GlobalData Plc

The pharmaceutical market in Japan is set to rise from around $70 billion in 2016 to $72 billion by 2021, representing a low compound annual growth rate of 0.3%, according to GlobalData, a recognized leader in providing business information and analytics.

The company’s latest report states that the Japanese healthcare market is driven primarily by high levels of affordability and access to healthcare facilities. The increasing burden of the elderly population and well-defined regulatory guidelines will drive the growth of the pharmaceutical market in the future. Despite this, growth will be restrained by the patent cliff anticipated in the coming years for high-turnover drugs, focus on generic substitution and annual price cuts.

The upcoming expiry of key drug patents is set to pressurize the revenues of some major Japanese pharmaceutical companies. For example, Daiichi Sankyo lost its patents on the Olmesartan family of antihypertensive products in the US in late 2016, and expiry will follow in the EU and Japan in 2017. These products accounted for around 28.8% of consolidated revenue in the fiscal year ended March 2016.

In order to reduce the healthcare expenditure burden, the Japanese government is promoting the use of generics as a cost-containment tool. From December 2016, the Ministry of Health, Labor and Welfare will review drug prices annually instead of once every two years, based on the difference between the actual market price and the official price.

Although increasing generic substitution and yearly pricing reviews are likely to restrict growth in the Japanese pharmaceutical market in the future, the government is also working to reduce long regulatory processes faced by pharmaceutical industry in order to expedite the approval of products and improve access to novel therapeutics. This will not only attract foreign companies but also positively influence the healthcare market.

New guidelines allow foreign pharmaceutical companies to use data from Phase III clinical trials performed in regions other than Japan, which has reduced the length of the review process for new drug applications from three years to one.

– Information based on GlobalData’s report: CountryFocus: Healthcare, Regulatory and Reimbursement Landscape –Japan.

Related Intelligence

Want more Insight like this?

Our interactive subscription platform has the most comprehensive data and analysis in your industry.

Request a Demo

Related Consulting

How can we help your business?

Our consultants are skilled in every specialist market niche to deliver solutions specifically designed for your individual requirements.

Request a Callback

    Press Release Healthcare

    Majority of oncology clinical trials in China failed to meet enrolment targets

    The majority of oncology clinical trials in China that had a start date between 1 January 2012 and 31 December 2017 failed to meet the planned enrolment targets, according to GlobalData, a leading data and analytics company. The company identified and analyzed enrollment efficiencies of 324 clinical trials during the period and found that on...

    Press Release Healthcare

    Need for supportive care in oncology will increase during the next decade

    The need for effective supportive care in oncology will increase in the next decade as patients continue to live longer and cancer progresses to become more like a chronic disease. This includes the need for chemotherapy-related conditions, as chemotherapy will remain the backbone of cancer therapy for the foreseeable future, observes GlobalData, a leading data and analytics company.

    Press Release Healthcare

    World Cancer Day: What will 2018 mean for cancer research and treatment?

    The theme of this year’s World Cancer Day held on 4th February of “We can. I can.” aimed to reinforce the public message that all individuals and groups can play their part in reducing the global burden of cancer. Indeed in recent years many events have involved collaborations between traditional drug developers, cancer treatment professionals and those of varying disciplines. Examples include the IBM Watson supercomputer which is helping physicians make treatment decisions and the development of other databases such as ASCO’s CancerLinQ which assists oncologists in monitoring and analyzing patient data.

    Press Release Healthcare

    Melanoma sales are projected to rise to $5.5bn in 2026

    The value of the melanoma market was estimated to be $3.3bn across the seven major markets (7MM*) in 2016. This is expected to grow to $5.5bn in 2026, at a Compound Annual Growth Rate (CAGR) of 5.3%, according to GlobalData, a leading data and analytics company.

    Press Release Healthcare

    Global glaucoma market to reach $3.8bn by 2026

    The total glaucoma market was estimated to be $2.6bn across the seven major markets (7MM*) in 2016. This is expected to grow to $3.8bn in 2026, at a Compound Annual Growth Rate (CAGR) of 4.1%, according to GlobalData, a leading data and analytics company.

Media Enquiries

If you are a member of the press or media and require any further information, please get in touch, as we’re very happy to help.

Emailpr@globaldata.com
PhoneEMEA: +44 207 832 4399
PhoneAPAC: +91 40 6616 6809
Onlinecontact online

56% of #consumers are concerned about the impact of diet. Join us for more insight @incosmetics #cosmetics #trends… https://t.co/wJOJOqYIJF