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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.
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Top Dominating Key Players:
- GENERAL ELECTRIC
- Fujifilm Sonosite, Inc.
- Hitachi Medical
- Canon Medical Systems Corporation
- Shimadzu Corporation
- Lilium Otsuka Co., Ltd.
- Fukuda Denshi Co., Ltd.
- Konica Minolta Japan
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.
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