Artificial organs and bionics are mechanical devices that can be implanted into humans to substitute for a natural organ or offer support towards restoring of certain bodily functions by which the patient may be able to return to normal life. Japan has one of the strictest organ donation laws in the world. As result there is a scarcity of organ donors in Japan, leading to unattended patients. Growing geriatric population is another concern for Japan. Older population are prone to organ failures. This problem coupled with scarcity of organs has increased the demand for organ donations. As a result, the artificial organ market is gaining prevalence in Japan. Rate of road mishaps and resulting disabilities is also increasing in Japan. This has increased the demand for bionics market in Japan as well.
However, high cost of devices and procedures and risk of compatibility issues and malfunctions has been restraining the market growth.
Key Market Trends
Artificial Heart Transplant is expected to Dominate the Market
As per 2017 United Nations on “World Aging Population”, in 2017, Japan has the highest percentage of population aged above 60 years of age, with 33.4% of the population belonging to this demographic. Moreover, the report estimates that this demographic will increase to 42.4% by 2050.
The elderly population is susceptible to suffer from various chronic ailments including kidney diseases, cardiovascular disorders, and neurological conditions, among the others. With the growing age, the probability of suffering from organ failures escalates significantly. As a result, increasing geriatric population in Japan is expected to expand artificial organs and bionics market in the future.
Competitive Landscape
Japan is a developed country and has trade relations other developed nations. As a result, it enjoys the presence of most of the global players in the Japan artificial organs and bionic implants market. Moreover, international players like Asahi Kasei Corporation are Japanese multinationals. This, along with the presence of other global players, has made the Japanese market very competitive for artificial organs and bionic implants.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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