Japan Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan Ultrasound Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan's ultrasound devices market was valued at USD 399.02 million in 2021 and is projected to register a CAGR of 6.08% during the forecast period (2022-2027).

COVID-19 had an adverse impact on the ultrasound devices market in Japan. An article titled "The Impact of COVID-19 on Surgical Procedures in Japan: Analysis of Data from the National Clinical Database" was published in the Springer Journal 2020. The rate of deterioration in surgery was just 10% to 15%. There was no discernible change in the number of pancreaticoduodenectomy and aortic replacement procedures conducted in 2020, despite a decline in the number of oncological and cardiovascular procedures performed that year. In addition, the number of cervical, breast, lung, and stomach screening operations fell by about 10% in May 2020 compared to the same month the previous year, reports the Japan Cancer Association (JCA). Additionally, somewhat fewer imaging studies were finished in April and May 2020. When suspected or confirmed patients are evaluated, medical professionals must wear disposal caps, glasses, medical masks, disposal protection clothes/impermeable isolation garments, hand gloves, and shoe covers to prevent the virus from spreading among the personnel. As a result, administrative costs in the Japanese healthcare industry have gone up. Thus, the market is expected to grow in the future.

With the rising disease burden, ultrasound devices are expected to grow over the forecast period of the study. There are several players who are technologically advanced offering products in the market and consistently upgrading their technology. The article titled "National genotype prevalence and age distribution of human papillomavirus from infection to cervical cancer in Japanese women: a systematic review and meta-analysis procedure" was published in the National Library of Medicine in 2020, At 4.4/100,000 (2900 deaths per year), cervical cancer mortality in Japan is higher than in other comparable high-income nations. This is due to very low cervical screening rates (below 30%) and vaccination rates (below levels that confer any population effect; 0.3% of the eligible population). The use of ultrasonography is becoming more popular across the nation as a result of its role in the early detection of cervical cancer. Consequently, it is anticipated that the ultrasound market would grow here. Furthermore, it is anticipated that the study market would rise as a result of technological developments in ultrasound technology and the introduction of new products by major regional players. For instance, Royal Philips introduced Lumify in June 2020, a high-quality handheld tele-ultrasound solution with Reacts that is currently on the market in Japan. The goal of Philips' tele-ultrasound solution is to make high-quality portable ultrasound available in Japan. It was introduced there with a novel subscription model that is exclusive to the sector. Thus, the abovementioned factors are expected to increase market growth.

Key Market TrendsPortable Ultrasounds Segment is Expected to Hold a Significant Market Share Over the Forecast Period

The major factors driving the growth of Portable Ultrasounds include advanced technology, a rising cancer prevalence that required point of care diagnostics, and rising awareness regarding the availability of Portable Ultrasounds. The GlOBOCAN 2020 report states that Japan reported 1,028,658 new cases of cancer in 2020 and that the total number of five-year prevalent cases of cancer was 2,710,728. Additionally, the same report predicted that the cases of cancer will reach 1,110,549 by 2030 and 1,128,057 by 2040, which shows a high increase in the cases of cancer in the country. As a result, the demand for ultrasound devices in the country will rise for detection and diagnostics. Rising technical developments are anticipated to drive the market growth, supported by key companies' releases of innovative products. According to a news release, Japan's healthcare authority approved Lumify for suitable handheld devices in the country's healthcare sector in 2020 to make high-quality, portable ultrasonography available practically anywhere in the nation. However, the government and healthcare groups are taking a number of steps to expand the accessibility of medical equipment in the nation. The development of strong healthcare facilities in the nation and the expanding availability of portable ultrasonography for diagnosis and treatment hence fuel the market for ultrasound devices. Thus, the above-mentioned factors are boosting the segment growth in the forecast period.

Competitive Landscape

Japan ultrasound devices market is moderately competitive and consists of several major players. Some of the companies that are currently dominating the market are Canon Medical Systems Corporation, Siemens Healthineers AG, GE Healthcare, Fujifilm Holdings Corporation, and Koninklijke Philips NV among others.

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