Market Trends of Japan Patient Care Monitoring Equipment Industry
Remote Patient Monitoring Devices are Expected to Show a Significant Growth Rate in the Japan Patient Care Monitoring Equipment Market Over The Forecast Period
- Remote patient monitoring (RPM) devices allow providers to monitor, report, and analyze their patient's acute or chronic conditions outside the hospital or clinic setting. They enable the practitioner to understand the patient's disease state and take preventative clinical actions.
- The remote patient monitoring segment is expected to witness significant growth over the forecast period owing to factors such as the rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, hypertension, respiratory diseases, neurological diseases, and others and the growing preference for home and remote monitoring. For instance, according to the International Diabetes Federation 2022 statistics, 11,005 thousand people in Japan were living with diabetes in 2021. In addition, this number is projected to reach 10,542.7 thousand by 2030. The high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke, which can narrow the arteries. This is anticipated to raise the need for monitoring glucose levels, blood pressure, and other activities, which is expected to increase the demand for monitoring devices that can provide data to physicians to help them more effectively evaluate patient conditions and react quickly to any abnormalities, thereby propelling the market growth.
- Furthermore, according to an article published in November 2022 in the Journal of Medical Internet Research, telemonitoring is widely used to reduce mortality and improve self-management of chronic disease. Patients also report good satisfaction and adherence to a digital device for remote patient monitoring. Therefore, the growing adoption of telemonitoring and remote patient monitoring is expected to boost the segment's growth during the forecast period.
- Furthermore, the rising product launches are likely to contribute to the market growth over the forecast period. For instance, in March 2022, the Japanese Ministry of Health, Labour, and Welfare approved the expansion of reimbursement coverage for Abbott's FreeStyle Libre system to include all people with diabetes who use insulin at least once a day. The expanded coverage enables more people with diabetes to access the glucose data needed to manage their condition without the routine fingersticks associated with conventional blood glucose monitoring. Also, in July 2021, Terumo Corporation launched the Dexcom G6 continuous glucose monitoring (CGM) system, a medical device that supports diabetes control, in Japan. The system allows real-time glucose monitoring by using a compact, wearable sensor and transmitter to measure and automatically transfer glucose values wirelessly to a smart device or receiver every five minutes. Such launches and government initiatives are estimated to boost the demand for remote patient monitoring in the country during the analysis period.
- Therefore, due to the aforementioned factors, such as the high burden of chronic diseases, the adoption for remote patient monitoring, and the advantages offered, the segment is expected to witness healthy growth over the forecast period.
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Cardiology Segment is Expected to Hold a Significant Market Share Over The Forecast Period
- Patient care monitoring equipment plays a vital role in the management and monitoring of cardiovascular diseases. The diseases include heart attack, stroke, cardiac arrhythmia, etc. Some of the equipment used in cardiological monitoring include cardiac rhythm management devices.
- A high burden of cardiovascular diseases in the country is likely to propel the growth of the segment over the analysis period. For instance, a research study published in BioMed Central Public Health Journal stated that in Japan, cardiovascular diseases (CVD) are among the top contributors to the disease burden that, accounts for over 20% of the total medical expenditure consumption in Japan. Also, the high burden of smoking in the country is associated with cardiovascular risks, thereby boosting the segment's growth. For instance, an article published in the Journal of Epidemiology in June 2021 reported the prevalence of smoking was 38.4% in Japan. Therefore, the high prevalence of CVD and smoking is projected to boost the usage of patient care monitoring equipment for the proper treatment and prevention of the condition, thereby propelling segment growth over the forecast period.
- Several market players are engaged in partnerships, launches, and acquisitions that support the market growth in the country. For instance, in September 2021, Astellas, Nitto Denko Corporation, and M. Heart Co., Ltd. collaborated to develop a solution for the early detection of atrial fibrillation using a disposable Holter ECG device and artificial intelligence (AI)-based Analysis Service. Such collaborations are projected to boost the usage of cardiovascular patient monitoring equipment in the country and propel the segment growth during the analysis period.
