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Japan In-Vitro Diagnostics (IVD) Market Report 2022: Market is Predicted to Reach Nearly $4.5 Billion by 2028

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Dublin, May 04, 2022 (GLOBE NEWSWIRE) -- The "Japan In-Vitro Diagnostics (IVD) Market, Impact of COVID-19, Size, Share, Major Deals, Company Analysis, Trends and Recent Developments - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

Japan In Vitro Diagnostics (IVD) market is predicted to reach nearly US$ 4.5 Billion by 2028

Japan is one of the largest clinical laboratory markets in the Asia-Pacific region, and the fastest growing among the top ten IVD country markets. With an aging population, technological advances and advent of point of care diagnostics, Japanese IVD market is slated to show substantial growth in the future.

Japan's quickly aging population means the country is experiencing an explosion of chronic conditions such as diabetes, heart disease and cancer. All of these conditions can be diagnosed and monitored using IVD products. However, some of the factors limiting the growth of the market are a lack of proper reimbursement policies and stringent regulatory framework.

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

The COVID-19 outbreak has become a global stress test, as the disease has infected around 475 Million people worldwide. In Japan, COVID-19 disease has infected over 6.15 Million people (as of March 23, 2022), and the death toll has reached 27,246. The number is still growing, and the duration of the pandemic is still difficult to predict.

In the year 2020, the COVID-19 pandemic has restricted the growth of the Japan IVD market, as routine procedures were delayed by social restrictions and other precautionary measures taken in response to the COVID-19 pandemic. However, as governments began lifting social restrictions, the negative trend in the revenues of these businesses began to level off and stabilize prior to the third quarter of 2020.

The clouds of the new coronavirus threat loom over the world and continue to create havoc in the lives of millions of people. Maximum testing and quick hospitalization are key components for flattening the curve. In this scenario, the in-vitro diagnostics forms the crux of increased testing.

Manufacturers in the in-vitro diagnostic market are focusing on developing novel technologies for maximum testing within a minimum period. For instance, in April 2021, Sysmex Corporation obtained in vitro diagnostic approval in Japan for the manufacturing and marketing of the DetectAmp SARS-CoV-2 RT-PCR Kit, a SARS coronavirus nucleic acid kit that detects the RNA of the novel coronavirus (SARS-CoV-2).

The novel coronavirus has accelerated the research and development activities in the in-vitro diagnostics market. Therefore, quick approvals are proving to be the cherry on the cake for the growth of the in-vitro diagnostics market.

Segment Wise - Japan IVD Market and Forecast

  • On segment basis, Clinical Chemistry and Infectious disease are the leading segment of the Japan IVD market

  • Immunoassay holds the 3rd spot in the Japan in vitro diagnostics market

  • Tumor Marker and Hematology segments are competing closely with each other to grab maximum share of the pie

  • SMBG market accounted for around 13 percent share of the Japan IVD market in 2021

  • Pathology is one of the fastest growing segments of the Japan in vitro diagnostics market

Japan IVD Market - Company Analysis

  • In Japan IVD market, Sysmex Corporation is the leader, followed by Roche Diagnostics

  • Abbott Laboratories, Thermo Fisher Scientific Inc., and Danaher Corporation are the other top three players in the Japan IVD market

  • In July 2021, Sysmex Corporation formed a global strategic alliance with QIAGEN N.V for the development of cancer companion diagnostics

  • In October 2021, Bio-Rad Laboratories, Inc. launched their CFX Dx Real-Time PCR Detection systems- CFX Opus 96 Dx System and the CFX Opus 384 Dx System for In Vitro Diagnostics

  • In May 2020, Becton Dickinson and Company completed the acquisition of NAT Diagnostics to expand its point-of-care testing for infectious disease portfolio

Key Topics Covered:

1. Executive Summary

2. Impact of COVID-19 on Japan In-Vitro Diagnostics Market

3. Japan In-Vitro Diagnostics (IVD) Market and Market Share Analysis - Forecast to 2028
3.1 Japan IVD Market and Forecast (2002 - 2028)
3.2 By Segment - Japan IVD Market Share and Forecast (2008 - 2028)
3.3 By Company - Japan IVD Share and Forecast (2015 - 2028)

4. Japan IVD - Segments Wise Market and Forecast (2008 - 2028)
4.1 Urine & Feces Market and Forecast
4.2 Hematology Market and Forecast
4.3 Clinical Chemistry Market and Forecast
4.4 SMBG Market and Forecast
4.5 Tumor Marker Market and Forecast
4.6 Immunoassay Market and Forecast
4.7 Infectious Disease Market and Forecast
4.8 Microbiology Market and Forecast
4.9 Pathology Market and Forecast
4.10 Genetic Testing Market and Forecast
4.11 Others Market and Forecast

5. Japan IVD Market - Company Wise Sales Analysis (2014 - 2028)
5.1 Roche Diagnostics
5.1.1 Business Overview
5.1.2 Roche Diagnostics - Japan IVD Sales and Forecast
5.1.3 Recent Initiatives/ Strategy/ Developments
5.2 Abbott Laboratories
5.3 Danaher Corporation
5.4 Biomerieux
5.5 Sysmex Corporation
5.6 Bio-Rad Laboratories, Inc
5.7 Becton Dickinson and Company
5.8 Thermo Fisher Scientific Inc.
5.9 Others - Japan IVD Sales and Forecast

6. Japan IVD Market - Major Deals
6.1 2022
6.2 2021
6.3 2020
6.4 2019
6.5 2018
6.6 2017
6.7 2016

7. In-Vitro Diagnostics (IVD) Market - Recent Developments

8. Japan IVD Market - Driving Factors
8.1 Technology Advancement Spurring the IVD Market
8.2 Increase in Geriatric Population
8.3 High Prevalence of Chronic and Infectious Diseases

9. Japan IVD Market - Challenges
9.1 Cumbersome Reimbursement Procedure
9.2 Stringent Regulatory Framework
9.3 Operational Barriers Faced in Conducting Diagnostic Tests

For more information about this report visit https://www.researchandmarkets.com/r/92pxj8

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