Japan’s Medical Device Market
A report published November 5, 2022 by the Department of Commerce’s International Trade Administration, describes Japan’s market for medical devices to be among the largest in the world.
Japan’s healthcare field, including the medical devices sector has recently experienced renewed attention. The COVID pandemic is one reason for this heightened attention on Japan’s healthcare sector. Another important factor for growing interest in Japan’s healthcare sector is the emergence of Japan’s digital health industry.
Japan’s Office of Healthcare Policy of the Cabinet Secretariat did a survey identifying key diseases in Japan that may require high levels of medical devices and pharmaceuticals for remediation purposes.
The survey identified the diseases associated with high medical needs such as 1) malignant neoplasm, 2) diabetes, 3) cardiovascular disease, 4) Alzheimer’s 5) pneumonia, 6) kidney disease, and 7) frailty and sarcopenia, including weakness, fractures, and elderly people falling.
U.S companies offer innovative solutions for these medical conditions as the companies produce a wide variety of medical devices and diagnostics in many of these disease segments.
Also, U.S companies that offer smartphone applications that promote behavioral changes that are able to monitor the progress, may find new opportunities in the Japanese market. In addition, U.S companies that produce devices and diagnostics that are minimally invasive or that use AI and robot-assisted technology may also find new commercial opportunities in Japan.
Go to https://www.trade.gov/country-commercial-guides/japan-medical-devices for the Report on Prospects for Medical Devices published November 5, 2022.