Japan IVD Market

According to the Renub Research latest report titled "Japan In-Vitro Diagnostics (IVD) Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" Japan In Vitro Diagnostics (IVD) Market, Size will grow US$ 3.24 Billion by 2028 compared to USD 2.63 Billion in 2022 growing with a CAGR of 3.54%. In Japan, in-vitro diagnostics has seen several changes and additions to its gamut of offerings in the recent past. There has been a paradigm change from conventional diagnostics to a new generation of diagnostics that work on the gene level. This was possible because of the inclusion of advanced technology like diagnostics, molecular Polymerase Chain Reaction (PCR), genetic testing, and Next-Generation Sequencing (NGS). Fast turnaround, reliability, user-friendliness, and predictability of predisposed diseases are a few essential qualities that enabled these technologies to attain their share in significant diagnosis offerings providers globally and especially in Japan. Rising demand from the educated public for more information about their predisposition for severe diseases and how these potential illnesses can be detected early demands the market for Japan IVD.

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Factors driving the Japan IVD Market:

Across Japan, a quarter of its population is age 65 years & above  The main problem the Japanese government meets in recent years is growing in the number of an aging population, as the cases of aging diseases are multiplying. Per Japanese government has prioritized dealing with the aging population and the government is anticipated to devote and expanded health budget for aging population by 2025. This will enable the future of the Japanese IVD industry by growing prevalence and improving public expenditure.

Moreover, enhanced diagnostic technology, people's awareness, and the subsequent growth in the prevalence of chronic and infectious diseases, an increase in the number of private hospitals, and independent testing laboratories are also contributing to Japan IVD industry development. Japan's clinical laboratory industry represent one of the biggest and fastest-growing markets among the top ten IVD nation markets in the Asia Pacific region.

Impact of COVID-19 on Japan In-Vitro Diagnostics Market:

COVID-19 outbreak had a slightly unfavorable impact on the IVD market. This was due to Japan lockdowns that affected the clinical chemistry segment as these in-vitro diagnostics are used to check essential body functions that are not urgently required. Furthermore, the IVD market also experienced a considerable positive impact due to the surge in the launch of in vitro diagnostics for COVID-19.

In this scenario, IVD forms the crux of increased testing—manufacturers in the in-vitro diagnostic market emphasis on developing novel IVD technologies for maximum testing within a minimum time. For instance in 2021, Sysmex Corporation obtained in vitro diagnostic approval in Japan to manufacture and market the DetectAmp SARS-CoV-2 RT-PCR Kit. This SARS coronavirus nucleic acid kit detects the RNA of the novel coronavirus (SARS-CoV-2).

Clinical Chemistry account for the largest share in the Japan IVD market:

Based on segments, Japan IVD market includes Clinical Chemistry, Hematology, Self Monitoring of Blood Glucose (SMBG), Immunology, Tumor Marker, Urine & Feces, Infectious disease, Microbiology, Pathology, and Genetic Testing. Clinical chemistry is the practical segments of biochemistry and is utilized to analyze body fluids for therapeutic and diagnostic purposes. Plasma, serum, and urine are the most generally tested samples in pathology. The increasing usage of approved blood-gas analyzers to observe respiratory conditions is foreseen to fuel the market's growth for in vitro diagnostic.

Additionally, the immunodiagnostics segment is further divided into enzyme-linked radioimmunoassay (RIA), immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), and western blot. Furthermore, the ELISA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Likewise, the molecular diagnostics segment is divided into isothermal nucleic acid amplification technology (INAAT),polymerize chain reaction (PCR), hybridization, DNA diagnostics, microarray, etc.

Key Companies & Market Share Insights:

The Japan IVD market is price-sensitive, and thus, players enter into intensive competition in manufacturing cost-effective and efficient products. Companies are engaging in partnerships, acquisitions, and mergers to strengthen their manufacturing capacities, product portfolio and provide competitive differentiation. Furthermore, companies focus on gaining market approvals for innovative products to diagnose different infectious diseases. Key players include Abbott Laboratories, Danaher Corporation, Biomerieux, Roche Diagnostics, Becton, Sysmex Corporation, Bio–Rad Laboratories, Inc, and Thermofisher Scientific Inc), Reimbursements, Porter's Model.

Market Summary:

Segment – Renub Research Report covered Japan In Vitro Diagnostics (IVD) Market by segments in the 11 viewpoints (Tumor Marker, Urine & Feces, Clinical Chemistry, Hematology, Self Monitoring of Blood Glucose (SMBG), Immunology, Infectious disease, Microbiology, Pathology and Genetic Testing and Others)

All the major players have been covered from 3 Viewpoints (Overview, Recent Development, and Revenue Analysis) Abbott Laboratories, Danaher Corporation, Biomerieux, Roche Diagnostics, Becton, Sysmex Corporation, Bio–Rad Laboratories, Inc, and Thermofisher Scientific Inc), Reimbursements, Porter's Model.

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