London, 24 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the medical devices market in Japan 2015-2019, which is expected to grow at a CAGR of 2.49% during the forecast period of 2014-2019.
Increasing focus on advanced cardiology products, orthopedic implants, and advanced diagnostic equipment are some of the factors promoting growth in the medical devices market in Japan. Additionally, government initiatives such as accelerating the medical devices approval process and custom duty exemptions also aid in the growth of this market. Increasing usage of devices that alleviate pain and concentrate on growth areas such as preventive care and outpatient care are expected to enhance market growth.
“Rapid and early diagnosis by POC devices are useful in patient care management and infectious disease screening during a disease outbreak. These devices are considered important for home-care testing as early detection and diagnosis can avoid severe and often fatal complications,” says Faisal Ghaus, Vice President of Technavio.
“The growing demand for home-care testing using point-of-care (POC) devices coupled with the paradigm shift from hospital testing to home-care testing has generated an opportunity for POC device manufacturers.”
Key Market Drivers:
- Highly Developed, Technologically Advanced Infrastructure.
- Universal Insurance Coverage.
- Focus on Consumer Health Concerns.
- Growing Aging Population.
Key Market Trends:
- Increase in Emphasis on Improved Treatment and Health Maintenance.
- Emerging Market for Home-care Testing.
- Restructuring of Medical Devices Companies in Japan.
Key Market Vendors:
- Baxter International Inc.
- GE Healthcare
- Johnson & Johnson Ltd.
- Medtronic Inc.
- Siemens Healthcare AG
- Hitachi Medico Corp.
- Nipro Corp.
- Olympus Medical Systems Corp.
- Terumo Corp.
- Toshiba Medical Systems Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
