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A new report that has been published prior to CPhI Japan has stated that there will be rapid growth in the Japanese pharma market during 2019.
A new report that has been published prior to CPhI Japan has stated that there will be rapid growth in the Japanese pharma market during 2019, as reported by the CPhI Japan event organizers in a Feb. 21, 2019 press release.
The report is based on the views of industry executives who have predicted that in 2019 Japan will be the second fastest growing mature market for solid dose drugs. Additionally, the executives anticipate that the Japanese Biologics sector will grow quickly, with only the United States expected to experience more rapid market expansion.
Laura Murina, brand manager CPhI Japan, said, “Japan’s pharmaceutical industry has long centered on strong innovation and patented drugs, but we are now observing a dramatic increase in generics and biosimilars in the market.”
According to the report, international interest from Japanese pharma companies is on the rise, which is believed to be driven by deregulation opening-up accelerated approval pathways in addition to the growth in the generics market. The report concludes that growth is possible across numerous product classes in Japan, however, long-term successes that benefit from regulatory changes, aging demographics, and innovative R&D are difficult to single out.
CPhI Japan will take place at the Big Sight Exhibition Centre, Tokyo, Japan, between Mar. 18–20, 2019. The organizers anticipate more than 20,000 executives, 550 exhibitors, and 9000 pharma professionals will attend the conference.
Source: CPhI Online