Japan Cardiac Surgery Instruments Market Report 2022 to 2030

Japan Cardiac Surgery Instruments Market Analysis

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The Japan Cardiac Surgery Instruments Market is expected to witness growth from $129 Mn in 2022 to $223 Mn in 2030 with a CAGR of 7.10% for the forecasted year 2022-2030. Japan's population is ageing at one of the fastest rates in the world, which is anticipated to increase demand for instruments used in cardiac surgery since older people are more likely to develop cardiac diseases. The market is segmented by type, application and by end user. Some key players in this market include Terumo Corporation, Fukuda, LivaNova, B. Braun, Medline Industries, KLS Martin, and STILLE.

ID: IN10JPMD004 CATEGORY: Medical Devices GEOGRAPHY: Japan AUTHOR: Jigyasu Bhandari

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Japan Cardiac Surgery Instruments Healthcare Market Executive Analysis

The Japan Cardiac Surgery Instruments Market size is at around $129 Mn in 2022 and is projected to reach $223 Mn in 2030, exhibiting a CAGR of 7.10% during the forecast period. The amount spent on healthcare per person in Japan has grown considerably from $4,256 in 2018, when it reflected 10.75% of GDP, to $4,360 in 2019, when it would reflect 10.74% of GDP. Because of its high healthcare spending, the nation has a sophisticated and highly advanced healthcare infrastructure.

For 16.8% of all deaths in Japan, ischemic heart disease—which encompasses coronary artery disease—was the main factor. In general, coronary artery disease tends to occur and be more prevalent as people age. It's estimated that 1.3% of people in Japan experience cardiac failure. Heart failure's frequency and incidence typically both increased with age. According to estimates, 1.6% of people in Japan have atrial fibrillation. Arrhythmia incidence and prevalence can vary depending on the specific form of arrhythmia. The most prevalent cause of death in Japan is coronary artery disease, which is treated surgically through a process known as coronary artery bypass grafting. By using cardiac surgery tools like coronary artery bypass grafts, stents, and surgical implements to construct new blood vessels that bypass the blocked arteries, heart blood flow is restored. One of the major advantages of cardiac surgery tools is their accuracy and precision. These tools are designed specifically to give surgeons a high degree of control and manoeuvrability, allowing them to complete challenging procedures with little harm to the tissue nearby.

Japan Cardiac Surgery Instruments Market Analysis

Market Dynamics

Market Growth Drivers

Japan's population is ageing at one of the fastest rates in the world, which is anticipated to increase demand for instruments used in cardiac surgery since older people are more likely to develop cardiac diseases. Especially for cardiac procedures, Japan is growing in popularity as a medical tourism destination. This pattern is predicted to persist, which may increase demand for cardiac surgery tools from both domestic and foreign clients. Instruments for cardiac surgery are continuously being improved by manufacturers to be more effective and efficient. The demand for these tools may increase as a result of these innovations' potential to lower the risk of surgical complications and enhance patient outcomes. To improve the standard of treatment and lessen the burden on patients, the Japanese government has recently increased healthcare spending. The demand for cardiac surgery instruments and other medical devices may be boosted by this rise in spending.

Market Restraints

The Japanese market for cardiac surgery instruments is highly fragmented, with both domestic and foreign manufacturers vying for market dominance. Manufacturers might find it challenging to stand out from competitors and keep a healthy profit margin. Affordable healthcare services and goods are in high demand in Japan, where healthcare professionals are frequently cost-conscious. As a consequence, maintaining high-profit margins for manufacturers of instruments for cardiac surgery may be difficult.

Competitive Landscape

Key Players

Terumo Corporation (JP)
Fukuda (JP)
LivaNova
B. Braun
KLS Martin
Medline Industries
STILLE

Healthcare Policies and Regulatory Landscape

The stringent regulatory climate for medical equipment, including instruments used in cardiac surgery, is part of Japan's advanced healthcare system. The regulatory agency in charge of overseeing medical devices in Japan is the Pharmaceuticals and Medical Devices Organization (PMDA), which answers to the Ministry of Health, Labour, and Welfare (MHLW). Prior to being marketed and sold in Japan, every medical gadget requires PMDA approval. The device's production processes, safety records, and efficacy data are all thoroughly examined as part of the approval process. Following approval, a device is subject to ongoing regulatory requirements, such as post-market surveillance and the reporting of unfavourable outcomes.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Cardiac Surgery Instruments Market Segmentation

By Type (Revenue, USD Billion):

The market is divided into segments in this study based on the goods, applications, end users, and geographical areas. The market is divided into forceps, scissors, needle holders, clamps, and other cardiac surgery instruments based on the product. In 2017 the forceps category led the market, and it is anticipated that it will increase at the fastest rate going forward. The rise in heart surgeries and the frequent usage of forceps in most cardiac procedures are credited with the segment's strong growth.

Forceps
Vascular Forceps
Grasping Forceps
Other Forceps
Needle Holders
Scissors
Clamps
Other Cardiac Surgical Instruments

By Application (Revenue, USD Billion):

The market is further segmented by application into paediatric cardiac surgery, heart valve surgery, coronary artery bypass graft (CABG), and other applications. The Japan market's largest and fastest-growing application segment is CABG. This is mostly explained by the increased prevalence of heart illnesses and the consequent rise in surgical treatments. The second-largest category is heart valve surgery.

Coronary Artery Bypass Graft (CABG)
Heart Valve Surgery
Pediatric Cardiac Surgery
Other Applications

By End User (Revenue, USD Billion):

Based on the end user, the market is segmented into hospitals and cardiac centers, and ambulatory surgery centers. The hospitals and cardiac centers segment is expected to dominate the market for cardiac surgery instruments. Growth in this end-user segment can be attributed to the increasing incidence of cardiac and heart valve diseases and the subsequent increase in the number of cardiac surgery procedures.

Hospitals and Cardiac Centers
Ambulatory Surgery Centers

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.