hip joints will drive market growth in this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the medical devices market share in Japan.
Medical Devices Market in Japan: Segmentation by Product
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The medical and diagnostic equipment segment is driven by high investment in the installation and maintenance of equipment and long product lifecycles. Vendors are focusing on developing innovative technologies that can aid in the accurate diagnosis and treatment of ailments. The revenue in Japan is generated mainly by the replacement of older equipment with newer ones. End-users do not prefer buying new equipment. They are instead inclined toward refurbished medical imaging equipment due to budgetary constraints.
Market growth in this segment will be slower than the growth of the market in the consumables and supplies and implants segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the medical devices market size in Japan.
Medical Devices Market in Japan: Key Drivers and Trends
The growing aging population and the prevalence of age-related disorders are identified as major factors that will drive medical devices market growth. The life expectancy in Japan has increased in recent years, owing to improved nutrition, better control of infectious diseases, and low fertility rates. This is driving the demand for pharmaceutical and medical devices market in Japan. The high prevalence of chronic diseases such as diabetes, COPD, osteoporosis, hypertension, and cardiac diseases will also drive the demand for medical devices in Japan.
The continuous demand for advanced technologies is one of the key medical devices market trends in Japan that will gain traction over the forecast period. Increasing healthcare system efficiency, improving healthcare services, and the growing preference for home care systems are expected to further boost the demand for the medical devices market in the region. Vendors are increasingly offering single-use, compact, minimally invasive medical devices that can be used at home. Additionally, various market players are adopting the robot-assisted surgical procedures in Japan. The adoption of modern technologies, coupled with the prevalence of age-related disorders, will drive market growth at a CAGR of almost 4% during the forecast period.
Medical Devices Market in Japan: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive medical devices market growth in Japan during the next five years
- Precise estimation of the medical devices market size in Japan and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the medical devices industry across Japan
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of medical devices market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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