Market Trends of Japan Computed Tomography Industry
The Diagnostic Centers Segment is Expected to Witness Significant Growth in End Users
The rising prevalence of dental and cardiovascular conditions, cancers, and strategic measures undertaken by many centers are contributing to the growth of the computed tomography market in Japan. The country's considerable healthcare investment is likely to drive market growth.
Furthermore, Fujifilm announced in April 2021 that it had invested USD 11 billion in its healthcare division. In addition, in March 2021, the company acquired Hitachi's diagnostic imaging business. As a result of such strategic developments, diagnostic imaging services in Japan are poised to grow. These advancements will increase the use of diagnostic imaging devices such as CT, X-rays, and ultrasound, among others. This is expected to increase demand for CT imaging services at hospitals and diagnostic centers, propelling segment growth.
The increasing awareness of health concerns from chronic disease burden has significantly increased the demand for diagnostic imaging tests in Japan. Additionally, various companies and government agencies are taking initiatives to spread wellness awareness and minimize the prevalence of chronic diseases, such as Cancer in Japan. For instance, in September 2022, Kao Group launched a Pink Ribbon Campaign to raise awareness for early detection of breast cancer. Additionally, in September 2022, on World Alzheimer's Day, Eisai Co., Ltd.'s headquarters in Japan announced the release of two dementia awareness videos. This video will create awareness of neurological diseases and screening of diseases, thereby boosting the segment growth.
Therefore, due to various factors, the diagnostic centers segment is expected to grow over the forecast period of the study.
Oncology Segment is Expected to Grow with Healthy CAGR over the Forecast Period
Oncology is defined as the diagnosis and treatment of tumors and cancers. Oncology is one of the leading causes of morbidity and mortality. Therefore, the need for imaging in the diagnosis of cancer is high within the region, as it is used to detect tumors and other abnormalities, determine the extent of the disease, and evaluate the effectiveness of treatment. The incidence of cancer cases within the region is elevating the growth of the oncology segment.
According to the 2022 statistics published by Ganjoho, about 378,600 new cancer cases (218,900 cases in males and 159,700 cases in females) were reported in Japan in 2021. In addition, as per the same source, lung cancer was the leading site (24% for males), followed by rectum/colon cancer (13%), stomach cancer (12%), pancreas (8%), and liver cancer (7%). Thus, the high burden of cancer among the population raises the need for early diagnosis, which in turn is anticipated to fuel the demand for imaging devices such as CT scans, MRIs, and others, hence propelling the segment's growth.
Moreover, product launches and technological advancements by major players are also fueling market growth. For instance, in November 2021, NeuroLogica's BodyTom Elite, the company's mobile, full-body, 32-slice CT (computed tomography) scanner, will be available for purchase in Japan. BodyTom Elite offers additional flexibility by allowing point-of-care CT imaging and reducing the risks associated with moving critically ill patients to radiology.
Thus, all the aforementioned factors are expected to boost segment growth over the forecast period.
