Michael Barbella, Managing Editor05.05.21
Despite a declining population and low fertility rates, the assisted reproductive technology (ART) devices market in Japan is primed for growth over the next decade.
GlobalData predicts that Japan—currently Asia-Pacific's largest sector for ART devices—will continue to dominate the region through 2030. Despite declining population in Japan, the number of ART procedures has continued to increase and the market there is expected to grow at a compound annual growth rate of 2.1 percent over the next nine years.
“Assisted reproduction has become more common in Japan due to increased awareness and growing support from the government,” said Pratibha Thammanabhatla, a medical devices analyst at GlobalData.
An increasing rate of unmarried people, 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.
“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,” Thammanabhatia noted.
GlobalData predicts that Japan—currently Asia-Pacific's largest sector for ART devices—will continue to dominate the region through 2030. Despite declining population in Japan, the number of ART procedures has continued to increase and the market there is expected to grow at a compound annual growth rate of 2.1 percent over the next nine years.
“Assisted reproduction has become more common in Japan due to increased awareness and growing support from the government,” said Pratibha Thammanabhatla, a medical devices analyst at GlobalData.
An increasing rate of unmarried people, 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.
“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,” Thammanabhatia noted.
