The Japanese Pharmaceutical Market Outlook to 2014: Policy environment, market structure, competitive landscape, growth opportunities
Japan, the second single largest drug market in the world (historically known to be a land of innovation) is a leading nation in terms of scientific research, technology, machinery and medical research. Japan has been an industrially active nation ever since it adopted Western technology and gained industrial supremacy in the early years of the 20th century.
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The Japanese pharmaceutical market was valued at $68.6bn in 2008, registering sales growth of 17.2% over 2007, and is forecast to grow at a CAGR of 4.8% during 2008-14. Targeted therapies and antineoplastics and immunomodulating agents are expected to have the highest growth, with CAGRs of 19.8% and 10.1%, respectively, over the forecast period.
The leading brands in the Japanese pharmaceutical market were predominantly cardiovascular drugs (with as many as six products in top 10). The top 10 products in this market constituted a very small portion of the market, with only 11.4% share in 2008.
The market includes both domestic manufacturers and large pharmaceutical companies, with the latter having a direct base in the country through R&D and marketing. In terms of domestic sales of prescription drugs, foreign players have boosted their market share with Pfizer, Roche, Novartis and GSK, making it to the top 10 players list.
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