Japan In-vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan In-vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The field of in-vitro diagnostics has witnessed several changes and additions to its gamut of offerings in the recent past. There has been a paradigm shift from traditional diagnostics to a new generation diagnostics that work on the gene level. This was possible due to the inclusion of advanced technology, such as genetic testing, molecular diagnostics, Polymerase Chain Reaction (PCR), and Next-Generation Sequencing (NGS). Fast turnaround, reliability, user-friendliness, and predictability of predisposed diseases are few significant qualities, which helped these technologies attain their share in major offerings of diagnosis providers around the world and especially Japan. Increasing demand from the educated public for more information about their predisposition for serious diseases, and how these potential illnesses can be detected at an early stage, is driving the market for Japan in-vitro diagnostics. Furthermore, a growing burden of chronic and infectious diseases, increasing use of point of care (POC) diagnostics, and surging number of private hospitals and independent testing laboratories are some of the other factors contributing to the growth of the market. However, lack of proper reimbursement system in Japan, stringent regulations and limited budget of hospitals and laboratories in developing economies are also restraining the japan in-vitro diagnostics market.

Key Market TrendsInstruments segment dominates the Japan In-vitro Diagnostics Market

The population of Japan is aging rapidly. The health life expectancy has shown a dramatic increase in recent years. This trend is expected to shift the focus of the medical device industry from treatment to prevention. The IVD instruments are expected to play a major role in this shift. IVD instruments, such as glucose meters, chemical analyzers, clinical chemistry analyzers, hematology analyzers, urine analyzers, and immunochemistry analyzers are expected to find increased applications, with people starting to prefer prevention over treatment. Companies are increasing their R&D expenditures, and are continuously bringing integrated and closed systems to the market, in order to retain their market share. Moreover, outsourcing in instrumentation is increasing gradually instead of in-house instrumentation, owing to increased efficiency, speed, and low operating costs realized, due to the economics of scale. The aforementioned factors are expected to increase the market, during the forecast period.

Competitive Landscape

The market comprises of major market players and these players are moreover focusing on research and development in order to form a stable and safe formulation. The market has been noticing technological developments on a large scale for the past couple of years. For instance, in July 2017 Sysmex Corporation and bioMérieux announced that they had agreed to transfer all of Sysmex holdings in Sysmex bioMérieux Co., Ltd. (Tokyo, Japan) to bioMérieux. Key players in Japan In-vitro Diagnostics market are Biomérieux, Abbott Laboratories, Bayer AG, Bio-Rad Laboratories, Inc., Danaher Corporation, Johnson & Johnson, Nippon Becton Dickinson Company, Roche Diagnostics and Siemens amongst others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Abbott Laboratories
F Hoffmann La Roche
Becton Dickinson & Company
Danaher Corporation
Biomerieux
Bio
rad Laboratories Inc.
Thermofisher Scientific Inc.
Qiagen
Siemens Healthineers
Sysmex

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