Japan Medical Imaging Market Size Insights Forecasts to 2033

• The Japan Medical Imaging Market Size was valued at USD 1.5 Billion in 2023.
• The Market Size is Growing at a CAGR of 5.65% from 2023 to 2033
• The Japan Medical Imaging Market Size is Expected to reach USD 2.6 Billion by 2033

The Japan Medical Imaging Market Size is anticipated to exceed USD 2.6 Billion by 2033, growing at a CAGR of 5.65% from 2023 to 2033. The growing incidences of lifestyle-related disorders, the need for early detection tools, technological advancements, and government investments are driving the growth of the medical imaging market in the Japan.     

Market Overview

Medical imaging describes the application of several imaging modalities to obtain visual depictions of a body's interior for medicinal and diagnostic reasons. This covers a range of modalities that are used to take pictures of the human body in order to diagnose and cure illnesses, both of which are essential for enhancing general health. Numerous medical fields, such as neurology, orthopedics and musculoskeletal care, obstetrics and gynecology, and cardiology and thoracic medicine, use medical imaging extensively. The market is anticipated to grow as AI is used more frequently to automate picture recognition and quantification operations. Multidisciplinary Digital Publishing Institute (MDPI) said in June 2021 that Japan expects changes to the regulations governing medical AI software and the possibility of expediting the authorization process for AI diagnostic imaging equipment.

Report Coverage

This research report categorizes the market for the Japan medical imaging market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan medical imaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan medical imaging market.

Driving Factors

The increasing concentration on creating cutting-edge and novel cardiovascular ultrasonography items is influencing the market's expansion. According to a Japanese study published in August 2022 in BMC Musculoskeletal Disorders, the overall prevalence of persistent musculoskeletal pain was more than 35.0%. 'Super-aging’ culture in the country is occurring in both rural and urban areas, according to the Statistics Bureau of Japan. The high prevalence of chronic illnesses and the aging population drive the use of ultrasound equipment for diagnostic imaging which results in driving the market growth. The growing demand for advanced imaging techniques from educational colleges and hospitals to offer training in the newest technologies is expected to propel the market. Further, the government's emphasis on advancing medical technology and healthcare has fostered an environment that is conducive to growth.

Restraining Factors

A decline in the economy that has impeded the use of contemporary imaging technologies, a drop in the number of radiologists and hospital employees, and an increase in the usage of telecommunications services are all factors restraining the market growth.

Market Segmentation

The Japan Medical Imaging Market share is classified into technology and end-use.

• The ultrasound segment dominated the market with the largest market share in 2023.

The Japan medical imaging market is segmented by technology into x-ray, ultrasound, computed tomography, magnetic resonance imaging, and nuclear imaging. Among these, the ultrasound segment dominated the market with the largest market share in 2023. Recent developments in very sophisticated ultrasound transducers have opened up new possibilities for ultrasound devices in cardiology and medical imaging. The rising utilization of ultrasound and the integration of AI for automation of imaging quantification are driving the market growth.

• The hospitals segment accounted for the largest revenue share of the Japan medical imaging market in 2023.       

Based on the end-use, the Japan medical imaging market is divided into hospitals, diagnostic imaging centers, and others. Among these, the hospitals segment accounted for the largest revenue share of the Japan medical imaging market in 2023. Due to the entry of foreign providers of healthcare services, there is a considerable increase in the number of new hospitals for emerging regions for imaging modalities. The growing demand and integration of advanced imaging technologies as well as superior healthcare services in hospitals are propelling the market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan medical imaging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips N.V.
• Samsung Medison Co., Ltd.
• Koning Corporation
• Canon Medical Systems Corporation
• Hologic, Inc.
• FUJIFILM VisualSonics Inc.
• Cubresa Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2023, The executive leadership teams from Canon Inc. and Cleveland Clinic gathered on day two of the Radiological Society of North America Scientific Assembly and Annual Meeting, RSNA 2023, to announce their intentions to form a strategic research partnership to develop innovative imaging and healthcare IT technologies aimed at improving diagnosis, care, and outcomes for patients

• In November 2023, RapidAI, a health tech company specializing in imaging analysis software, announced it received Class III Shonin clearance in Japan and launched a hybrid technology platform, Rapid Edge Cloud, and a non-contrast CT offering for stroke identification.

• In July 2023, FUJIFILM Corporation (President and CEO, Representative Director: Teiichi Goto) announced that it would reorganize its Medical Systems group companies in Japan to strengthen its Medical Systems business structure.

• In July 2023, Canon Medical Systems Corp. declared that it had acquired the Resonac Corporation. The agreement is aimed at acquiring Minaris Medical America, Inc., Resonac subsidiaries of Minaric Medical Co., Ltd.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Medical Imaging Market based on the below-mentioned segments:

Japan Medical Imaging Market, By Technology

• X-Ray
• Ultrasound
• Computed Tomography
• Magnetic Resonance Imaging
• Nuclear Imaging

Japan Medical Imaging Market, By End-Use

• Hospitals
• Diagnostic Imaging Centers
• Others