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The Pharmaceutical Market: Japan
Espicom Business Intelligence Ltd, Oct 2011, Pages: 124
THE PHARMACEUTICAL MARKET: JAPAN - REVIEW
Espicom projects that the Japanese pharmaceutical market will grow by a low single-digit CAGR in dollar terms between 2011 and 2016. Japan will be the second largest pharmaceutical market in the Asia Pacific region, having been overtaken by China in 2016. Japan has a growing elderly population and in 2016 it is expected to be the largest in percentage terms in the Asia Pacific region, at over a quarter of the population. This will put enormous pressure on the government’s healthcare budget. Japan will also rank as the country with both the second highest total health expenditure and second largest per capita spending in the Asia Pacific region in 2016, due to its large population of over 65 years old that creates a high demand for pharmaceuticals.
The government has decided to aggressively promote generics in Japan, stating that they must form 30.0% of the market by 2012. At present, however, this figure appears unattainable, but may be possible if the multinational presence in the market continues to grow. Pharmacists are also encouraged to substitute prescribed branded drugs for generic ones, a move that has angered physicians and the government has hinted at changing. Leading generic companies include Nichi-iko, Sawai, Taiyo and Towa. Teva is projected to be the generic market leader in Japan in a few years time, following its joint-venture with Kowa and planned acquisition of Taiyo for ¥40.0 billion (US$495.3 million).
The government has introduced preferential measures and subsidies to revive the manufacturing of vaccines in Japan. Several large Japanese manufacturers, such as Takeda, have already taken advantage of the incentives to launch vaccine production. In 2010, Takeda received a government subsidy to expand the development, production and supply of pandemic, cell culture-based flu vaccines in Japan. There have also been some other significant developments during Q1 2011 and Q2 2011 in the biologic sector in Japan. Fujifilm, for instance, acquired two biopharmaceutical units of Merck & Co., Diosynth RTP and MSD Biologics, for about ¥40.0 billion (US$490.0 million).
Takeda is the largest domestic pharmaceutical manufacturer in terms of sales, and has been by a considerable margin for some time. Other leading domestic producers include Astellas, Daiichi Sankyo and Eisai. Over the past five years, the fastest growing pharmaceutical companies have been Mitsubishi Tanabe Pharma, Dainippon Sumitomo Pharma, Kyowa Hakko Kirin Company, Shionogi & Co Ltd. and Otsuka. The leading foreign pharmaceutical companies in terms of sales in Japan are Pfizer, Roche and Novartis. A number of multinational companies are actively seeking to expand their operations in Japan, notably Pfizer, GlaxoSmithKline, Novartis and Bristol-Myers Squibb.
ENHANCED STRATEGIC INTELLIGENCE
These highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
- Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
- Specialised intelligence on OTCs, generics, biologics and biosimilars.
- Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
- A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
- The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
HEALTHCARE STATISTICS
A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.
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