Market Trends of Japan Ultrasound Devices Industry
This section covers the major market trends shaping the Japan Ultrasound Devices Market according to our research experts:
Portable Ultrasounds Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The major factors driving the growth of Portable Ultrasounds include advanced technology, a rising cancer prevalence that required point of care diagnostics, and rising awareness regarding the availability of Portable Ultrasounds. The GlOBOCAN 2020 report states that Japan reported 1,028,658 new cases of cancer in 2020 and that the total number of five-year prevalent cases of cancer was 2,710,728. Additionally, the same report predicted that the cases of cancer will reach 1,110,549 by 2030 and 1,128,057 by 2040, which shows a high increase in the cases of cancer in the country. As a result, the demand for ultrasound devices in the country will rise for detection and diagnostics. Rising technical developments are anticipated to drive the market growth, supported by key companies' releases of innovative products. According to a news release, Japan's healthcare authority approved Lumify for suitable handheld devices in the country's healthcare sector in 2020 to make high-quality, portable ultrasonography available practically anywhere in the nation. However, the government and healthcare groups are taking a number of steps to expand the accessibility of medical equipment in the nation. The development of strong healthcare facilities in the nation and the expanding availability of portable ultrasonography for diagnosis and treatment hence fuel the market for ultrasound devices. Thus, the above-mentioned factors are boosting the segment growth in the forecast period.
