Market Size of Japan Ultrasound Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 474.18 Million |
| Market Size (2029) | USD 637.54 Million |
| CAGR (2024 - 2029) | 6.08 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Ultrasound Devices Market Analysis
The Japan Ultrasound Devices Market size is estimated at USD 474.18 million in 2024, and is expected to reach USD 637.54 million by 2029, growing at a CAGR of 6.08% during the forecast period (2024-2029).
The COVID-19 pandemic significantly impacted the ultrasound devices market in Japan, as the diagnostic procedures, including ultrasound procedures for various cardiovascular and gynecological procedures, were greatly affected during the pandemic. Also, fewer elective surgeries occurred during the pandemic, which required ultrasound as an initial diagnostic tool. For instance, according to an article published by PubMed Central in November 2021, the initial COVID-19 pandemic restricted the delivery of standard medical care to surgical patients in Japan. Thus, the pandemic had a significant effect on the market initially. However, the demand for ultrasound devices is expected to remain consistent during the post-pandemic period, thereby boosting the market's growth over the forecast period.
Ultrasound devices are widely used to diagnose cardiovascular diseases, gynecological diseases, musculoskeletal diseases, and cancer, among others; thus, with Japan's rising chronic disease burden, the demand for ultrasound devices is expected to grow over the forecast period. For instance, according to an article published by THE LANCET Regional Health in November 2022, a study was conducted in Japan in 2022, which showed that the country has a high burden of cardiovascular diseases such as stroke, among others.
Moreover, according to an article published by SpringerLink in January 2023, a study was conducted in Japan, which showed that the weighted prevalence of cardiovascular diseases and atherosclerosis in the study population was 37.3% and 33.5%, respectively. The source also stated that carotid artery disease, coronary heart disease, and cerebrovascular diseases were among the most common subtypes of cardiovascular diseases.
Moreover, according to an article published by BMC Musculoskeletal Disorders in August 2022, a study was conducted in Japan which showed that the pooled prevalence of chronic musculoskeletal pain was 39.0% in Japan, among which the majority in men was 36.3% and women 41.8%, and the prevalence increased with age. Thus, the high prevalence of such chronic diseases, along with the rising geriatric population in Japan, is expected to enhance the usage of an ultrasound devices for diagnosis, thus driving the market growth.
Additionally, the rising developments by key players and various organizations, such as agreements, partnerships, product launches, and acquisitions, are also expected to enhance the market growth, as they are expected to increase access to technologically advanced products in Japan. For instance, in January 2021, Olympus Corporation and Hitachi, Ltd. signed a five-year contract in Tokyo to develop endoscopic ultrasound systems (EUS) jointly. Hitachi would also continue to supply diagnostic ultrasound systems and related parts used in EUS to Olympus under this contract.
Thus, the factors mentioned above, such as the high prevalence of chronic diseases in Japan and the rising developments, are expected to boost market growth. However, stringent regulations are expected to impede the growth of the market.
