Research and Markets: Japanese Healthcare, Regulatory and Reimbursement Landscape Report 2015
April 01 2015 - 6:33AM
Business Wire
Research and Markets
(http://www.researchandmarkets.com/research/l9xl2z/countryfocus)
has announced the addition of the "CountryFocus: Healthcare,
Regulatory and Reimbursement Landscape - Japan" report to their
offering.
Japanese Pharmaceutical Market Value Edging Towards $80 Billion
by 2020
Japan's pharmaceutical market value is set to grow at a tepid
Compound Annual Growth Rate (CAGR) of 1.3% from $72.8 billion in
2013 to reach $79.8 billion by 2020, driven by new product launches
and the healthcare burden of the country's aging population,
according to research and consulting firm The authors.
However, the company's latest report* states that the Japanese
government's promotion of generic drugs, its biennial pricing
review system and the depreciation of the yen against the dollar
will be limiting factors in what is the second largest mature
pharmaceutical market in the world by value.
The market was valued at $64.2 billion in 2008 and peaked at $88
billion in 2011, before a slight dip to $87.2 billion in 2012. A
substantial drop in 2013 saw its value decrease by over $14
billion, but The authors expects a steady period of recovery to
follow.
Joshua Owide, Director of Healthcare Industry Dynamics, says:
Deregulation measures introduced in April 2005 have had an impact
on overall market performance and more efficient drug reviews have
facilitated the entry of new products.
The approval process has now caught up with that outside of
Japan, as highlighted by two approvals for Bristol-Myers Squibb,
the Daklinza (daclatasvir) and Sunvepra (asunaprevir) dual regimen
for hepatitis C, and Opdivo (nivolumab) for melanoma, prior to
their approval by the US Food and Drug Administration.
Aside from wider economic factors, such as currency exchange
rates, The authors states that increased use of generic drugs will
be a key contributor to the forthcoming period of slow growth to
2020.
Owide continues: In 2008, generics accounted for 19% of the
pharmaceutical space in terms of volume, rising to 25.2% in 2013.
Japan has set a goal for generics to account for 60% of all drug
use by 2017.
To this end, the Ministry of Health, Labor and Welfare announced
new price cuts in 2013 for drugs with generic replacement of less
than 60%, a move which is likely to limit future growth in the
pharmaceutical arena.
Key Topics Covered:
1 Tables & Figures
2 Introduction
3 Overview of the Pharmaceutical and Medical Device Markets
4 Market Access
5 Country Analysis
6 Opportunities and Challenges
7 Appendix
For more information visit
http://www.researchandmarkets.com/research/l9xl2z/countryfocus
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