Japan Urology Ultrasound Equipment Market to Grow at a CAGR of 7.2% to reach US$ 39.22 Mn from 2018 to 2027

Japan Urology Ultrasound Equipment Market to 2027 - Country Analysis and Forecasts by Type (Trolley/ Cart Based, Compact, Point-of-Care); End User (Hospitals and Surgical Centers, Ambulatory Care Centers, Others), and Geography

Publication Month : Nov 2019

  • Report Code : TIPRE00007529
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 71
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The Japan urology ultrasound equipment market is expected to reach US$ 39.22 Mn in 2027 from US$ 21.16 Mn in 2018. The market is anticipated to grow with a CAGR of 7.2% from 2019-2027.

The growth of the market is driven by factors such as increasing urological disorders in the elderly population and the growing medical devices industry in japan. However, the urology ultrasound equipment market is likely to get hampered by the risk factor, such as an alternative to ultrasound technology during the forecast period.

Japan has a well-developed healthcare industry, and it has a robust domestic manufacturing market for medical devices. The country is accounted for among the world’s biggest medical device market. Various Japanese medical device companies have established their presence in the international market. For instance, companies such as Hitachi, Ltd, is among the multinational conglomerate company, which is offering its urology ultrasound in the global markets. According to Emergo, it was estimated that the Japanese medical device industry was valued at US$28.1 billion in 2016 and is projected to grow steadily through 2020. However, in Japan, various medical devices are being imported, and the country also owes multiple opportunities for foreign players to manufacture their medical devices across the country. The country’s reputation as a hub of technological innovation has allowed various international players such as Siemens AG and Koninklijke Philips N.V.to to operate in the market. Therefore, owing to the factors mentioned above, the market is likely to propel in during the forecast period.

The Japan urology ultrasound equipment market is segmented on the type and end user. Among the type segment, the point-of-care segment is expected to grow at a significant rate of 8.1% during the forecast period. In 2019, the trolley/ cart based segment held the largest market share in the Japan urology ultrasound equipment market.

Japan Urology Ultrasound Equipment Market Revenue and Forecasts to 2027 (US$ Mn)

Japan Urology Ultrasound Equipment Market
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JAPAN UROLOGY ULTRASOUND EQUIPMENT– MARKET SEGMENTATION


By Type

  • Trolley/ Cart Based
  • Compact
  • Point-of-Care

By End User

  • Hospitals and Surgical Centers
  • Ambulatory Care Centers
  • Others

Companies Mentioned

  • GENERAL ELECTRIC
  • Fujifilm Sonosite, Inc.
  • Hitachi Medical
  • Verathon
  • Canon Medical Systems Corporation
  • Shimadzu Corporation
  • Lilium Otsuka Co., Ltd.
  • Fukuda Denshi Co., Ltd.
  • Socionext
  • Konica Minolta Japan
  • Chison Medical Imaging
  • MCUBE Technology Co., Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

  1. GENERAL ELECTRIC
  2. Fujifilm Sonosite, Inc.
  3. Hitachi Medical
  4. Verathon
  5. Canon Medical Systems Corporation
  6. Shimadzu Corporation
  7. Lilium Otsuka Co., Ltd.
  8. Fukuda Denshi Co., Ltd.
  9. Socionext
  10. Konica Minolta Japan
  11. Chison Medical Imaging
  12. MCUBE Technology Co., Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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