Japan Medical Display Market Assessment, By Device, By Panel Size, By Resolution, By Display Color, By Technology, By Application, By End-user, By Region, Opportunities and Forecast, FY2018-FY2032F

Japan medical display market is projected to witness a CAGR of 5.12% during the forecast period FY2024-FY2032, growing from USD 181.15 million in FY2024 to USD 270.10 million in FY2032. The market's growth is bolstered by the rapid expansion of the geriatric population, rising requirements for surgical procedures, and increasing investments towards upgrading the healthcare sector.

The growth of the older population in Japan is one of the major factors driving the demand for medical displays in Japan. As per the estimates of the World Economic Forum, over one in ten people in Japan are 80 or older. This growth is augmenting the population's reliance on the healthcare sector to ensure and maintain their health and well-being. Medical displays have a wide range of applications in various diagnostic and surgical procedures. They are essential for interpreting diagnostic images, including ultrasounds, MRIs, CT scans, and X-rays, among others, aiding medical professionals in making accurate diagnoses.

Additionally, strategic collaborations between leading healthcare institutions and medical technology providers are also expected to bolster the market's expansion as such partnerships focus on addressing the specific healthcare requirements of the country, increasing access to advanced display technologies, and supporting technological innovations. Collaborations between these organizations also ensure the integration of cutting-edge technologies, including augmented reality, artificial intelligence, and machine learning in medical displays, enhancing user convenience and allowing healthcare professionals to better diagnose patients. Additionally, medical displays also allow healthcare professionals to easily study the collected data and analyze the results, ensuring that they can adopt personalized approaches for treating patients.

Increasing Investments Towards the Healthcare Sector Supports Market Expansion

The rising investments and focus on ensuring the availability of cutting-edge technologies across the country are one of the major drivers of the Japanese medical display market. The country is taking various measures to improve its diagnostic efficiency, allowing healthcare professionals to diagnose the patient population easily.

Additionally, various hospitals and treatment centers are also being opened in the country that are equipped with advanced equipment, including medical displays, to cater to the various requirements of the patients. For instance, in October 2023, the Fujita Medical Innovation Center Tokyo was inaugurated in Tokyo, Japan. The center offers the latest treatment solutions to its patient population, who are also attended to by a team of 80 professionals comprising technologists, administrative staff, nurses, and doctors. Furthermore, the hospital also holds the latest technologies in its examination and rehabilitation centers. Such efforts towards ensuring the availability of advanced technologies and equipment to enhance patient experience are expected to provide lucrative growth opportunities to the market.

Rising Requirement for Diagnostic Imaging Boosts Market's Demand

The rising cases of chronic diseases and lifestyle-related disorders, in combination with the growth of the geriatric population, are proposing the requirement for diagnostic imaging systems in the country. According to an article published in the Journal of Cardiology in March 2024, approximately 310,000 people die from cardiovascular diseases in Japan every year.

The rising incidences of conditions, including cancer and cardiovascular disorders, among other chronic diseases, are increasing the reliance on medical displays for effectively diagnosing the patient population and aiding them in effectively managing the condition. Medical displays allow healthcare professionals to closely monitor the patients' vitals and provide them with real-time data, which is essential for ensuring the effective management of various lifestyle-related and chronic diseases and disorders. Thus, bolstering the product requirement and positively influencing the expansion of the market.

Increasing Emphasis on Digitalization Boosts Market Expansion

The government of Japan is increasingly working on enhancing the healthcare sector and improving the quality of services provided to the patient population by improving the accessibility, sustainability, and delivery of healthcare services. Over the past few years, the country has taken various measures to tackle various challenges associated with the healthcare industry. For instance, in May 2023, the Liberal Democratic Party released a policy titled "Towards the Realization of the Medical DX Reiwa Vision 2030: a Country Where All Citizens Can Receive Optimal Healthcare through the Digital Use of Health and Medical Information" that included standardization of electronic medical records, reinforcement of governance, and establishment of a medical information platform at the national level. Such efforts are expected to bolster the requirement for various advanced equipment, including medical displays, to ensure healthcare professionals are able to access medical data with ease, thus supporting the expansion of the Japanese medical display market.

Surgical Segment Expected to Witness Significant Growth

The growing burden of various chronic and infectious diseases is expected to propel the requirement for different surgical procedures, augmenting the demand for medical displays. Medical displays are essential during surgical procedures as they enhance visualization, provide real-time imaging, improve precision, and ensure patient safety. According to an article published in the American Association for Cancer Research, the prevalence of cancer in Japan is estimated to reach 3,665,900 by 2050. This increase is expected to propel the requirement for surgical procedures as for various types of cancer, surgeries are usually the primary treatment option and often involve the removal of the tumors and the surrounding tissues to ensure the complete elimination of cancer cells. Additionally, surgeries are also required in cases of cancer to remove tissues or organs that are at a high risk of developing cancer, thus ensuring the disease proliferation. Moreover, surgical procedures and biopsies are also often required to confirm the cancer diagnosis. These factors combined are boosting the requirement for medical displays for surgical applications and supporting the segment's growth.

Future Market Scenario (FY2025-FY2032F)

According to the Japan medical display market analysis, the market is expected to observe significant growth over the forecast period due to the rising burden of chronic diseases in the country and the expansion of the geriatric population.

The key players in the market are increasingly focusing on strategic partnerships and product innovations as well as expanding their distribution networks to capitalize on the available opportunities and enhance their market presence.

Due to the increasing prioritization of efficiency and accuracy by the country's healthcare sector, the requirement for medical displays with high resolution is further expected to rise, supporting the expansion of the Japan medical display market.

Additionally, increasing investments in research and development activities and growing efforts to ensure the upgradation of diagnostic equipment and technologies are also expected to bolster the market's demand.

Key Players Landscape and Outlook

Leading startups in Japan are actively working to introduce novel products and technologies to enhance physician convenience and treatment outcomes. For instance, in May 2024, Novius Services announced the launch of N-vision 3D, their innovative artificial intelligence (AI) driven technology capable of converting images from two dimensions to three dimensions in real-time for elevating the way surgical procedures are performed. The Novius-designed 3D monitor visualizes 3D images without requiring the viewer to use any equipment or glasses. Such efforts of Japanese startups are positively influencing the market's expansion by facilitating advanced diagnosis and increasing the understanding of lesions that often require stereoscopic interpretation, resulting in improved surgical efficiency.