Nov 21, 2017

According to the latest report, Japan’s drug delivery devices market, which was $2.56bn in 2016, is estimated to reach $3.4bn by 2023. The market is set to grow at a CAGR of 4.2% during the forecast period. The Drug delivery device is a diversified portfolio including central venous catheters, needle-free injections, infusion systems and metered dose inhaler devices and similar medical devices.

Japan’s drug delivery devices market reported sales of 107.56 million units in 2009, In 2016, the market has seen continued growth in sales 40.20 million units increase in-addition to 2009 sale units to 140.76 million units and estimated to grow further with a CAGR of 4.7% through 2016-2023.

The market expects believes that Japan’s drug delivery devices market will expand due to several factors such as rise in chronic diseases, demand for controlled drug release and new technologies. Players have to closely watch out the prevailing and emerging market trends in this competitive drug delivery devices landscape to tap the myriad opportunities.

Infusion Systems segment dominates the market with 60% of the total market share in the country and trends show that its growth pace will further continue, at a CAGR of 4.7% during 2016-23.Despite the stiff competition, domestic players Terumo Corp and Nipro Corp enjoyed a combined market share of 30.5% in 2016.

In coming years, players in the infusion systems segment will invest in several strategies such as product launches, innovations, research and development, M&As to sustain in the competitive market.