MedTech

Businesses in MedTech Field

Nowadays, innovative digital technologies such as artificial intelligence (AI), virtual reality (VR) & augmented reality (AR), and IoT has been pervasively used in many industries. Ever since market launch of AI-used SaMD (Software as a Medical Device) in 2020, more than twenty products have obtained pharmaceutical approval. Deployment of AI-used SaMD is underway at some medical institutions.

SaMD used to be designed mainly for radiation images and endoscopes, but in recent years it has widened the modality and target diseases, which has increased the participating companies. As regulators have been under reform such as in organizational structure, inspection flows, and legislation, there will be environmental changes by FY2022 including granting of incentives in the medical fee system to for utilizing AI in healthcare.    

In 2023 large language models (LLM) have emerged and quickly become the social boom. Though there still are various challenges, the models are likely to be used in medial area that is in the middle of extremely rapid technological innovations. Hereafter digital technologies not only are projected to contribute to improved medical quality and productivity, but also to enormosly transform how healthcare should be. 
The development of products and services that provide new values by applying state-of-the-art ICT technologies for examination, diagnosis, and treatment for patients is underway. By referring such products and services as "MedTech", this report highlights their market trends and future perspectives.  

I    Overview

1. Market Outline
   1) Interest in AI has rapidly increased due to Generative
        AI
   2) Definition of MedTech market
   3) AI (Artificial Intelligence)
   4) XR (VR, AR, MR)
   5) Trend of utilizing AI and XR in medical area
2. Prevalence and Interest in ICT in Japan
3. Status of Medical Care in Japan
   1) National medical fee rising year by year
   2) Despite increase in number of doctors, they are
       concentrated in certain departments
   3) Although ICT deployment in medical care has
       infiltrated, the implementation rate of electronic
       medical record systems is only about 57%
4. Trends of MedTech-related Policy
5. Trends of MedTech-related Regulations and Guidelines
   1) Introduction of an approval system applied to AI
       through revision of the Pharmaceutical and Medical
       Device Act
   2) Two-factor authentication system is to be hammered
       out to propel earlier implementation of state-of-the-
       art SaMD
   3) In FY2024 revision of medical fee, use of AI for
       diagnostic imaging has approved to be covered by
       insurance
   4) Principle/Guidelines regarding AI
   5) Next Generation Medical Infrastructure Law
6. Challenges to Diffuse AI and XR in Medical Field
7. MedTech-related R&D Trends
8. Future Perspectives in MedTech Market

II   Market Trends by Segment

1. AI-Assisted Diagnosis Market
2. AI-Assisted Medical Treatment Market
3. Major Attempts on AI Platform for Medical Care
4. Overseas Trends on Healthcare AI
5. AI-Assisted Drug Discovery Market Trends
6. Medical (VR/AR/MR) Market

III    Key Enterprises

• Aillis, Inc.
• AI Medical Service Inc.
• LPIXEL Inc.
• CANON MEDICAL SYSTEMS CORPORATION
• CLAIRVO TECHNOLOGIES INC.
• KONICA MINOLTA JAPAN, INC.
• Splink, Inc.
• DeepEyeVision Inc.
• Techlico Inc.
• HACARUS INC.
• BiPSEE, Inc.
• FUJIFILM Medical Co., Ltd.
• FRONTEO,Inc.
• MOLCURE Inc.