Japan Pharmaceutical Market Growth, Trends, COVID-19 Impact, and Forecasts 2021-2026 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Japan Pharmaceutical Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Japan Pharmaceutical market studied was anticipated to show a slow growth with a CAGR of 1.06%.
In Japan, the pharmaceutical industry has experienced modest growth patterns in recent years. Strong regulation and pricing systems, along with frequent price cuts, both made it almost impossible for pharmaceutical drug manufacturers to launch new revolutionary drugs.
A further explanation for the stagnating business is the adoption of generic medicines introduced by the government from 2007 in order to minimize expenditure on healthcare in Japan. In the last decade, the volume percentage of generic drugs has almost doubled, and still, it is rising. Furthermore, with several pharmaceutical patents coming to an end in the coming years, Japanese corporations are obliged to respond to a changing business situation.
Japan’s pharmaceutical market has a strategic edge in its ability to make strong-quality pharmaceutical drugs and high-quality packaging technology. Japan also has the greatest standard of quality assurance and quality control throughout the globe, as the Japanese pharmaceutical market aims to enhance the quality of pharmaceutical products across the globe.
Nevertheless, Japan’s pharmaceutical market remains third largest market, behind the United States and China. Although Japan’s industry is undergoing change, it provides a range of prospects and growth potential. Aging population and rising life expectancy have contributed to a strong demand for treatment which would be a major driver of potential trends in the pharmaceutical industry in the country over the forecast period.
Prescription Drugs segment Holds the Largest Share and Expected to do Same in the Forecast Period
Japan’s Prescription Drugs segment is expected to constitute the largest proportion in the forecast period. Prescription medications account for more than 80% of the market.
The industry drivers for this field are technical advances, growing geriatric populace, rising prevalence of chronic diseases such as cardiovascular disease, cancer, autoimmune disease, and new product innovations are also accountable for this rising trend. Cardiovascular disease and other chronic diseases are increasing in Japan, they are not only impacting the standard of living but also hindering economic development.
Rising cases of chronic diseases would lead to a rise in the use of prescription drugs that will accelerate demand growth in the country during the forecast period, along with an improvement in per capita healthcare expenditure in the country which is also anticipated to further boost growth during the forecast period.
The Japanese pharmaceutical market is highly competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country.
Some of the Key companies which are currently dominating the market are Takeda Pharmaceutical Company Limited, Pfizer Inc., Chugai Pharmaceutical Co., Ltd., Merck & Co., Inc., and Daiichi Sankyo Company, Limited
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.1.1 Healthcare Expenditure
4.1.2 Pharmaceutical Imports and Exports
4.1.3 Epidemiology Data For key Diseases
4.1.4 Regulatory Landscape/Regulatory Bodies
4.1.5 Licensing and Market Authorization
4.1.6 Pipeline Analysis
22.214.171.124 By Phase
126.96.36.199 By Sponsor
188.8.131.52 By Disease
4.1.7 Statically Overview
184.108.40.206 Number of Hospitals
220.127.116.11 Employment in the Pharmaceutical Sector
18.104.22.168 R&D Expenditure
4.1.8 Ease of Doing Business
4.2 Market Drivers
4.2.1 Rising Geriatric Population
4.2.2 Rising Incidence of Chronic Disease such as CVD and Diabetes
4.3 Market Restraints
4.3.1 Stringent Regulatory Scenario
4.4 Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Therapeutic Category
5.1.2 Blood and Blood Forming Organs
5.1.3 Cardiovascular System
5.1.5 Genito Urinary System
5.1.6 Respiratory System
5.1.7 Sensory Organs
5.2 By Prescription Type
5.2.1 Prescription Drugs (Rx)
5.2.2 OTC Drugs
6 COMPETITIVE LANDSCAPE & COMPANY PROFILES
6.1 Company Profile
6.1.1 Takeda Pharmaceutical Company Limited
6.1.2 Pfizer Inc.
6.1.3 Chugai Pharmaceutical Co., Ltd.
6.1.4 Merck & Co., Inc.
6.1.5 Daiichi Sankyo Company, Limited
6.1.6 Bayer AG
6.1.7 GlaxoSmithKline plc
6.1.8 Eli Lilly and Company
6.1.9 Novartis International AG
6.1.10 Sanofi S.A.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/gchjk5
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