The East Asian Pharmaceutical Market Will Reach $121.5bn in 2020

Friday 29 April 2016, Amsterdam

A new report, now available on ASDReports, predicts that the East Asian pharmaceutical market will reach $121.5bn in 2020. This forecast and others appear in East Asian Pharmaceutical Market 2016-2026: Prospects for Growth Among Drug Classes in Japan, Taiwan and Korea, published in March 2016.

The East Asian Pharmaceutical Market 2016-2026: Prospects for Growth Among Drug Classes in Japan, Taiwan and Korea report examines the current and future trends in the growing East Asian pharmaceutical market. Among the issues affecting the region is the rapid ageing of the population in each country. An ageing population results in increased demands upon healthcare systems due to higher rates of age-related and chronic diseases. The challenge for pharmaceutical companies is to take advantage of the increased market demand, while negotiating the price restrictions and regulations enforced by national governments. The rewards for companies successfully able to navigate this environment could be significant.

In this report, we examine in detail some of the main national markets in the region, and in each we analyse the market for the major drug types, including generics, originator drugs, OTC drugs and biosimilars. Using our experience and market knowledge, as well as a wide variety of sources, forecasts have been built for both national markets and drug types, accompanied by text giving a thorough explanation of events thought to shape the market currently and in the future. Qualitative analysis of each country’s market is given, taking into account local government policy, politics and economic conditions. Also included is analysis of a number of leading domestic companies in Japan, Taiwan and Korea.

Also included is analysis of some the leading domestic players in each country in the East Asian pharmaceutical market. Recent financial performance is analysed, along with an analysis of news that may influence the course of the company.

Jack Evans, a pharmaceutical and medical devices industry analyst, said: “The East Asian pharmaceutical market will undergo rapid change over the next ten years, driven largely by the rapidly ageing populations of the countries included. Ageing will result in expanded demand for pharmaceuticals, but will also place further pressure on the healthcare budgets of each country. The Japanese government has enacted a range of reforms to reduce the impact of its ageing population, centred on increasing the historically low penetration of generic drugs in the market. The Taiwanese healthcare system faces its own challenges, with issues around drug pricing and sourcing among them. With a new government and renewed focus on healthcare as one of the country’s important industries, there is renewed interest in Taiwan’s pharmaceutical market. Korea has made progress in managing the impacts of its ageing population, and is making progress in encouraging the domestic development of new pharmaceutical products to be sold on the world stage. While each country faces a raft of challenges, growth in the region is predicted to continue across the next decade”