Japan Market Overview
Japan’s MedTech market is an enormous opportunity
Japan is the world’s
second largest single country MedTech market with roughly 7% of worldwide revenues, accounting for a higher proportion of global profit.
Structure of the Japanese Medical Device Market
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The total medical device market in Japan (not including IVD) is 3 trillion JPY (28B USD)
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Imports account for more than half the market
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Therapeutic (treatment) devices are the most attractive opportunity
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Largest segment at 58% of total
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High growth rate (6% per year)
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High import ratio (70%)
Examples of Treatment Devices
Pacemaker
Catheter
Artificial Joint
Characteristics of the Market
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Single payer system, universal access, high utilization
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7,353 general hospitals, compared to 5,530 in the US
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Over 28% of Japan’s population is over 65, accelerating need for medical innovation
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Regulatory approval speed has improved dramatically over the last decade
Japan Market Entry Options
Healthcare System: Overview
Healthcare System: Medical fee - Patient burden
Meetings with MHLW
Companies need to go through a series of meetings with MHLW
in order to gain reimbursement approval in Japan
Reimbursement Pathway for New Medical Devices
