Report Overview

Japan HealthTech Market - Industry Trends & Forecast Report, 2030

Japan HealthTech Market size was estimated to be worth USD 346.48 million in 2023. During the forecast period between 2024 and 2030, the Japan HealthTech Market size is projected to grow at a CAGR of 6.16%, reaching a value of USD 695.12 million by 2030. Major growth factors for the Japan HealthTech Market include the increasing rate of the aging population in the country and rising launches of healthcare technologies, such as wearable devices and mHealth apps. In addition, a significant labor shortage in the medical and nursing care sectors is anticipated to drive Japan Healthtech Market over the forecast period.

HealthTech – Overview

Healthtech refers to the use of technology in healthcare products and services. Healthcare technology software enterprises create and execute technology-driven goods and solutions that raise standards of care, boost patient outcomes, and lower medical expenses. The growing need for healthcare services and the rising cost of providing those services are driving the healthtech industry. It makes health more accessible and easier by enabling people to communicate with doctors online, monitor their fitness regimens, and even receive timely medication reminders.

Japan HealthTech Market

Growth Drivers

Growing Elderly Population and Shortage of Medical and Nursing Staff

Japan is struggling with an increasingly aging population owing to low fertility and birth rates in the country. More than one in 10 people in Japan are now aged 80 or older, as reported by BBC. According to national data, a record 29.1% of the 125 million people living in the country are 65 years of age or older. Healthtech proves to be convenient to older people or bedridden patients with chronic illnesses as it provides remote accessibility to healthcare services. In addition, the increasing aging population in Japan is also resulting in a significant decrease in the workforce in the healthcare sector, which will further boost the demand for healthtech in the country over the forecast period.

Challenges

Privacy Concerns and Data Breaches

Privacy concerns surrounding the use of healthtech software and services may act as a huge restraining factor for the growth of the Japan Healthtech Market. Vital patient or consumer data, including financial and medical records, is gathered and shared as part of healthtech. These gadgets gather a lot of personal data as they track and monitor health-related data, such as heart rate, activity levels, and sleep habits. This data may be compromised during health information exchanges between healthcare providers and may limit the use of healthtech in Japan.

Impact of Escalating Geopolitical Tensions on the Japan HealthTech Market

The escalating geopolitical tensions may disrupt the Japan Healthtech Market. Japan and Israel have close ties in the healthtech sector owing to the technological assets offered by the latter. However, divestment campaigns against Israel are being launched. It might impede potential collaboration between the two nations. Lack of workforce and funding is another factor impeding Israel's technology sector operations, which might have a direct impact on the Japan Healthtech Market and restrict its expansion.

Japan HealthTech Market

Segmental Coverage

Japan HealthTech Market – By Technology

Based on technology, Japan HealthTech Market is segmented into digital health systems, health analytics, health information technology, mHealth, and telehealthcare. The telehealthcare segment holds the largest share in Japan Healthtech Market. The increasingly aging population acts as a major driving factor for the rising demand for telehealthcare in Japan. Telehealthcare eliminates the need to commute while simultaneously offering accessibility to easier follow-up and special medical options. However, the mHealth segment is anticipated to register high growth rate over the forecast period owing to its higher efficiency and lower cost compared to telehealthcare.

Japan HealthTech Market – By Component

Based on component, Japan HealthTech Market is segmented into hardware, software, and services. The software segment accounts for the highest market share. Healthtech software offers simplicity of use, flexibility, affordability, and innovation, making upgrades simple and contributing to reduced expenses and better healthcare delivery. These software improve patient engagement with improved accessibility to their health information as well as collaboration between healthcare providers. It also leverages advanced technologies, such as big data analytics, which can enable personalized medicine.

Japan HealthTech Market – By End User

Based on end user, Japan HealthTech Market is segmented into healthcare providers, healthcare payers, healthcare consumers, pharmaceutical companies, and others. The healthcare consumers segment dominates Japan Healthtech Market. The growth of the segment is mainly attributed to the increasing launches of healthtech devices and the rising availability and accessibility of patient-care services. Healthtech offers many conveniences to patients in terms of healthcare accessibility, such as remote monitoring and access to health information. Patients can track and share their vitality with their healthcare professionals remotely, which acts as a major driving force for market growth.

Competitive Landscape

Major players operating in Japan HealthTech Market include Allm Inc., M3, Inc., Omron, Whill, FiNC, CureApp, AI Medical Service, Awarefy, and iCARE. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Technology

• Digital Health Systems

• Health Analytics

• Health Information Technology

• mHealth

• Telehealthcare

By Component

• Hardware

• Software

• Services

By Application

• Cardiology

• Diabetes

• Neurology

• Sleep Apnea

• Oncology

• Others

By End User

• Healthcare Providers

• Healthcare Payers

• Healthcare Consumers

• Pharmaceutical Companies

• Others

1. Research framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Japan HealthTech Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Japan's Rapidly Aging Population
         2. Increased Demand for Medical and Nursing Care in Urban Areas
         3. Labor Shortage in the Medical and Nursing Care Sectors
         4. COVID-19 Pandemic has Accelerated the Need for Digital Health Solutions
      2. Restraints
         1. Immature Reimbursement System for Digital Health Solutions
         2. Elderly Population has Limited Income, Making it Difficult to Monetize Solutions
         3. Language Barrier, as Most People don't Speak English
      3. Opportunities
         1. Telemedicine, E-Prescriptions, and Reimbursement for Digital Health Apps will be Game-Changers
         2. Wellness and Preventive Medicine Segments are Attractive, as People are Willing to Pay Out-Of-Pocket
         3. Japanese Life Insurers are Investing in Digital Health Solutions and Conducting M&A
         4. Harmonization of Regulations with the U.S. is Making Market Entry Easier for Medical Devices
      4. Challenges
         1. Balancing Tech Push with Patient Pull and Understanding the Local Problem and Value Proposition
         2. Developing Innovative, Profitable Business Models suited to the Japanese Market
         3. Finding the Right Local Partner for Distribution, Promotion, and Market Access
         4. Navigating the Regulatory Approval Process and Reimbursement System
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Japan HealthTech Market: Marketing Strategies
5. Japan HealthTech Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Technology
         1. Digital Health Systems
         2. Health Analytics
         3. Health Information Technology
         4. mHealth
         5. Telehealthcare
      2. By Component
         1. Hardware
         2. Software
         3. Services
      3. By Application
         1. Cardiology
         2. Diabetes
         3. Neurology
         4. Sleep Apnea
         5. Oncology
         6. Others
      4. By End User
         1. Healthcare Providers
         2. Healthcare Payers
         3. Healthcare Consumers
         4. Pharmaceutical Companies
         5. Others
6. Competitive Landscape
   1. List of Key Players and Their Range
   2. Japan HealthTech Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
7. Impact of Escalating Geopolitical Tensions on Japan HealthTech Market Industry
8. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
   1. Allm Inc.
   2. M3, Inc.
   3. Omron
   4. Whill
   5. FiNC
   6. CureApp
   7. AI Medical Service
   8. Awarefy
   9. iCARE
   10. Other prominent players
9. Key Strategic Recommendations
10. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents
    5. Assumption & Limitation

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Japan HealthTech Market Segmentation

Figure 2       Japan HealthTech Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Japan HealthTech Market Size, By Value (USD Million), 2019–2030

Figure 5       Japan HealthTech Market Share, By Technology, By Value, 2019–2030

Figure 6       Japan HealthTech Market Share, By Component, By Value, 2019–2030

Figure 7       Japan HealthTech Market Share, By Application, By Value, 2019–2030

Figure 8       Japan HealthTech Market Share, By End User, By Value, 2019–2030

List of Tables      

Table 1        Japan HealthTech Market Share, By Technology, By Value, 2019–2030

Table 2        Japan HealthTech Market Share, By Component, By Value, 2019–2030

Table 3        Japan HealthTech Market Share, By Application, By Value, 2019–2030

Table 4        Japan HealthTech Market Share, By End User, By Value, 2019–2030

Table 5        Allm Inc. Company Overview

Table 6        Allm Inc. Financial Overview

Table 7        M3, Inc. Company Overview

Table 8        M3, Inc. Financial Overview

Table 9        Omron Company Overview

Table 10      Omron Financial Overview

Table 11      Whill Company Overview

Table 12      Whill Financial Overview

Table 13      FiNC Company Overview

Table 14      FiNC Financial Overview

Table 15      CureApp Company Overview

Table 16      CureApp Financial Overview

Table 17      AI Medical Service Company Overview

Table 18      AI Medical Service Financial Overview

Table 19      Awarefy Company Overview

Table 20      Awarefy Financial Overview

Table 21      iCARE Company Overview

Table 22      iCARE Financial Overview