Japan Diagnostic Imaging Market - Segmented by Product, Application, and End User - Growth, Trends, and Forecast (2018 - 2023)
The Japanese diagnostic imaging market is expected to register a CAGR of 6.8% during the forecast period of 2018–2023. MRI is anticipated to dominate the market during the forecast period owing to the growing application of MRI in diagnosis.
Rapidly Aging Population
The rapidly aging population in Japan has put strong pressure on its health system. The share of the population over 65 is projected to increase from 23% in 2010 to 39% in 2050, while the share of the population over 80 is expected to increase from 6% to 17%. The growth in the aging population has lead to an increase in the demand for imaging services, since elderly population is more prone to chronic diseases, and patients aged 65 and above, undergo diagnostic imaging two or more times more than the younger population. Additionally, technological advancement in imaging modalities, growing awareness about preventive care, and growing healthcare expenditure in the country are further driving the market for diagnostic imaging.
High Cost of Advanced Imaging Modalities
The diagnostic imaging is experiencing tremendous growth, and new and innovative high-advance imaging modalities are constantly being introduced in the market. The diagnostic imaging system, such as CT scan, can be divided into various categories on by resolution capacity. Resolution capacity increases with the increasing number of slice in CT scan. Low-end CT scan has few slices and low-resolution capacity, whereas high-end CT scan has the best resolution capacity. The price of CT scan increases with increase in the number of slices, and the cost for multi-sliced (320 or 640 slices) can go up to millions. The cost for one test (scan) is also high ranging between USD 100 - 1000. The PET and SPECT devices are also very expensive. The high cost of advanced devices is likely to impede the market of diagnostic imaging in Japan. Additionally, the dearth of skilled technicians is also likely to restrict the growth of the market in Japan.
MRI to Dominate the Market
MRI is set to dominate the Japanese diagnostic imaging market in the product segment. The factors attributing to the high growth of MRI in the country are growing application of MRI in the medical field. CT scan and nuclear medicine are anticipated to grow at a high pace during the forecast period in Japan owing to factors, such as the presence of the highest number of diagnostic imaging instruments, such as CT and MRI devices, and ease in access to them, as well as, a high level of diagnostic accuracy in the country.
Key Developments in the Market
- March 2018: Canon Medical Systems Corporation acquired Dutch medical equipment manufacturer, Fysicon B.V.
- April 2017: Toshiba Medical Systems Corporation launched two latest 1.5-tesla MRI systems – Vantage Titan™ Zen Edition and Vantage Elan™ Zen Edition.
Major players- CARESTREAM HEALTH, FUJIFILM HOLDINGS CORPORATION, GE HEALTHCARE, HITACHI MEDICAL CORPORATION, HOLOGIC, INC., KONINKLIJKE PHILIPS N.V., SHIMADZU CORPORATION, SIEMENS AG, CANON MEDICAL SYSTEMS CORPORATION, AND VARIAN MEDICAL SYSTEMS, amongst others.
Reasons to Purchase the Report
- Follow the current and future Japanese diagnostic imaging market in the developed and emerging markets.
- Analysis of various perspectives of the market with the help of Porter’s Five Forces Analysis.
- Identify the segment that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in Excel).
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- 1. Introduction
- 1.1 Market Definition
- 2. Research Methodology
- 3. Executive Summary
- 4. Key Inferences
- 5. Market Overview
- 5.1 Current Market Scenario
- 5.2 Porter's Five Forces Analysis
- 5.2.1 Bargaining Power of Suppliers
- 5.2.2 Bargaining Power of Consumers
- 5.2.3 Threat of New Entrants
- 5.2.4 Threat of Substitute Products and Services
- 5.2.5 Competitive Rivalry within the Industry
- 6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- 6.1 Drivers
- 6.1.1 Rapidly Aging Population in Japan
- 6.1.2 Technological Advancement in Imaging Modalities
- 6.1.3 Growing Awareness Regarding Preventive Care
- 6.1.4 Growing Healthcare Expenditure
- 6.2 Restraints
- 6.2.1 Dearth of Skilled Technicians
- 6.2.2 High Cost of Advanced Imaging Modalities
- 6.3 Opportunities
- 6.4 Key Challenges
- 7. Market Segmentation
- 7.1 By Product
- 7.1.1 X-ray Radiology
- 7.1.2 Ultrasound
- 7.1.3 Magnetic Resonance Imaging (MRI)
- 7.1.4 Mammograph
- 7.1.5 Computed Tomography
- 7.1.6 Nuclear Medicine
- 188.8.131.52 Positron Emission Tomography (PET)
- 184.108.40.206 Single-photon Emission Computerized Tomography (SPECT)
- 7.2 By Application
- 7.2.1 Cardiology
- 7.2.2 Oncology
- 7.2.3 Neurology
- 7.2.4 Orthopedic
- 7.2.5 Others
- 7.3 By End User
- 7.3.1 Hospitals
- 7.3.2 Diagnostic Centers
- 7.3.3 Others
- 8. Competitive Landscape
- 8.1 Mergers & Acquisition Analysis
- 8.2 Agreements, Collaborations, and Partnerships
- 8.3 New Products Launches
- 9. Key Players
- 9.1 Canon Medical Systems Corporation
- 9.2 Carestream Health
- 9.3 Fujifilm Holdings Corporation
- 9.4 GE Healthcare
- 9.5 Hitachi Medical Corporation
- 9.6 Hologic, Inc.
- 9.7 Koninklijke Philips N.V.
- 9.8 Shimadzu Corporation
- 9.9 Siemens AG
- 9.10 Varian Medical Systems
- 9.11 List not Exhaustive
- 10. Future of the Market