The medical devices market share in Japan will post an incremental growth of USD 6.65 billion, progressing at a CAGR of 4% during the forecast period. The availability of sophisticated healthcare infrastructure along with favorable government initiatives will offer immense growth opportunities to market vendors. The medical devices market in Japan is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Medical Devices Market in Japan by Product, Application, and End-user - Forecast and Analysis 2020-2024” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The medical devices market in Japan is segmented 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).
The growth of the medical devices market size in Japan by the orthopedic segment will be significant during the forecast period. The increased adoption of orthopedic 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.
The availability of sophisticated healthcare infrastructure along with favorable government initiatives will directly influence the medical devices market in Japan. In addition, the advent of DevOps is one of the major medical devices market trends in Japan that will positively impact the market growth. However, factors such as the intense competition among domestic and foreign manufacturers will hamper the medical device market growth in Japan.
The market is fragmented due to the presence of several players. Some of the major medical devices market vendors in Japan are 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.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2020-2024.
CAGR of the medical devices market in Japan forecast during 2020-2024.
Market-level data on units, average selling prices, and values of the medical devices market share in Japan.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the medical devices market in Japan.
Medical devices industry growth across Japan