The Japan Cardiovascular Devices Market is expected to register a CAGR of 2.6% during the forecast period. The major factors driving the growth of the market in Japan is increasing the burden of cardiovascular diseases and increased adoption of minimally invasive procedures.

Japan has the world’s fastest aging population. According to the World Ageing 2019 report, estimates the number of population who are above 65 years of age in Japan was 35.524 million (28%) in 2019 which is projected to reach 37.278 million (30.9%) in 2030. As the number of geriatric population is expected to increase in the coming years who are more prone to chronic diseases such as cardiovascular diseases which ultimately rises the growth of the market in the near future.

Thus, owing to the rising geriatric population along with a high prevalence of heart diseases is expected to show significant growth over the forecast period.

Key Market Trends

Electrocardiogram (ECG) is Expected to Dominate the Diagnostic And Monitoring Segment Over the Forecast Period

An electrocardiogram (ECG) records the electrical signals from the heart. It is a common and painless test used to detect heart problems and monitor the heart’s health.

Currently, there are portable and compact electrocardiogram (ECG) is driving its 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 and with the introduction of wireless ECG, doctors can monitor and diagnose the patient remotely on time, which further fuels the market growth.

As per the Foundation for Promotion of Cancer Research 2018 report, in 2017, the total number of deaths caused by heart diseases in Japan was about 204.84 thousand cases up from 198.01 thousand cases in 2016 and 196.11 thousand cases in 2015. Thus, owing to the above-mentioned factors along with increasing healthcare expenditure, the segment is expected to show a significant growth rate in the coming years.

Competitive Landscape

The Japan cardiovascular devices market is consolidated competitive. The major players have established themselves in specific segments of the market. Some of the players who are currently dominating the market are Abbott Laboratories, Boston Scientific Corporation, Edwards Lifesciences, Medtronic PLC, Cardinal Health Inc., Biotronik, Siemens Healthineers AG, W. L. Gore & Associates, Inc, and Canon Medical Systems Corporation.

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