Enhancing pharmaceutical sector in the country is driving the growth of Japan Pharmaceuticals Market, FY2017-FY2027.
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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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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