BMI Industry View: We expect the Japanese medical device market to grow at a marginally faster pace than the economy, at just over 1% in US dollar terms to 2019. Local manufacturers will continue to dominate by serving around 60% of the market but the sheer size of the market, second only to the USA , continues to provide a lucrative income stream for multinationals. We expect the market to return to growth in US dollar terms in 2016 , following the devaluation of the yen against the dollar . The current trend of Japanese manufacturers seeking acquisition opportunities abroad to expand their footprint and seek new growth opportunities will continue to play out .
Headline Industry Forecasts
The Japanese medical device market remains the second largest in the world, behind only the USA. In US dollar terms, we forecast that the market will expand by a CAGR of 1.1%, which should see it rise from an estimated USD28,100.9mn in 2014 to USD29,625.6mn in 2019. Due to exchange rate differences, we anticipate that the market growth in local currency terms will be higher, recording a CAGR of 3.6% during the forecast period.
Japan is the world's third largest importer of medical devices, behind only the USA and Germany. In local currency terms, imports rose by 6.6% y-o-y to reach JPY1,250.4bn in 2014, compared with JPY1,172.9bn reported in 2013. In US dollar terms, due to exchange rate differences, imports fell by 1.7% to USD11,810.2mn in 2014, compared with USD12,016.8mn in 2013. Based on the latest collated monthly data, imports to the year ending July 2015 fell by -9.8% to USD11,045.1mn.
Japan is amongst the world's top 10 largest medical device exporters. In US dollar terms, exports rose by 0.3% to USD6,737.3mn in 2014, compared with USD6,720.1mn in 2013. In local currency terms, exports rose by 8.8% to reach JPY713.4bn in 2014, compared with JPY655.9bn in 2013.Based on the latest collated monthly data, exports to the year ending July 2015...
The Japan Medical Devices Report features market forecasts supported by trade, production and healthcare estimates by Espicom, a BMI Research's company. These forecasts and estimates focus on six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices.
Detailed product breakdown for market, trade and production data in Japan provides industry professionals, strategists, company executives and analysts with independent forecasts and competitive intelligence on the Japan Medical Devices industry.
- Benchmark BMI's Medical Devices market forecasts, which take into account macroeconomic and industry-specific forecasts for Japan, to test analysis as it is a key input for budgeting and strategic business planning. Use our standardised data to gain a better understanding of market performance in Japan.
- Target Business Opportunities in the Japan Medical Devices market by using our assessments and projections for demographic trends, regulatory developments, investment dynamics and domestic demand in Japan.
- Assess the activities and market position of your competitors via our assessments of domestic production, national and multinational manufacturers, along with the trade and distribution outlets of multinationals, key company developments and future growth prospects.
BMI Industry View
Provides industry, political and economic views. Briefly analyses the medical devices market, taking into account the latest industry forecasts, healthcare indicators and industry trends & developments.
SWOT analyses of the medical devices market, the political environment, the economic landscape and the business environment.
Evaluates and analyses the medical devices market in terms of historical and forecast trends, covering six product areas: Consumables, Diagnostic Imaging, Dental Products, Orthopaedics & Prosthetics, Patient Aids and Other Medical Devices. Additionally, presents annual and monthly import and export trade data.
Presents macroeconomic forecasts impacting the medical devices market.
Industry Risk Reward Index
Risk Reward Indices tool, which provides a globally comparative and numerically based assessment of the medical devices market’s attractiveness.
Assesses the medical devices market in the current year. Additionally, covers healthcare trends shaping the market, focusing on health status, healthcare system, healthcare funding, healthcare resources, healthcare activity and healthcare personnel. Includes historical healthcare data.
Industry Trends & Developments
Analyses the latest industry trends and developments shaping the market, in terms of monthly trade performance, forecast trends, production changes, regulatory developments, competitive strategies, political events and economic performance.
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Values historical medical devices production, and analyses the presence of national and multinational manufacturers operating in the market. Also, compares the presence of leading multinational company operations, either via sales & marketing, distribution or manufacture. Finally, takes into account market access drivers, including major distribution channels, trade associations and trade shows.
Carefully explains the medical devices market methodology, trade classifications, Risk Reward Index methodology and sources used in the medical devices market Report.