Japan's medical devices exports to get hit by slow global growth

Its exports were valued at JPY1.t (US$8.2b) in 2022.

Japan's medical device exports will experience a slowdown in global growth next year, driven by developed markets such as the US, which is Japan’s largest medical device export destination, according to BMI Research.

Japan’s medical device exports amounted to JPY1.0trn (USD8.2bn) in 2022, with diagnostic imaging products accounting for around half of this value.

"Japan has a well-developed domestic medical device production base producing high-tech products. This is supported by a number of national manufacturers such as Shimadzu, Olympus, Fukuda Denshi, and Hitachi Healthcare as well as multinational companies such as GE Healthcare and Johnson and Johnson," read the statement.

"High demand for diagnostic equipment globally, which is supported by ageing populations and rising incidences of chronic disease, will continue to support demand for Japan’s diagnostic exports over the medium-long term," it added.