We understand the intense effect of the coronavirus on numerous businesses across the globe, affecting the opportunities, marketing strategies, and pricing models, that are further affecting the growth of the businesses worldwide. We provide updated pointers in this economic pandemic to help the conglomerates to sustain in these uncertain and challenging times and ensure that they take affirmative business decisions. Know More
The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2033 with Market Insights.
With the dip in global production, the GDP has contracted in 2022 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2033. This will have market drivers, recovery rate in the market, insights and competitive analysis.
The Japan Hip Reconstruction/Replacement Devices Market is projected to experience a modest CAGR during the forecast period, i.e., 2023-2033. Rising expenditure on research and development in healthcare, backed by the growing focus laid by the government of Japan on improving healthcare services in the nation, is one of the major factors anticipated to drive the growth of the market in the coming years. Along with this, the increasing adoption of numerous technologies by the healthcare organizations in the nation, who are implementing structural changes into their existing healthcare system, so as to enhance their productivity, is also projected to boost the market growth in the coming years. In the recent years, the healthcare network in Japan has been witnessing massive transformation. The healthcare sector in the nation has experienced a surge in the adoption of advanced medical technologies and devices. This helps the service providers in offering quality services to the individuals, which is anticipated to play an important role to boost the growth of the market in Japan during the forecast period. Further, the adoption of modern diagnostic technologies for the treatment of patients in Japan, is also poised to display massive growth opportunities for the market in the coming years.
The government/compulsory health spending per capita in Japan reached USD 4665.6 in 2020, up from USD 4295.9 in the year 2016. Besides this, in the year 2019, the nation spent more than 10% of its GDP on health care. The health priority in the region also increased from 15.31% in the year 2000 to 24.21% in the year 2019. The study on the Japan Hip Reconstruction/Replacement Devices market includes a detailed analysis of the recent market developments, followed by details on the overall market size and revenue growth. Moreover, details on market segmentation, challenges and opportunities, along with the growth drivers associated with the growth of the market are also covered in this market research study. Additionally, the Japan Hip Reconstruction/Replacement Devices market is estimated to attain notable absolute $ opportunity value by the end of 2033 as compared to the value achieved in 2022.
The Japan Hip Reconstruction/Replacement Devices market research report offers risk analysis of the market for both the historical years and the future years. It also majorly covers the demand and supply risk that may be affecting the market growth. Further, the existing and future market trends prevalent in the region, are also explained in this report. Besides this, the study of the correlation and regression analysis for the determination of relation between independent and dependent variables, are also covered in this market research study.
Japan registered an increase in GDP per capita growth of 2.1 percent in 2021, up from -4.2 percent registered in 2020. The growth rate in the year 2021 was considered to be the highest since 2014 (0.4%). The nation further witnessed 1.97% as an average of annual growth rate for out of pocket spending (OOPS) in real terms between the years 2000 and 2019. Additionally, the average of annual growth rate for government health spending (GGHED) between the same period was 3.33%. On the other hand, the average of GGHED as a share of GDP in the year 2019 was 9.01%, while the average of OOPS as a share of GDP was 12.91% in Japan.
Between the year 2000 and 2019, the average annual rate of growth of current health expenditure was 2.33%. Further, the average annual medical expenditure for outpatients is USD 3273 per person. This corresponds to USD 16365 in 5 years. On the other hand, the domestic general government health expenditure per capita (PPP), in current international $, touched USD 3846.54 in the year 2019, up from USD 1535.39 in the year 2000 and USD 2615.04 in the year 2010. Further, the domestic general government health expenditure (as a share of current health expenditure) in the nation grew from 80.43% in the year 2000 to 83.86% in the year 2019. Further, the domestic general government health expenditure per capita (in current US$) in Japan touched USD 3656.55 in the year 2019, up from USD 2204.34 in the year 2000.
Japan is home to a large population base for people above 65 years of age. In the year 2019, the population aged 65 years or over in the nation was 35524 Thousand, which is further expected to increase to 37728 Thousand by the end of 2030. In terms of percentage, this age group comprised of 28.0% in the year 2019 and by the end of 2030, this share is expected to reach 30.9%. Hence, with the presence of a such large population base, the individuals are always in need for receiving quality healthcare services. Life expectancy at birth in total years in Japan touched 85 years in the year 2020, which was increase from 81 years in the year 2000. Amongst males, this reached 82 years, up from 78 years during the same period, while for females, it grew from 85 years to 88 years. The survival to age 65 amongst females as a share of cohort in the nation reached 95% in the year 2020, up from 94% in the year 2010. On the other hand, for males, this grew from 87% to 90% in the same period.
The report includes a section on North America region which is further segmented on a country/regional level including United States, and Canada.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
Major Target Audience for this report:
Crucial Questions Answered in this report:
Scope for the Customization:
We are open for the customization of this report for our client.