Market Trends of Japan Cardiovascular Devices Industry
This section covers the major market trends shaping the Japan Cardiovascular Devices Market according to our research experts:
Electrocardiogram (ECG) Expected to Hold Significant Market Share
An electrocardiogram is expected to hold a significant market growth share over the forecast period. An electrocardiogram (ECG) records the electrical signals from the heart. It is a standard and painless test used to detect heart problems and monitor the heart's health. Such diagnostic features are helpful in cardiovascular procedures and are expected to drive the growth of the studied segment.
Portable and compact electrocardiograms (ECGs) are witnessing greater adoption, especially in the home healthcare segment. Moreover, there has been an increase in the incidence of cardiovascular diseases (CVD), wherein long-term ECG monitoring is necessary. With the introduction of wireless ECG, doctors can monitor and diagnose patients remotely on time, further fueling the market growth.
The factors driving the growth of this segment include the rise in heart diseases, such as heart failure, ischemic heart disease, and cardiac arrhythmias, among others. According to the National Cerebral and Cardiovascular Center, Japan, in December 2021, heart disease was a significant contributor to deaths in Japan, accounting for 15% of deaths. In addition, according to the same source, within heart diseases, heart failure contributes to 41%, and ischemia contributes to 33% of deaths in Japan. Therefore, such a high prevalence of heart failure in Japan will lead to increased adoption of ECG for diagnosing heart failure and ischemia, driving this segment's growth.
The rising initiatives from the key market players, such as the launch of ECG services in Japan, will lead to increased adoption of ECG devices in this region, driving this segment's growth. For instance, in September 2021, Nitto Denko Corporation, Astellas Pharma Inc., and M. Heart Co., Ltd. entered a memorandum of understanding concerning an ECG testing service. With this, Nitto will develop and manufacture the EG Holter, a novel disposable Holter ECG device. Astellas exclusively sells it in Japan.
Thus the above-mentioned factors are expected to contribute to the growth of the studied segment over the forecast period.
Remote Cardiac Monitoring Expected to Hold Notable Market Share
Remote cardiac monitoring is a method by which information from a patient's implantable rhythm management device can be communicated directly to a physician's office. Remote patient monitoring lets providers manage acute and chronic conditions and helps avoid patient travel costs and infection risks.
The increasing geriatric population and the rising product launch approvals by various market players are expected to contribute to the growth of the studied segment. For instance, the Nippon article published in October 2022 mentioned that the number of seniors in Japan aged 65 years and older increased by 60,000 for a record total of 36.27 million. Such an increase in the geriatric population who are prone to cardiovascular diseases and require continuous monitoring of their heart condition is expected to contribute to the growth of the studied segment.
Additionally, the increasing product approvals are expected to contribute to the growth of the studied segment. For instance, in January 2022, MicroPort CRM received PMDA Japanese regulation for its Bluetooth-enabled Alizea pacemakers. Paired with the company's smart view connect home monitor, Alizea pacemakers can be remotely monitored.
Thus, the rising geriatric population and frequent product approvals are expected to contribute to the growth of the studied segment.
