Japan and India Strengthen MedTech Collaboration Amid Market Growth
The collaboration between Japan and India in the MedTech sector is expanding, driven by Japan's aging population and India's emerging market potential. By 2035, Japan's medical devices market is projected to reach $45.2 billion, with significant interest from Japanese companies in India's healthcare growth opportunities.
Theia Market Signal Identification - AI AssistedJapan is the fourth-largest producer of medical technology, generating $21.44 billion in revenue in 2024, with an expected growth to $45.2 billion by 2035. As Indian healthcare is projected to grow from $198 billion to $320 billion by 2028, approximately 81% of Japanese firms express intent to expand in India.
Japanese companies such as Canon and Fujifilm are increasing their investments in local manufacturing and healthcare services. The 2014 Memorandum of Cooperation between India and Japan has fostered collaboration in human resource development and healthcare delivery. The integration of AI and robotics in healthcare presents opportunities to address challenges like access and quality of care, indicating a transformative phase for both nations' MedTech industries.
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