No.3705
Biomedical Instruments (for Diagnosis) Market in Japan: Key Research Findings 2024
Biomedical Instruments (for Diagnosis) Market for FY2024 Anticipated to Confront The End of Demand Growth Resulting from COVID-19-Associated Subsidies, Decline in Business at Medical Facilities Due to Soaring Expenses, and Lengthening of Instrument Replacements Due to Budget Halt
Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the biomedical instruments (for diagnosis) market in Japan, and found out the trends by product segment, trends of market players, and future outlook.
Market Overview
This research targets 32 diagnostic biomedical instruments (37 products/57 categories) used at hospitals, clinics, medical centers, etc.
The market size for biomedical instruments (diagnostic instruments) for FY2023 is projected to be 376,522 million yen, reflecting a decline of 2. 0% from the previous fiscal year (based on the sales of distributors). Although certain products that were previously considered lower priority for budget allocation during the COVID-19 crisis began to pick up steam, a decrease in demand observed among products that had experienced excessive demand due to subsidies affected the overall market.
Noteworthy Topics
Vital Sign Assessment Instruments & Vital Sign Monitors (High-End to Middle Grade Products)
The market for vital sign assessment instruments and monitors (high-end to middle grade products) targets those equipped at medical institutions from large-scale hospitals to general clinics, which not only include vital sign monitors but also electrocardiograph, electroencephalograph, evoked potential inspection devices, etc., and those products specifically employed at each medical department.
When examining the FY2023 market conditions in detail, the vital sign monitor indicated a decrease in demand following a rapid increase in demand driven by the COVID-19-related subsidies. The sales of cerebral oximetry also experienced a decline against the backdrop of a swift increase in sales of newly launched products in the previous fiscal year. The sales of fractional flow reserve (FFR) measuring devices were affected by the advent of virtual FFR, a non-invasive approach to evaluate coronary artery stenosis. In light of these considerations, the market for vital sign assessment instruments and monitors (high-end to middle grade products) for FY2023 is projected to decline by 6.3% year-on-year, totaling 54,675 million yen, while for FY2024 it is expected to grow by 0.9% year-on-year to reach 55,170 million yen.
Future Outlook
In addition to the decline in sales of certain products that previously saw heightened demand due to COVID-19 related subsidies, delays in the renewal of biomedical instruments at hospitals caused by deteriorating business conditions are expected to impact sales of biomedical instruments used for diagnosis in FY2024, especially regarding large imaging modalities. Conversely, there is a substantial demand for the replacement of certain biomedical instruments whose renewals were postponed during the COVID-19 pandemic. Considering the situation, we anticipate that the market size of biomedical instruments for diagnostics in FY2024 will increase by 2.4% year-on-year, reaching 372,106 million yen.
Research Outline
2.Research Object： Manufacturers of biomedical instruments and distributors of imported instruments in Japan
3.Research Methogology： Face-to-face interviews by expert researchers (including online), interviews via telephone, and questionnaire
The market of biomedical instruments for diagnosis in this research is comprised of 32 items (37 products/57 categories) of diagnostic instruments used at medical institutions such as hospitals, clinics, and medical centers. These include X-ray computed tomography (CT) scanners, magnetic resonance imaging (MRI) scanners, diagnostic imaging systems represented by various X-ray imaging solutions and ultrasonic diagnostic equipment, vital sign assessment instruments and monitors represented by vital sign monitors and electrocardiograph, endoscope systems (including surgical ones), and other specific products employed at each medical department.
＜Products and Services in the Market＞
Electrocardiograph (ECG), Vital Sign Monitor, Polygraph System, Electroencephalographic (EEG) and Electromyographic (EMG) Systems, Endoscope, Handheld Endoscope, Ultra-thin Endoscope and System, Ultrasound Imaging Equipment, Intravascular Ultrasound (IVUS) System/ICUS/ICE, X-ray Computed Tomography (CT) Scanner, Magnetic Resonance Imaging (MRI) Scanner, Angiographic Equipment and System, Cardiovascular X-ray Scanner, Surgical X-ray TV System, Mobile (doctor's round visit) X-ray Scanner, Positron Emission Tomography (PET), Magnetoencephalograph (MEG), Bone Densitometer, Imager, Printer (incl. the one for thermal type network), Automatic Image Processor, Thermal Video Printer, Computed Radiography (CR), Digital Radiography (DR), Flat Panel Detector (FPD), Fractional Flow Reserve (FFR), (Continuous) Cardiac Output (CCO) Monitoring System, Pulse Oximeter, Cerebral Oximetry, Transcutaneous Blood Gas Partial Pressure Measurement Apparatus, Blood Flowmeter, Anesthetic Gas Monitor, Non-invasive Automatic Blood Pressure Monitor, (Hospital) Digital Thermometer, Deep Body Thermometer, Urodynamics, Uroflowmeter, Stethoscope
Published Report
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