09 Feb 2021
Posted in Medical Devices
Japan continue to lead APAC assisted reproductive technology devices market through 2030, says GlobalData
Japan is the largest market for assisted reproductive technology (ART) devices in the Asia-Pacific (APAC) region in 2020 and is expected to remain the same through 2030, according to GlobalData, a leading data and analytics company.
GlobalData’s report, Assisted Reproductive Technology Devices (General Surgery) – Global Market Analysis and Forecast Model (COVID-19 Market Impact), reveals that despite declining population in Japan, the number of ART procedures has continued to increase and the market in Japan is expected to grow at a compound annual growth rate of 2.1% between 2020 and 2030.
Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments: “Assisted reproduction has become more common in Japan due to increased awareness and growing support from the government.”
Increasing unmarried rate, late marriages and delayed family expansion plans, and married couples choosing to have fewer children are some of the key factors resulting in low fertility rate in Japan.
The continued population decline is making the government enact family-friendly policies and subsidize female reproductive health methods, and this is, in part, driving the ART devices market in Japan.
Ms Thammanabhatla concludes: “Though the usage of ART devices in Japan is increasing, providing mandatory health insurance coverage of ART treatment, increasing access to treatment and educating people on the options available is expected to improve the fertility rate and drive the ART devices market further during the forecast period.”