Japan has one of the most advanced research and development facilities across the world contributing significantly to the development of healthcare infrastructure. Japan has opened its pharmaceutical market for foreign trade leading to higher input of drugs. Their population is going in downward spiral where number of young people are lesser then geriatric population. In this way, they have high demand for therapeutic products due which their pharmaceutical market is increasing.
Observation shows that Japanese pharmaceuticals market is heavily inclined towards consumption of branded drugs. Due to presence of higher technological capabilities they were able to commercialize innovative drugs. Significant investments were made in research and development segment due to which new products are being made. It promoted the utilization of branded drugs in Japanese market. Presence of universal healthcare system also allowed the patients to include generic drugs in their therapeutic regime. They to invest small out of pocket money while buying branded drugs as rest of the part is covered by the universal healthcare system. Branded drugs market got boost due to regulator's policies but these drugs are quite costly. As a result, stagnant economy is not able to sustain burgeoning financial pressure on healthcare system.
Japanese generic drugs market is largely unchurned due to which it offers significant commercialization opportunities. Both domestic and foreign pharmaceutical companies are expected to take advantage of this scenario. Japanese regulators have developed amenable rules due to which foreign pharmaceutical companies can venture in generic drugs segment. This will increase the competition and further decrease the prices of generic drugs in Japanese market. Moreover, it will build a strong supply chain due to which dearth of generic drugs will not occur in future.
Regulators will also be able to increase their consumption by promoting more numbers of patients opting for the generic drugs. In this way, they will be able to observe decrease in investments in healthcare system. To achieve higher cost savings, more work has yet to be done in coming years.
Prices of both generic and branded drugs are checked by Japanese regulators after every two years. This allows the patients to spend less money for treatment of their diseases in long-term scenario. But it could be observed that patients are not willing to switch to the generic drugs despite lesser cost. Main reason behind this fact is that cost difference between these drugs is not significant. Higher buying power of patients allow them to include costly branded drugs in their daily therapeutic regime. This scenario shows that Japanese regulators have to further decrease the prices of generic drugs in order to offer higher cost arbitrage. They also have to increase the uptake of generic drugs in order to decrease the prevalence of branded drugs as major component of healthcare system. Some of the measures have been implemented but their results are yet to be observed in coming years.
Key Topics Covered:
1. Introduction to Japan Generic Drug Market
2. Attractiveness of Japan Generic Market
3. Scenario of Generic Drugs in Japan
4. Super Generics in Japan
5. Different Parameters for Generic & Branded Drugs in Japan
6. Generic Active Pharmaceutical Ingredients in Japan
7. Health in Japan & Utilization of Generic Drugs
8. Healthcare System & Generic Drugs in Japan
9. Comparison of Generic Drugs in US & Japan
10. Japan Generic Drugs Market Analysis
11. Japan Generic Market Favorable Factors
12. Japan Generics Market Commercialization Challenges
13. Japan Generic Drugs Market Future Prospects
14. Competitive Landscape
- Fuji Pharma
- Meiji Seika Pharma
- Nichi-Iko Pharmaceutical
- Nipro Pharma
- Sawai Pharmaceuticals
- Takeda Pharmaceutical
- Towa Pharmaceutical
For more information visit http://www.researchandmarkets.com/research/qdtndz/japan_generics