Espicom's in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year. Japan is the second largest economy in the world behind the USA, and the same is also true in relation to the medical market. Per capita GDP rates are also high, among the top ten in the world. The USA and Germany are the only countries to import more medical equipment, and Japan is the eighth highest exporter of medical devices in the world.

The country has some of the best vital statistics in the world, including the lowest infant mortality rates and highest adult life expectancies. A rapidly ageing population has burdened the healthcare system both in terms of funding and facilities and is of great concern for the Japanese government. As a result, payments made by the government to medical institutions have been slashed (by record levels in 2006) in an attempt to ease national medical spending. The growing number of patients requiring long-term care and the advent of the elderly health insurance system offers great potential within the market.

Japan has the most expensive medical equipment in the world. It should however be borne in mind that some of the reasons for this lie with a distribution system that hikes up retail prices with hidden costs. An awkward regulatory system, a slow approval process and cultural differences have often put off some overseas investors, although recent legislation has attempted to address many access difficulties. The government is attempting to reform the notoriously lengthy period of healthcare product approval with the creation of a new organisation overseeing both medical devices and pharmaceuticals.