Boston, MA -- (SBWIRE) -- 06/04/2014 -- BMI View: The Japanese government's push to increase generic drug use will benefit generic drug manufacturers, particularly local firms. However, despite this support, the rate of generic drug uptake will remain relatively low. As a result our forecasts for Japan's generic drug market are unchanged. In its FY2014 (April 2014 - March 2015) medical fee revision briefing, Japan's Ministry of Health, Labour and Welfare (MHLW) announced changes to its strategy for generic drug promotion, through which it seeks to increase generic drug use in the country.

Due to a very strong patented drugs market - accounting for 83% of total drug expenditure - drug companies will need to maximise on this current preference for branded drugs, as government-sector policy becomes increasingly cost-conscious and global generic drug firms begin to take an interest in the Japanese market. One of the threats that BMI has identified in this market is the proposal to link original drug prices and market shares to generic equivalents in order to stimulate price competition to potentially reduce the value of patented as well as overall drug markets.

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Headline Expenditure Projections

- Pharmaceuticals: JPY10,992.8bn (USD112.62bn) in 2013 to JPY11,251.74bn (USD113.65bn) in 2014; +2.4% in local currency terms and 0.9% in US dollar terms. Forecast marginally upgraded from Q214 due to an increase in medical fees, growth in US terms slightly up due to currency fluctuations.
- Healthcare: JPY44,572.63bn (USD456.65bn) in 2013 to JPY46,189.60bn (USD466.56bn) in 2014; +3.6% in local currency terms and 2.2% in US dollar terms. Forecast is higher than in Q214, US growth is now up due to currency fluctuations.

Risk/Reward Rating

Japan's Pharmaceutical Risk/Reward Rating (RRR) score for Q314 increased to 78.1 out of the maximum 100 in our newly improved RRR system. This high score makes Japan the most attractive country in comparison with the other 18 key Asia Pacific markets, followed by South Korea...

The Japan Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Japan Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Japanese pharmaceutical and healthcare industry.

Key Benefits

- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Japan to test other views - a key input for successful budgeting and strategic business planning in the Japanese pharmaceutical and healthcare market.

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