Japan is the second largest market for medical devices after the U.S. and continues to offer business opportunities for UK companies involved in the development of innovative MedTech and medical therapeutic devices. The UK ranks among the 8 largest exporters of medical devices to Japan.
Japan’s medical devices market size was £19.8 billion in 2014 and relies heavily on imports, especially for therapeutic devices which make nearly 50% of the domestic sales volume.[memb_has_membership memberships=REGISTERED-MEMBER]
The country’s healthcare system is one of the most advanced thanks to the presence of a sophisticated infrastructure and is witnessing an increase in healthcare system efficiencies, improvements in services, and a growing preference for home care systems which drives demand for medical devices.
Entering the Japanese market has never been easier since the revision of the pharmaceutical and medical devices act in 2014, which now allows faster and easier access. Japan’s approval process is now roughly equivalent to the U.S.
To understand more about the developments in the medical devices market and the device categories most in demand, watch this webinar recording featuring Mr. Taiki Ishikura – Director & Chief Business Officer of Japan Organisation for Medical Device Development Inc (JOMDD).