Japan In Vitro Diagnostics (IVD) market is predicted to reach nearly US$ 4.5 Billion by 2028. Japan is one of the largest clinical laboratory markets in the Asia–Pacific region, and the fastest growing among the top ten IVD country markets. With an aging population, technological advances and advent of point of care diagnostics, Japanese IVD market is slated to show substantial growth in the future. Japan’s quickly aging population means the country is experiencing an explosion of chronic conditions such as diabetes, heart disease and cancer. All of these conditions can be diagnosed and monitored using IVD products. However, some of the factors limiting the growth of the market are a lack of proper reimbursement policies and stringent regulatory framework.
Impact of COVID-19 on Japan In-Vitro Diagnostics Market
The COVID–19 outbreak has become a global stress test, as the disease has infected around 475 Million people worldwide. In Japan, COVID–19 disease has infected over 6.15 Million people (as of March 23, 2022), and the death toll has reached 27,246. The number is still growing, and the duration of the pandemic is still difficult to predict. In the year 2020, the COVID-19 pandemic has restricted the growth of the Japan IVD market, as routine procedures were delayed by social restrictions and other precautionary measures taken in response to the COVID-19 pandemic. However, as governments began lifting social restrictions, the negative trend in the revenues of these businesses began to level off and stabilize prior to the third quarter of 2020.
The clouds of the new coronavirus threat loom over the world and continue to create havoc in the lives of millions of people. Maximum testing and quick hospitalization are key components for flattening the curve. In this scenario, the in-vitro diagnostics forms the crux of increased testing. Manufacturers in the in-vitro diagnostic market are focusing on developing novel technologies for maximum testing within a minimum period. For instance, in April 2021, Sysmex Corporation obtained in vitro diagnostic approval in Japan for the manufacturing and marketing of the DetectAmp SARS-CoV-2 RT-PCR Kit, a SARS coronavirus nucleic acid kit that detects the RNA of the novel coronavirus (SARS-CoV-2). The novel coronavirus has accelerated the research and development activities in the in-vitro diagnostics market. Therefore, quick approvals are proving to be the cherry on the cake for the growth of the in-vitro diagnostics market.
Segment Wise - Japan IVD Market and Forecast • On segment basis, Clinical Chemistry and Infectious disease are the leading segment of the Japan IVD market. • Immunoassay holds the 3rd spot in the Japan in vitro diagnostics market. • Tumor Marker and Hematology segments are competing closely with each other to grab maximum share of the pie. • SMBG market accounted for around 13 percent share of the Japan IVD market in 2021. • Pathology is one of the fastest growing segments of the Japan in vitro diagnostics market.
Japan IVD Market – Company Analysis • In Japan IVD market, Sysmex Corporation is the leader, followed by Roche Diagnostics. • Abbott Laboratories, Thermo Fisher Scientific Inc., and Danaher Corporation are the other top three players in the Japan IVD market. • In July 2021, Sysmex Corporation formed a global strategic alliance with QIAGEN N.V for the development of cancer companion diagnostics. • In October 2021, Bio-Rad Laboratories, Inc. launched their CFX Dx Real-Time PCR Detection systems- CFX Opus 96 Dx System and the CFX Opus 384 Dx System for In Vitro Diagnostics. • In May 2020, Becton Dickinson and Company completed the acquisition of NAT Diagnostics to expand its point-of-care testing for infectious disease portfolio.
The research report titled “Japan In-Vitro Diagnostics (IVD) Market, Impact of COVID-19, Size, Share, Major Deals, Company Analysis, Trends and Recent Developments – Forecast to 2028” provides a comprehensive assessment of the fast–evolving, high–growth Japan IVD Market.
This 246 Page report with 42 Figures and 4 Tables has been analyzed from 9 View Points: 1) Japan IVD Market and Forecast (2002 – 2028) 2) Impact of COVID-19 on Japan In-Vitro Diagnostics Market 3) Japan IVD Market Share and Forecast (2008 – 2028) 4) Japan IVD Market & Forecast – By Segment (2008 – 2028) 5) Japan IVD Market & Forecast – Company Sales Analysis (2014 – 2028) 6) Japan IVD Market – Major Deals 7) Japan IVD Market – Recent Developments 8) Registration for In Vitro Diagnostic Devices in Japan 9) Japan IVD Market - Drivers & Challenges
Japan IVD Sales & Forecast – By Company 1. Roche Diagnostics 2. Abbott Laboratories 3. Danaher Corporation 4. Biomerieux 5. Sysmex Corporation 6. Bio-Rad Laboratories, Inc 7. Becton Dickinson Company 8. Thermo Fisher Scientific Inc. 9. Others
The analyst employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis dedicated team of qualified professionals with deep industry experience and expertise.
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non–printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.
250 pages •
By The Business Research Company
• May 2022
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In Vitro Diagnostics
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