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BMI's Executive Summary[TOP] Valued at an impressive US$64bn, Japan has the world's second largest pharmaceutical market and, accordingly, is of great interest to drugmakers. However, there exist numerous challenges to operating in the country, including sluggish growth, delays in the introduction of innovative medicines, severe downward pressure on prices and reimbursement, and a culture of over-prescribing. In response to the farreaching April 2006 price cuts, the Japan Pharmaceutical Manufacturers Association (JPMA) proposed a new drug pricing system in July 2007 for the National Health Insurance (NHI) price list, in order to strengthen international competitiveness and establish appropriate drug prices in the market, although this has yet to have an impact on the market. Like many other industries in the country, the pharmaceuticals sector poses substantial barriers to entry for foreign firms, so multinationals frequently form joint-ventures with local players. Importantly, the market is dynamic – as illustrated by Japan's top spot in the BMI's adjusted Business Environment Ranking table - and reforms to pricing transparency and the encouragement of generic drugs will provide upside to enlightened players. Consequently, BMI marginally upgraded its projection for Japan's generic drug market in July 2007 after a basket of medicines lost patent protection and public knowledge of the benefit of this type of pharmaceutical improved. Moreover, the spread of flat-sum reimbursement schemes, a number of fee changes and increased co-payments for drugs over the past few years have also had an effect. A key change in 2006 was the introduction of a tick box on script forms, allowing doctors to indicate their approval of substitution. BMI fully expects the uptake of generics in Japan to continue, with the value of the sub-sector reaching US$10.36bn in 2013, or 14.7% of the total pharmaceutical market. While Japan's overall pharmaceutical market is stagnating, sales of antidepressants are increasingly rapidly as the stigma attached to this class of drugs, and mental health in general, decreases. A surge in advertising by pharmaceutical firms beginning in the late 1990s is partly responsible, as well as the cultural shift during the recent economic downturn. BMI expects this strong growth to continue as suicide rates continue to rise and the phenomenon of hikikomori or acute social withdrawal increases. |
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Contents[TOP] Chapter 1 - Executive SummaryJapan Pharmaceuticals & Healthcare Industry SWOT Chapter 2 - Business Environment RankingBusiness Environment Ranking Economics - Long-Term Risk Politics - Long-Term Risk Regulatory Barriers Domestic Sector Threat Market Growth Potential Market Size Ranking Chapter 3 - Japan: Market SummaryChapter 4 - Regulatory RegimeIntellectual Property Developments Intellectual Property Disputes Pricing And Reimbursement Issues Table: Reimbursement Categories And Rates Changes To Government Sector Policy Table: Concerns of Pharmaceutical Associations International Reaction Other Regulatory Developments Table: Japan - FY05-06 Regulatory Performance Chapter 5 - Industry Trends & DevelopmentsHealthcare Sector Epidemiological Trends Healthcare Sector Finance Issues Pharmaceutical Industry Trends Table: Japan - Recent Pharmaceutical Industry M&A Table: Share Repurchasing At The Leading Japanese Drugmakers Domestic Company Activity Table: Timeline- Eisai's International Expansion Table: Chugai: Oncology Product Pipeline (As Of July 31, 2006) Generics Sector Foreign Generic Sector Table: Timeline: Indian Manufacturers In Japan, 2005-2006 Multinational Sector Developments Chapter 6 - Industry Forecast ScenarioOverall Market Forecast Table: Japanese Ethical Market: Leading Therapeutic Classes (FY2005-06) Table: Japan Drug Market Indicators Key Growth Factors - Industry Key Growth Factors - Macroeconomic Table: Japan - Macroeconomic Forecasts Prescription Market Forecast Table: Prescription Drug Market Indicators Cardiovascular Segment Oncology Segment OTC Market Forecast Table: OTC Market Indicators Generics Market Forecast Table: Generics Market Trends Branded Market Forecast Table: Branded market indicators Export/Import Forecasts Table: Export/Import Trends Healthcare Data & Forecasts Table: Hospital Data Trends Table: Healthcare Trends Key Risks To BMI's Forecast Scenario Chapter 7 - Competitive LandscapeOverview Table: Japanese Ethical Market: Sales Value (FY2005-06) Chapter 8 - Company ProfilesLeading Foreign Manufacturers Pfizer Sanofi-Aventis Merck & Co (Banyu) Novartis GlaxoSmithKline (GSK) AstraZeneca Chapter 9 - Company Profiles: Indigenous ManufacturersTakeda Astellas Sawai Pharmaceutical Chapter 10 - BMI Forecast ModellingHow We Generate Our Industry Forecasts Technical Process Pharmaceutical Industry Sources
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Competitive Landscape for Asia Pharmaceuticals and Healthcare: Sample of Companies Ranked[TOP] Cross-border analysis of regulatory systems comparing the patenting environment, summarising regional pricing and reimbursement factors and monitoring the growth of the Pharmaceuticals sector across the region. Company SWOTs cover leading multinational and national drug companies operating in each market. |
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Network of Asian Pharmaceuticals & Healthcare Sources[TOP] BMI's Asian Pharmaceuticals Healthcare Reports are based on an extensive network of multilateral organisations, government departments, pharmaceuticals & healthcare industry associations, chambers of commerce and company reports. Information sources include: |
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