(PRWEB) March 22, 2006
The aging Japanese population continues to place extreme pressure on the nation’s health care system. In 2005, nearly 20% of the Japanese population was over the age of 65, and by 2015, more than one-quarter of the nation will be considered elderly. As a result, there will be a subsequent increase in the number of chronically ill patients, and hospital bed occupancies will boom over the next decade. The increasing prevalence of cancer and end stage renal disease—of which Japan has the second highest rate worldwide—are leading to an increase in infusion therapies such as vascular access (VA) procedures.
Although the market for Japanese VA devices is mature, chemotherapy treatments using implantable ports, central venous catheters, peripherally inserted catheters, as well hemodialysis treatments using dialysis catheters are all expected to rise over the next 5 years. MRG reports that this growth will slightly stimulate unit sales for the aforementioned VA devices and drive market revenues at a CAGR of just under 1%.
Portable ultrasound vascular devices (UVADs) were introduced by Nippon Sherwood as recently as July 2004. These devices will benefit greatly from the over 2 million VA devices placed per year in Japan. Specifically, the use of ultrasound will increase placement efficiency and limit complications that occur during catheter placements. Because the market is very new, rapid adoption (over 300% growth in its first year) will be the main driver behind VA revenue growth over the next 5 years. Nonetheless, while an increase in unit sales is expected for the Japanese VA market, the Japanese Ministry of Health, Labour and Welfare (MHLW) has implanted a system of reimbursement rate reductions that will drive ASPs downward and curtail revenues generated from the market. Over the next 5 years, revenues will fluctuate around $180 million until the MHLW ceases to cut reimbursement rates.
MRG’s Japanese Markets for Vascular Access 2006 report is part of its Global Markets for Vascular Access series, which includes analysis on the United States, Europe, and key industry competitors. The global report series covers over 20 competitors, including Arrow International (ARRO), Kendall (TYC), Smith’s Medical (SMIN.L), B. Braun, C.R. Bard (BCR), Terumo, Vygon, Cook, and Edwards Lifesciences (EW).
About Millennium Research Group
Millennium Research Group is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services. MRG was ranked among the top 25 fastest-growing companies in Canada in both 2004 and 2005 by Profit Magazine. Visit Millennium Research Group on the Web at http://www.mrg.net.
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