The article discusses projected growth trends for Japan’s medical devices market. The forecast compound annual growth rate (CAGR) for 2022-2027, factoring in local and USD dollar terms, is maintained at 4.1% and 6.9% respectively. This growth would culminate in an estimated market value of JPY828.2bn (USD7.2bn) by 2027. The primary drivers of market growth are Japan’s large and increasingly elderly population and a high prevalence of non-communicable diseases. Within the market, orthopaedics & prosthetics is anticipated to be the fastest-growing product category. However, diagnostic imaging will remain the largest product category, facilitated by the integration of data automation and artificial intelligence (AI). The article notes a potential negative impact of reduced economic growth in Japan and global economic slowdown on the market and exports in 2024. Case instances highlighting the integration of AI and data automation in diagnostic devices by companies like Shimadzu and Olympus are also mentioned.
“Healthcare”, “Artificial Intelligence”,”Japan”, “Global”
https://www.fitchsolutions.com/medical-devices/diagnostic-imaging-will-remain-key-product-area-japans-medical-devices-market-21-11-2023