Extensive foreign direct investments for the development of healthcare industry and growing old age population are estimated to support the growth of Japan diagnostic labs in the forecast period, 2023-2027.
According to TechSci Research report, “Japan Diagnostics Lab Market – By Region, Competition Forecast & Opportunities, 2027”, the Japan Diagnostics Lab market is expected to witness growth at a significant rate in 2023-2027. Diagnostic labs represent the center in which various tests and medical tests are performed as per the requirement of the patient to help in detecting or diagnosis of any disease. These tests aid in the controlling, surveillance, and prevention of any infectious or chronic disease. Diagnostic tests help in improving patient care and reducing healthcare spending. Japan has an advanced healthcare sector that continuously focus on technological evolution to fulfil the growing testing requirements. The escalating demand for point-of-care devices among patients and the government support to improve the healthcare infrastructure are driving the demand for the diagnostics lab market across Japan. Continuous evolutions are occurring in the field of medicine, especially in diagnostic laboratory services, and advanced techniques are being discovered at a regular pace. This further propelled substantial number of people to work in this industry, which results into pushing the diagnostic laboratory services market to gain boundless growth. Many people are gradually getting aware of the immense advantages provided by quality diagnostic services when it comes to understanding and treating ailments. All these aforementioned factors are expected to support the market growth in the forthcoming years.
The growing geriatric population who are more prone to immunological disorders and the need of the services of diagnostic labs for early disease diagnosis accelerates the market growth. Additionally, the rising awareness about the benefits of personalized medicines to treat chronic diseases, such as cancer, is anticipated to bolster the growth of the diagnostics labs market for the next five years.
However, the implementation of stringent government regulations and inadequate reimbursement policies are limiting the growth of Japan diagnostics lab market in the upcoming years.
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The Japan diagnostic labs market is segmented into provider type, test type, end user, regional distribution, and competitive landscape.
Based on provider type, the market is divided into hospital, stand-alone center, and diagnostic chains. Diagnostic chains are anticipated to hold the significant market share in the forecast period, 2023-2027. Stringent pricing norms set up by the government authorities and the inflating per capita income stimulates the need for advanced tests and procedures from diagnostic chains.
Based on test type, the market is divided into radiology and pathology. The pathology segment is expected to dominate the Japan diagnostic labs market for the forthcoming years. An increase in awareness among individuals towards medical testing and early diseases detection is projected to propel the demand for diagnostic labs across Malaysia. Pathology offers alternatives as it supports home-based testing and testing at the lab center. The growing awareness about the benefits of using diagnostic labs in the country and the option to opt for the testing type as per the patient preference will continue to bolster the segment growth over the forecast period.
Based on end-user, the market is divided into corporate clients, walk-ins, and referrals. The corporate client segment is expected to account for a largest market share in the forecast period. The rise in the adoption of diagnostic labs, especially during COVID-19, to prevent the spread of novel coronavirus in corporate offices accelerated the segment growth from corporate offices.
Leading market players operating in the Japan diagnostics lab market are:
- Miraca Holdings Inc.
- Eurofins Scientific (Genetic Lab)
- BML, Inc.
- Forest Japan Medical Centre
- H.U. Group
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“The improving focus of market players on the development of advanced diagnostic labs and the integration of new technologies to augments the accuracy of medical testing is expected to positively influence the market growth. The emerging trend of lab automation and the introduction of numerous specialized tests for early disease diagnosis and management are revolutionizing the diagnostic labs market across Japan. The increase in the prevalence of lifestyle diseases, including atherosclerosis, cardiovascular disease, and stroke, and the supportive government policies promoting the healthcare industry is anticipated to fuel the Japan diagnostics lab market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“Japan Diagnostics Lab Market By Provider Type (Hospital, Stand-Alone Centre, Diagnostic Chains), By Test Type (Radiology v/s Pathology), By End User (Corporate Clients, Walk-ins, Referrals), By Region, Competition Forecast & Opportunities, 2027” has analyzed the future growth potential of Japan diagnostics lab market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in Japan diagnostics lab market.
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