No.3705
Medical Diagnostic Equipment Market in Japan: Key Research Findings 2024
Financial Constraints Prevent Medical Institutions from Replacing Diagnostic Equipment in FY2024
Yano Research Institute (the President, Takashi Mizukoshi) carried out a survey on the medical diagnostic equipment market in Japan, and found out the trends by product segment, trends of market players, and future outlook.
Market Overview
This research focuses on 32 types of medical diagnostic equipment (covering 37 products across 57 categories) used in medical institutions, including hospitals, clinics, and medical centers. The market size for medical diagnostic equipment in FY2023 is projected at 376,522 million yen, reflecting a 2.0% decline from the previous fiscal year (based on the sales of distributors). While certain products that had been deprioritized during the COVID-19 crisis begin to recover, the overall market was impacted by decreased demand for items that had previously experienced excessive demand due to subsidies.
Noteworthy Topics
Vital Sign Assessment Instruments & Vital Sign Monitors (From High-End to Mid-Range Products)
The market for vital sign assessment instruments and monitors (from high-end to mid-range 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.
Specifically, demand for vital sign monitors declined in FY2023 following a post-COVID-19 pullback. Sales of cerebral oximetry also decreased, reflecting the impact of new product launches in the previous fiscal year. Meanwhile, sales of fractional flow reserve (FFR) measuring devices were affected by the introduction of virtual FFR, a non-invasive method for evaluating coronary artery stenosis. As a result, the market for vital sign assessment instruments and monitors (from high-end to mid-range products) fell 6.3% year-on-year to 54,675 million yen in FY2023, but is projected to grow 0.9% year-on-year to 55,170 million yen in FY2024.
Future Outlook
In addition to the demand pullback, business deterioration at hospitals is impacting the renewal of medical equipment in FY2024, especially large imaging modalities. Conversely, there is a substantial demand for replacing medical equipment that became obsolete during the pandemic. Considering the situation, we anticipate the market size of medical diagnostic equipment in FY2024 to rise by 2.4% year-on-year to 372,106 million yen.
Research Outline
2.Research Object： Domestic manufacturers of medical diagnostic equipment and distributors of imported medical diagnostic equipment in Japan
3.Research Methogology： Face-to-face interviews by expert researchers (including online), interviews via telephone, and questionnaire
In this research, the market of medical diagnostic equipment is comprised of 32 items (37 products/57 categories) used at medical institutions (hospitals, clinics, and medical centers), including 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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