How the Medical Industry is Improving Life for Japan’s Aging Population
Everyone in Japan knows its citizenry is getting older at a faster rate than that of any other nation. But for outsiders, the most striking insight may be that the Japanese want to face aging well. In fact, by government edict, the goal is to direct policy, health care, and even citizens themselves toward longer, healthier, more enriching lives.
The resulting lessons will be critical to life science companies worldwide as the aging trend prevalent in Japan expands to other nations. These companies are using Japan to deepen their understanding of the business opportunities in health care, medical equipment, and related services resulting from the innate human desire for happiness at any age.
Japan already enjoys the world’s second-biggest market in medical devices. For example, the nation leads the world in MRI machines per capita. By country, Japan had 9.1 percent of the 2014 global medical device market—behind the U.S. and ahead of Germany. Meanwhile, Japan’s market is expected to continue to grow as the nation’s population continues to age and need medical equipment.
Read More: HBR
