The world continues to witness significant shift in the global pharmaceutical market landscape, with Asia-Pacific emerging as the fastest growing pharmaceutical market over the recent past. With low costs and favorable regulatory environment, the region has seen significant developments in the field of contract manufacturing, particularly in generics and APIs. Several technological advancements have also boosted the R&D activities in the region, helping the market to grow at double digit growth rate in recent years. The size of the Asia-Pacific pharma market is estimated at around US$ 187 Billion for 2009.
According to our latest research report “Asia Pacific Pharma Sector Analysis”, the future of pharma industry in the Asia-Pacific region remains bright, and the industry is projected to grow at a CAGR of around 12.6% during 2010-2012. The growth will mainly be driven by low cost factors, changing regulatory environment and increased private sector investments in the industry. Currently, the market is characterized by high growth of generics, and the same trend will continue in near future also.
We have found that the region will become the global API production hub in next few years, backed by low cost manufacturing, favorable regulatory environment and current advancements in the production technology. Also, the market will show significant changes in terms of sales and marketing model, which will be changed into tender-based model, favoring the sales of low cost drugs, and thus resulting in intense competition among key players.
Our research reveals that the pharma sales are growing rapidly in countries like India, China, Malaysia, South Korea and Indonesia. This growth is mainly attributed to the increase in disposable income along with the emergence of several health insurance schemes, which are giving a boost to the sales of branded drugs. Besides this, the intense competition among key players in the region has been easing the availability of low cost drugs, thus providing a further boost to the market growth.
Our report provides an extensive and objective analysis on the Asia-Pacific pharma market. It provides analytical and statistical information on regional level markets, including their market size and segmentation. It also features an analysis on the future directions, supplemented with various facts and figures. Thus, the report serves as a useful guide for pharmaceutical companies, government officials, consultants and investors who are planning to enter the Asia-Pacific pharma market.
