Pharmaceuticals - Japan
- Japan
- The revenue in the Pharmaceuticals market in Japan is estimated to reach ¥€43.38bn in 2024.
- The largest market in the country is Oncology Drugs, projected to have a market volume of ¥€7.44bn in 2024.
- It is expected that the revenue will showcase an annual growth rate (CAGR 2024-2029) of 4.16%, leading to a market volume of ¥€53.18bn by 2029.
- When compared globally, United States is anticipated to generate the highest revenue, amounting to €578.50bn in 2024.
- Japan's pharmaceutical market is experiencing a surge in demand for innovative drugs driven by an aging population and increasing prevalence of chronic diseases.
Key regions: United States, China, Germany, Japan, Europe
Analyst Opinion
The Pharmaceuticals market in Japan has been evolving in various ways, with a few notable trends that have emerged over the years.
Customer preferences: Japanese customers have a high demand for innovative and high-quality pharmaceutical products. They are willing to pay a premium price for products that are effective and have minimal side effects. Japanese customers also prefer products that are easy to use and have a high level of convenience.
Trends in the market: One of the notable trends in the Pharmaceuticals market in Japan is the increasing demand for generic drugs. The Japanese government has been promoting the use of generic drugs as a way to reduce healthcare costs. This has led to an increase in the number of generic drugs available in the market, and their market share has been steadily increasing. Another trend is the growing importance of biologics in the market. Biologics are becoming increasingly popular due to their high efficacy and specificity. The Japanese government has been promoting the development of biologics as a way to boost the competitiveness of the Japanese pharmaceutical industry.
Local special circumstances: Japan has a rapidly aging population, and this has created a unique set of challenges for the pharmaceutical industry. The elderly population in Japan has a higher incidence of chronic diseases such as diabetes, hypertension, and cancer. This has created a high demand for pharmaceutical products that can treat these conditions effectively. The Japanese government has also been promoting the use of telemedicine as a way to improve healthcare access for the elderly population.
Underlying macroeconomic factors: The Japanese economy has been experiencing a period of slow growth, which has had an impact on the pharmaceutical industry. The government has been implementing various policies to boost economic growth, including promoting the development of new industries such as healthcare and biotechnology. The Japanese government has also been promoting the development of new drugs and medical devices as a way to boost the competitiveness of the Japanese pharmaceutical industry. In conclusion, the Pharmaceuticals market in Japan has been evolving in response to various factors including customer preferences, local special circumstances, and underlying macroeconomic factors. The increasing demand for generic drugs, the growing importance of biologics, and the unique challenges posed by Japan's aging population are some of the notable trends in the market. The Japanese government's policies to promote the development of new industries and boost economic growth have also had an impact on the pharmaceutical industry.
Methodology
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.Visión general
- Revenue
- Analyst Opinion
- Next generation therapy
- Global Comparison
- Methodology
- Key Market Indicators