Japan in Vitro Diagnostics Market
Dublin, May 04, 2022 (GLOBE NEWSWIRE) -- The "Japan In-Vitro Diagnostics (IVD) Market, Size, Share, Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Japan In-Vitro Diagnostics (IVD) Market is expected to reach US$ 3.6 Billion by 2027 from $3.2 billion in 2021, growing with a CAGR of 1.9% during 2021-2027.
In Japan, (IVD) In Vitro Diagnostics comes under medical devices, which are disposable or consumable and used to collect multiple bio-samples under different medical conditions such as cancer, cardiac disorders, infectious diseases, and nephrological disorders.
Moreover, IVD instruments analyze tissue samples and body fluids collected from patients. Nowadays, several developments have happened in Japan in the field of In-vitro diagnostics, from traditional diagnostics to new generation gene diagnostic.
This has become achievable with the advent of new technologies, such as chain reaction (PCR), next-generation sequencing (NGS), genetic testing, and molecular diagnostic.
Factors driving the IVD Market in Japan
Growing geriatric population, technological advances, and the advent of point of care diagnostics, the Japanese IVD industry is slated to show substantial growth in the future.
For instance, in 2021, as per the Japan internal affairs ministry, the number of people aged 65 or older in Japan stood at a record high of 36.4 million, a rises of 220,000 from a year before. Thus, Japan's quickly aging population means experiencing an explosion of chronic conditions such as heart disease and cancer. All of these situations can be monitored and diagnosed using IVD products.
Japanese In-Vitro Diagnostics Market Size was US$ 3.2 Billion in 2021
Japan In-Vitro Diagnostics Market includes Self-Blood Glucose Monitoring, Tumor Marker, Immunology, Infectious Testing, Urine & Faces Diagnostics, Hematology, Clinical Chemistry, Microbiology, Pathology, Genetic Testing, and Others. The population of Japan is aging rapidly.
The health life expectancy has directed a dramatic increase in recent years. This trend is to shift the focus of the medical device industry from treatment to prevention. The IVD segments are to play an essential role in this shift. IVD segments, such as clinical chemistry, hematology, and immunology, are to find increased applications, with people starting to prefer prevention over treatment.
COVID-19 Impact on Japan IVD Industry:
In 2020, the Japan IVD market witnessed a mixed growth. It owed to the impact of covid-19 on IVD various segments. The COVID-19 pandemic has upsurge the demand for molecular diagnostics techniques as it is utilized to diagnose the SARS-CoV-2 virus.