The medical device industry in Japan is the second largest in the world, and is well-acknowledged for its high-tech and high-quality medical device products, especially in the categories of diagnostic imaging, dental products, and medical optician technologies. In recent years, the Japanese government has also developed policies to further support the country鈥檚 medical device industry and helped facilitate the research and development (R&D) of innovative medical devices and regenerative products. Japanese medical device companies are expected to continue flourishing as the industry experiences steady growth.
Industry Overview for聽Japanese Medical Device Companies
According to a recent report from Emergo, the medical device industry in Japan was valued at US$28.1 billion in 2016 and it is projected to grow steadily through 2020 when it is expected to surpass US$31.7 billion. Factors such as Japan’s medical innovation, the growing aging population, the advancement of healthcare infrastructure, the continuous development of medical technology and the increasing medical device demand from global markets will be the main drivers for the growth of the medical device market in Japan.
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Japan鈥檚 Medical Device Industry Analysis
Japan has a very large aging demographic, which has become the key focus of the country鈥檚 healthcare industry. Today, over 25% of the Japanese population is older than 65, making Japan a very attractive market for foreign manufacturers, especially those marketing devices used in treating lifestyle and age-related conditions. There is strong medical device demand for interventional cardiology equipment, pacemakers, orthopedic implants, home care, preventative care, and innovative technologies, further pushing investors towards聽Japanese medical device companies.
Japan is home to many leading consumer technology companies that also design medical devices. Japan is one of the world鈥檚 leading manufacturers and exporters of many high-tech medical devices, such as diagnostic imaging, therapeutic and surgical equipment, bio-phenomena measuring and monitoring systems, home therapeutics, dialyzers, and endoscopes. Many Japanese medical device companies are also representing a high market share the global medical device market. Top Japanese medical device companies, in terms of sales, include Terumo, NIPRO, Olympus Medical Systems, Toshiba Medical Systems, Hitachi Medico, Nihon Koden, and Fukuda Denshi.
Read more:聽An Overview of the Medical Equipment Market in the US
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