At present, Japan’s healthcare & medical device market is the third largest in the world. It is heavily influenced by imported innovations, which in the case of medical devices make up 49% of the total market share. The Japanese healthcare service market is expected to grow to EUR 83 trillion by 2020.
With a rapidly ageing population, shortness of qualified staff and need to surpass societal issues using healthcare tech, there is a strong demand in Japan for customised solutions that are often produced only outside its borders.
The government is reviewing its regulatory processes and makes it increasingly easier for foreign companies to enter the market. The Pharmaceutical and Medical Device (PMD) Act is set to ease import regulations and help expand the import market.
Previously, European companies had a harder time competing with local manufacturers, especially in areas like therapeutic and surgical equipment or monitoring systems.
It is quickly becoming easier for companies in certain sub-sectors to export innovative, high-performing, cost-efficient solutions to Japan.
It is in these sub-sectors that European companies can make a difference.
Electronic medical record systems, IoT devices in healthcare, nursing care ICT, self-care & home health equipment, diagnostic imaging systems, community and elderly care systems, radiography and pathology systems, telemedicine communications systems and nanotechnology products and systems are some of the segments with emerging opportunities for European manufacturers.
For those companies from Europe that fit the bill, a new opportunity from EU Gateway | Business Avenues launches today.
Up to 40 companies have a chance to make their way to Japan in 2020 to meet selected customers and partners and create new export business opportunities on the market.
Don’t miss your chance to be selected for the mission and generate future business opportunities for your company.
More details about the mission can be found at this link.