Japan Computed Tomography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan Computed Tomography Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan Computed Tomography (CT) market was valued at USD 312.15 million in 2021 and is projected to register a CAGR of 6.47% during the forecast period (2022-2027).

COVID-19 pandemic had a significant impact on the market studied. As per the data published by the National Institute of Health, in July 2020, COVID-19 affected cardiovascular surgery programs at hospitals in Japan's densely populated cities since early April 2020. In hospitals where a considerable percentage of COVID-19 patients were being treated in the ICU and/or when a nosocomial infection was found, elective cases were deferred. Additionally, on April 6, 2020, the Japanese Society for Cardiovascular Surgery published a Statement on the COVID-19 infection measures on its webpage, recommending postponing surgery for stable patients due to a lack of hospital and human resources, as well as transferring a patient to a nearby hospital for needed surgery if resources are not available. These recommendations further reduced the use of digital imaging in diagnosing cardiovascular diseases within the country, thereby impacting the market growth in regard to the applications of computed tomography in certain areas.

However, chest CT was affiliated by the World Health Organization to be used as a diagnostic major for COVID-19. This has increased the utilization of CT scans across the hospitals providing COVID-19 diagnosis in the country.

Major factors driving the growth of Japan's computed tomography market include the increasing burden of chronic diseases such as cancer, cardiovascular disease, orthopedic diseases, and diabetes among others. In addition, the geriatric population is more prone to chronic diseases due to the weak immune system. According to World Ageing Report 2021, Japan had 29% older people as a share of total population during the year 2020 which accounted for around 36.4 million. The report suggests that there will be more than 39.882 million old people in Japan by the year 2050 .This expected increase in the elderly population will increase the incidence rate of chronic diseases in the country, thus driving the use of computed tomography in their diagnosis, hence boosting the market.

Key Market TrendsThe Diagnostic Centers Segment is Expected to Witness Significant Growth in End Users

The rising prevalence of dental and cardiovascular conditions, cancers, and strategic measures being undertaken by many centers are contributing to the computed tomography market growth in Japan. The country's considerable healthcare investment is likely to drive market growth.

Furthermore, Fujifilm announced in April 2021 that it has invested USD 11 billion in its healthcare division and expects to generate JPY 2.7 trillion in revenue by 2023. In addition, in March 2021, the company acquired Hitachi's diagnostic imaging business. As a result of such strategic developments, diagnostic imaging services in Japan are poised to grow. These advancements will increase the use of diagnostic services such as CT, x-rays, ultrasound, and endoscopy, among others. This is expected to increase demand for CT imaging services at hospitals and diagnostic centers, propelling segment growth.

Additionally, various companies are constantly acquiring, partnering, and launching digital radiography-related devices. For instance, in November 2020, Canon Medical, announced the OMNERA 500A, a premium auto-positioning digital radiography system. Such strategic alliances may bolster the production of computed tomography within the country, making them available across all healthcare facilities, including diagnostic centers. Additionally, the increasing burden of cancer across the country is augmenting the demand for diagnostic imaging in Japan. For instance, as per the data from Globocan 2020 report, an estimate of around 1.03 million people in Japan was affected by cancer as of 2020. The large population affected by cancer in the nation increases the demand for the proper diagnostics of the disease for the healthcare providers to provide the proper surgical or non-surgical treatment. Thus, the rise in the demand for clinical diagnostic imaging is expected to boost the growth of the diagnostic imaging market in Japan over the forecast period.

As Japan has a developed healthcare system, these technologies have been implemented into the routine and have been helping the patients and physicians as well. Hence, an increased prevalence of cancer and the implementation of new technologies are expected to help this segment dominate the market.

Competitive Landscape

The computed tomography (CT) market is consolidated due to the presence of a few major players, including Canon Medical Systems Corporation, Koninklijke Philips NV, GE Healthcare, and Siemens Healthineers. These major players hold a significant share in the industry. Most of the players focus on bringing technologically advanced products into the market to acquire the maximum market share.

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