Boston, MA -- (SBWIRE) -- 06/13/2013 -- GBI Research, the leading business intelligence provider, has released its latest research "Japan Pharmaceutical Market Outlook - Deregulation and More Efficient New Drug Approval Process Attract Foreign Investment and Improve the Competitiveness of Japanese Players". Japan's pharmaceutical industry is the second largest in the world, worth $89 billion in 2011 or 10% of the world market. The industry grew from $62.8 billion in 2005 to its current value at a Compound Annual Growth Rate (CAGR) of 5.1%.

Growth of the domestic pharmaceutical industry has recently been hampered by biennial drug price reductions, which are expected to continue as the government attempts to cut healthcare expenditure. Price reviews are also constrained by a national health budget, which limits the increase of drug prices. In addition, the gradual increase in market share and competition from generics has depressed market value and will continue to do so as government policy promotes their use.

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However, easing of regulatory guidelines, an aging population and a strong product pipeline will provide a strong impetus for growth in the pharmaceutical industry. Although the increasing market share of generics may dampen market value, this represents a great deal of opportunity for generic manufacturers.

Historically, the Japanese pharmaceutical market has favored domestic companies. However, since the 1990s, deregulation has promoted investment from abroad and increased the presence of foreign firms.

Scope

- The report assesses characteristics of the Japanese pharmaceutical market, detailing recent regulatory changes, supply chain and competitive landscape. It also draws on macroeconomic and demographic factors and the implications on healthcare policy.
- A macroeconomic analysis of Japan, focusing on key economic parameters such as Gross Domestic Product (GDP), inflation and unemployment. The implications of the global financial crisis in 2008 and natural disaster in 2011 are considered.
- The changing demographic landscape and implications on health economics and policy-making.
- The industry characteristics section presents an overview of pricing policies, the regulatory landscape, new drug approval process and pharmaceutical supply chain in Japan. Notable changes that have occurred over recent years, in an attempt to improve the regulatory system and reduce drug review times, are highlighted.
- The report then analyzes the competitive landscape in Japan, including the major domestic companies and M&A. The discussed regulatory reforms and cooperation between government and industry have improved the international competitiveness of Japan's pharmaceutical market. Coupled with a number of mergers, the industry now consists of well-known multinationals. The competitive landscape section confirms the top five Japanese pharmaceutical companies by revenue, according to GBI Research data.

Companies Mentioned in this Report: Takeda Pharmaceutical Ltd., Otsuka Holdings Ltd., Astellas Pharma Inc., Daiichi Sankyo Ltd., Eisia Ltd.

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