Japan is the world’s second largest pharmaceutical markets in the world, but due to public perception, the share of generic drugs has remained low in it. However, worried over rising healthcare expenses and high mortality rates, the government has now been playing a vital role in promoting generics. The patent expiry of branded drugs and active ingredients will also act as a strong growth driver for the market in future. According to the findings of our latest report, the generics market in Japan stood at around US$ 9 Billion in 2010. It estimates that the growth in generic drugs will outshine the expansion in overall pharmaceutical market.
According to “Japan Generics Market Analysis”, Japan is expected to be the next generic hub, and cancer related generics exhibit vast potential. The report finds out how vital is the role of National Health Insurance (NHI) pharmacies and Diagnosis Procedure Combination (DPC) hospitals in the industry development. It was observed that the DPC hospitals, in particular, have been growing at a robust rate, promoting generics penetration. We also found that ethical generics hold the majority share in the generic drugs market.
A detailed demographic analysis was carried out in the research that revealed that the population aged 65 years and above accounts for maximum healthcare-related expenditures in Japan, and hence becomes the target population for generics promotion. Further, a meticulous disease and age-wise segmentation has provided the holistic understanding of the healthcare-related demand parameters prevailing in the country.
The government in Japan has taken several initiatives to ensure growth and promotion of generics industry in the country. Recently, special premium-based incentives have been given to pharmacists on generic promotion. In near future, the government plans to bring in more reforms in medical care system. Our research talks about such revisions and reforms briefly to present a balanced outlook of the industry to clients. Analysis of current trends, profiles of key players in the Japanese generic market, and recent developments in the industry have also been included in the comprehensive study.