Time to Prioritize Japan for Medical Devices and Healthcare Technology
It really is time to prioritize Japan for your medical device or healthcare technology. You likely already have success in major markets like the US, Australia, Canada, or Europe, but the Japanese market seems to have evaded you thus far. Reasons could be distance from your home market, perceptions of cultural or language difficulties, lack of information about the market, or even a bad experience trying for regulatory approval with the PMDA, or a less than satisfactory experience with a distributor or partner in Japan.
Even if Japan has been off the radar or on the back burner for a long time, it really is time to put it the top of your to do list.
A few reasons to enter the Japanese medical device market include the fact that it is #3 largest Medical Device Market based on top-line revenues. But it is probably the second or even first most valuable in terms of business success. Strong reimbursement levels, a very well functioning business environment, and extreme customer loyalty make this possible.
The Japanese medical device market is set for a 4% Growth Rate for the foreseeable future, supported by an excellent and cost effective Universal Health Coverage system. The Japanese healthcare system will look familiar to Europeans or Canadians who enjoy a similar level of care. The Japanese medical device market is split almost 50/50 between Japanese and overseas suppliers, and healthcare providers readily accept imported technologies.
At the moment, the various levels of government are also supporting EHR and Med Tech adoption.
Some overseas companies have the idea that the Japanese approval system through the PMDA is slow and opaque but the reality is quite the opposite. Fast and Transparent Regulatory Approvals at PMDA make Japan one of the fastest countries for approvals.
Check out our White Paper in the products page.
The to success in Japan is having the right people working for you on the ground in Japan. Parkdale Group is a Japanese company located in beautiful Kyoto, and we are ready to help you with your market entry project in Japan.
Contact our Representative Director, Philip O'Neill at email@example.com to set up meeting to discuss how we can work with you.
Copyright, Parkdale Group, Inc. 2021.