Japan's strategic medtech alignment with India

Given Japan's ageing population and the increasing number of patients with chronic and lifestyle diseases, Japan's market for medical devices continues to be among the world's largest.

- Vrushti Kothari

According to reports, Japan is the fourth-largest producer of medical technology (medtech) in terms of revenue, following behind the United States, China, and Germany. However, there is a limit to the growth of sales of medical device companies within the Japanese market only, thereby necessitating an extension of sales through global expansion, with India emerging as a key market. Let's explore the growing cross-collaboration and investment by the Japanese medtech companies within the Indian market, to strengthen their leadership position.

Japan has one of the highest life expectancies in the world, with over 28 per cent of its population being 65 years or older. And this demographic shift is driving a greater demand for medical devices, as older individuals typically require more healthcare services, including monitoring and treatment equipment. According to the Japan Ministry of Internal Affairs, the number of people aged 65 and older is projected to reach about 36 million by 2040, significantly increasing the demand for an array of medical devices.

Based on this current scenario, market analysts estimate that the medical devices market in Japan, encompassing a diverse range of products including medical equipment for chronic conditions management in healthcare systems and home care settings, drug delivery devices, diagnostic devices, invasive devices, and electronic medical devices, is expected to grow from $21.44 billion in 2024 to $45.2 billion by 2035.