Pharmaceuticals & Healthcare Asia Pacific Q214 Round-Up
BMI View: The fragmented nature of the Asia Pacific region will continue to provide unequal commercial opportunities for pharmaceutical firms looking to invest in the region. Key drivers of growth in the region include ageing populations across many Asia Pacific countries, an expanding and increasingly affluent middle-class and various governments' commitment to improving healthcare access.
The Asia Pacific regional pharmaceutical market is expanding rapidly due to a rising, affluent, middle-class, and governments' push for healthcare reforms. Combined sales of prescription drugs and over-the-counter (OTC) medicines are forecast to increase from USD276.6bn in 2013 to USD384.7bn in 2018, representing a five-year compound annual growth (CAGR) of 7.0%. It is worth noting that by 2018, overall pharmaceutical sales in Asia Pacific is expected to exceed overall drug sales in Western Europe and the US combined. The sub-region of Greater China consisting of China, Hong Kong, Macau and Taiwan (+11.7% CAGR) will expand fastest, followed by South Asia (Bangladesh, India, Pakistan and Sri Lanka (+10.5%)), South East Asia (Japan, South Korea, Australia and New Zealand (+9.4%)) and Developed Asia Pacific: Australia, New Zealand, South Korea and Japan (+2.3%).
Key Developments In Q214
|Strong Growth Forecast|
|Asia Pacific Pharmaceutical Market (USDbn)|