Japan Pharmaceuticals Market to Establish Growth with an Impressive CAGR Until FY2027
Enhancing pharmaceutical sector in the country is
driving the growth if Japan Pharmaceuticals Market, FY2017-FY2027.
According to TechSci report on, “Japan Pharmaceuticals
Market
By
Drug Type (Generic Drugs v/s Branded Drugs), By Product Type (Prescription
Drugs v/s Over-The-Counter Drugs), By Application (Cardiovascular,
Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder, Others), By
Distribution Channel (Retail Pharmacy, Hospital Pharmacy, E-Pharmacy), By
Region, Competition Forecast & Opportunities, FY2027”, Japan pharmaceuticals market
has shown promising growth in historical years until FY2020 and is expected to
continue its growth in upcoming forecast years FY2023 to FY2027. Japan pharmaceuticals
market owes its growth to the factors like increasing number of chronic
diseases. Also, the surge in the demand for the cost-effective pharmaceutical
products is also expected to support the growth of the Japan pharmaceuticals
market in the next five years. Additionally, oncology therapies, drugs for
diabetes and immune suppressive agents are also in demand in the Japan
pharmaceutical requirements, the market is actively driven by novel biologics
thereby showing the robust growth of the Japan pharmaceuticals market in the
future five years. The Japan pharmaceuticals are also booming on the account of
government initiatives. For a vey long time, the pharmaceutical sector was
dependent on innovative patented drugs but in the recent trends generics and
biosimilars and increasing thereby substantiating the growth of the Japan pharmaceuticals
market in the forecast period until, 2026.
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Market"
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Japan pharmaceuticals
market is segmented on the basis of drug type, product type, application,
distribution channel, competitional landscape, and regional distribution. Based
on product type, the market is again segmented into prescription drugs, and
over-the-counter drugs. Over the counter drugs are anticipated to hold the
largest revenue shares of the market and assert its dominance over the market
segment in the upcoming five years on the account of surging demand for the
biosimilars, and generic drugs. Moreover, purchasing over the counter drugs is easier and more accessible for the
consumers. No prescriptions are required for the purchase of the over the
counter drugs, thus driving the growth of the Japan pharmaceutical market in
the future five years. Prescription drugs are also expected to register
significant growth in the next five years on the account of surging demand for
the nuclear medicine, genomic medicine, and precise medicine. Furthermore, increased
government funding and private investment are supporting the growth of the
Japan pharmaceuticals market in the future five years.
The Japan pharmaceuticals
market is growing along with the developing and evolving market players like Takeda
Pharmaceutical Company Limited, Chugai Pharmaceutical Co., Ltd. (Roche), Sawai
Pharmaceutical Co. Ltd., Daiichi Sankyo Company, Limited, Astellas Pharma Inc,
Nichi-Iko Pharmaceutical Co Ltd, Towa Pharmaceutical Co. Ltd., Otsuka
Pharmaceutical Co., Ltd., among others. The mentioned market players have major
market revenue shares than the other players existing or entering the market.
Major market players are actively dedicated in the research and development of
the advanced products such that the consumer’s demand could be fulfilled.
Consistent research ensures the future launches for the better products and services.
With rapidly surging demand for the advanced products, the new market entrants
would be able to establish their brand and thus their market-place. Other
strategies include collaborations and partnerships with the pre-existing market
players or the research institutes such that government funding can be availed
for the product development.
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“Japan healthcare
industry is currently struggling with the high national debt due to healthcare
services of the country. Latest technologies and extensive research over the
pharmaceutical products are also substantiating the growth of the Japan
pharmaceutical market. Pharmaceutical companies have succeeded in increasing
their presence due to the government actions to support the use of biosimilars.
Product development with the branded drug components to make generic drugs to
decrease the healthcare cost in the country and decrease the national debt, is
also supporting the growth of the Japan pharmaceuticals market. Increased
medical expenses due to the surging demands from the aging population and
increasing geriatric population is positively affecting the growth of the Japan
pharmaceuticals market in the future five years. New market players are advised
to invest in the research and technological advancements to manufacture the pharmaceuticals
such that the market growth can be established,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Japan Pharmaceuticals
Market By Drug Type (Generic Drugs v/s Branded Drugs), By Product Type
(Prescription Drugs v/s Over-The-Counter Drugs), By Application
(Cardiovascular, Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder,
Others), By Distribution Channel (Retail Pharmacy, Hospital Pharmacy,
E-Pharmacy), By Region, Competition Forecast & Opportunities, FY2027” has evaluated the
future growth potential of Japan pharmaceuticals market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Japan pharmaceuticals market.
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