Smart phone-based pain assessment and monitoring application developer PainChek Ltd (ASX: PCK) is moving to expand its activities to Japan after being accepted into the JETRO Business Connect programme for 2022.
JETRO is Japan’s core governmental organisation for promoting inward foreign business. As part of its programme PainChek will receive comprehensive support services to enter the Japanese market. This includes a broad range of Japan market data, a series of online business matching events connecting PainChek with local partners throughout Japan and guidance in relation to the Japanese regulatory clearance processes.
PainChek was accepted for the programme after a series of face-to-face meetings in London and achieving the set criteria under JETRO’s screening process.
Commencing from September 2022, PainChek representatives will now virtually meet with other companies, research groups and government officials across Japan to assist in business development opportunities in the country, backed by PR initiatives to increase awareness of the PainChek business and technology.
With an ageing population where 29.1% of the population is 65 or older, the highest among all countries globally, an excellent opportunity exists for PainChek within the Japanese market. It is estimated that 6.7 million Japanese citizens need care and approximately one million are in aged care facilities, reinforcing the potential for PainChek which is already used in over 800 aged care facilities globally.
PainChek has also identified further opportunities in other market segments in the region including combining its offering with Japan’s high tech, devices and artificial intelligence capabilities.
A priority for JETRO was identifying companies for the programme that had developed new digital healthcare technologies, with image diagnosis a specific focus point,” CEO, Philip Daffas, said.
“This made PainChek an outstanding candidate for JETRO and both parties are excited by the potential for collaboration with organisations in Japan and the positive outcomes it could lead to.
“This new initiative combined with our recent contact with FDA means PainChek can now plan effectively for market entry into the USA and Japan – two of the world’s largest medical device and aged care markets.”
