Grow in Japan’s medical devices market

Japan’s medical device / MedTech market is the world’s third largest with an estimated market size around US$ 40 billion (2024) and growing around 6% per year. About 50% of medical devices are imported into Japan from foreign manufacturers including Johnson & Johnson, Medtronic, Siemens and GE.

Japan’s digital device and service market for healthcare is estimated to be around US$ 1.5 billion by 2025, approx. 75% for prevention, health management and rehabilitation and about 25% for diagnosis and treatment.

Medical device markets (estimations from a variety of sources):

• USA US$190 billion (2024), CAGR= 7% pa
• Europe US$179 billion (2024), CAGR= 5% pa
• China US$190 billion (2024), CAGR= 10-20% pa
• Japan US$40 billion (2024), CAGR= 6% pa

Major Japanese medical device manufacturers include:

1. Olympus Medical Systems (revenues approx US$ 5 billion)
2. Hitachi Healthcare (revenues approx US$ 5 billion)
3. Terumo (revenues approx US$ 4 billion)
4. Canon Medical Systems (acquired Toshiba Health Care in 2016) (revenues approx US$ 4 billion)
5. Fujifilm (revenues approx US$ 4 billion)
6. Nipro (revenues approx US$ 2 billion)
7. Hoya, Pentax Medical (revenues approx US$ 3 billion)
8. Sysmex (revenues approx US$ 2 billion)
9. Nihon Koden (revenues approx US$ 1.2 billion)
10. Teijin (revenues approx US$ 1.3 billion)
11. Fukuda (revenues approx US$ 0.9 billion)
12. Omron (revenues approx US$ 0.7 billion)
13. Konica Minolta (revenues approx US$ 0.6 billion)
14. Menicon (revenues approx US$ 0.5 billion)
15. Shimadzu (revenues approx US$ 0.5 billion)