Japan Urology Ultrasound Equipment Market is expected to reach US$ 39.22 Mn by 2027


PRESS RELEASE BY The Insight Partners 31 Mar 2021

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Japan Urology Ultrasound Equipment Market: Key Insights

 

According to our new research study on “Japan Urology Ultrasound Equipment Market to 2027 – Global Analysis and Forecast – by Type, and End User,” the Japan urology ultrasound equipment market was valued at US$ 21.16 million in 2019 and is projected to reach US$ 39.22 million by 2027; it is expected to grow at a CAGR of 7.2% during 2020–2027. The growth of the market is attributed to Increasing urological disorders in elderly population, and growing medical devices industry in japan. However, alternative to ultrasound technology is likely to restrain the growth of Japan urology ultrasound equipment market. `

 

In 2019, trolley/ cart based segment dominated the Japan urology ultrasound equipment market by type. The growth of the segment in the country is credited to extensive product offering by various players in the market. Various players are offering trolley/ cart based ultrasound equipment, such as Honda Electronics Co., Ltd., Fujifilm Holdings, Esaote, and others. Higher applications of trolley/ cart based ultrasound, more accuracy in diagnostic capacities, and high performance are the major factors driving growth. The market for the segment is anticipated to grow in the future on the back of increasing the use of these devices to treat urological diseases. Based on end user, the Japan urology ultrasound equipment market is segmented into hospitals and surgical centers, ambulatory care centers, and others. The hospitals and surgical centers segment accounted for more than 47.1 % of the market in 2019. The growth of the segment is widely driven by the benefits or the advantages offered by the hospitals and surgical centers. In addition, rising prevalence of various diseases resulting in increasing admissions in hospitals for diagnostics and treatment procedures, an increasing number of hospitals across the country, and rapid growth of different surgical procedures have primarily attributed to the growth of this segment in the market in the coming years.

 

Revival in The Use of Ultrasound Fuels Growth Opportunities for Japan Urology Ultrasound Equipment Market

 

The urology ultrasound equipment market is estimated to have significant growth opportunities due to the resumption of using ultrasound for both diagnosis and treatment of nephrolithiasis. The field of urology has experienced a decline in the use of radiation exposure through computed tomography (CT) scans and fluoroscopy. With the decline in the use of these technologies, there are various opportunities for an ultrasound to play a vital role in diagnosing and treating urological conditions.

The urology condition, such as urinary stone, was largely diagnosed with fluoroscopy; however, the technology has disadvantages related to the visualization of visceral organs around the kidney. There are other disadvantages to the patient, treating surgeon and operating room staff due to exposure to the radiation. Thus, the focus of ultrasound has gained attraction as a treatment option for nephrolithiasis. The ultrasound system further serves the option to be used as a system for open surgery through anatrophic nephrolithotomy to percutaneous nephrolithotomy (PCNL), and retrograde intra-renal surgery (RIRS) has reverted the use of ultrasound.

Moreover, the significant advancement in ultrasound technology is expected to continue the use of the system for urological procedures. Thus, owing to the advantages of ultrasound is likely to continue to serve growth opportunities in coming years.

 

Japan Urology Ultrasound Equipment Market: Segmental Overview

In terms of type, the point-of-care segment is anticipated to register the highest CAGR in the Japan urology ultrasound equipment market during the forecast period. Point-of-care ultrasound (POCUS) has adequate precision for urolithiasis diagnosis. The equipment can be a useful tool for imaging symptomatic emergency division patients. Ultrasound permits quicker imaging than computed tomography (CT) without ionizing radiation and expected costs less. It is advised to use POCUS as the first line of imaging in the assessment of patients with suspected urolithiasis. The machines have portability and ease to use, and they use advanced imaging technology for prostate, testicle, bladder, kidney, and more. The POCUS helps and guides in a very accessible manner, and the probes designed for patient comfort.

Various players are offering point-of-care ultrasound devices, such as Techno Medica Co., Ltd., HORIBA Ltd., Nippon Sigmax Co., Ltd., and others. Increasing acceptance of point-of-care ultrasound by healthcare professionals are the major factors driving growth. The market for a segment is anticipated to grow in the future on the back of increasing the use of devices to treat urological disorders.

 

Japan Urology Ultrasound Equipment Market: Competition Landscape and Key Developments

Socionext Inc., Fukuda Denshi, Konica Minolta, Inc., CHISON, MCUBETECH, Hitachi, Ltd., Fujifilm Holdings Corporation, General Electric Company, Verathon Inc., Canon Medical Systems Corporation, Shimadzu Corporation, and Lilium Otsuka Co., Ltd. (Otsuka Holdings Co., Ltd.). are among the key companies operating in the global Japan urology ultrasound equipment market. Leading players are focusing on the expansion of their product portfolio through product launches and product approval for the products catering the market, and acquisition of new customer base, thereby tapping prevailing business opportunities.

In October 2019, Socionext Inc., announced the launch of next-gen radar sensors for IoT, which can detect location and movement of persons with high sensitivity, low power consumption and low cost. With this launch the company will expand its product portfolio and market share as well.

In January, 2018, Hitachi Healthcare has entered into an agreement to acquire VidiStar, LLC, and a Greenville, SC-based company. The acquisition of VidiStar will advance the company's informatics strategy and analytics capabilities to improve workflow and intelligence for physicians, particularly with those providers conducting diagnostic ultrasound examinations.

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