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Overview: Medical Care and Welfare
A Market that is Expanding as the Population Ages
As Japan’s population ages more rapidly than that of any other developed country, the medical care and welfare markets in Japan are expected to expand significantly in the future. In response to the public’s increased awareness of health issues and the government’s implementation of supportive policies, the market is showing signs of developing new fields that include preventive medicine and nursing care services with emphasis on the prevention of age-related diseases.
Emergence of New Business Opportunities
The ever changing and expanding medical care and welfare market in Japan has contributed to developing many new business opportunities; for example, in generics, over-the-counter drugs(OTCs), and health management services. In addition, novel drugs and medical devices, including biopharmaceuticals and nanomedicines, are under development. Companies from other industries are also entering the market, leading to dynamic business activities.
Table of Contents Market Overview Key Sectors Policy Initiatives Regional Opportunities 4 6 12 14
Government Supports Medical Care and Welfare as a Key Sector The Japanese medical care and welfare industry, which promises the expansion of domestic demand as a result of the aging society, is expected to serve as an engine for the entire economy of the nation. The government regards the industry as one of the strategic areas, and has been implementing various deregulation and other incentive policies.
Manufacturers of drugs and medical devices are strategically taking advantage of regional benefits in marketing their products to manage their businesses effectively. Local governments have also been engaged in improving the business environment to invite foreign companies.
Percentage of population aged 65 or older
Longer Life Spans Contributing to the Growth of the Medical Care and Welfare Market Japan finds itself moving into an aging society, something that no other country in the world has yet experienced. A survey from the Ministry of Internal Affairs and Communications indicates that the number of elderly people 65 years of age and older has reached an all-time record of about 29.4 million as of September 2010, accounting for a large 23.1% of the entire population. According to data from the U.N. World Population Prospects, it is expected that one-third or more of the entire population will be elderly by 2050. The advent of an aging society will contribute to significant growth of the medical care and welfare market.
Well-organized Medical and Long-term Care Insurance Systems
Japan's universal health insurance system, which was...
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