Japan Generic Drug Market Size to Expand at a CAGR of 10% during 2019-2024

1. Japan Generic Drug Market Research Report and Forecast 2024 Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

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3. Report Description and Highlights Report Description Japan Generic Drug Market Overview: According to the latest report by IMARC Group, titled “Japan Generic Drug Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Japan generic drug market reached a value of US$ 13.4 Billion in 2018, growing at a CAGR of nearly 9% during 2011-2018. Although Japan is one of the largest pharmaceutical markets across the globe, the generic penetration rate in the country is lower as compared to other developed regions such the US and Europe. The country offers universal health coverage to its citizens under the state-funded National Health Insurance system. In recent years, the aging population coupled with a shrinking workforce and taxation base has increased the national healthcare spending. This has encouraged the Government to promote the substitution of branded drugs with their generic variants. Japan Generic Drug Market Trends Both physicians and patients in Japan prefer branded drugs owing to the perceived inferiority of generics and a lack of incentives for their substitution. In line with this, the Ministry of Finance in Japan has introduced modifications in the prescription form as well as fee changes for pharmacists and prescribers.

4. Report Description and Highlights Report Description 186.5 181.2 120.2125.5130.8136.1141.4146.7152.0157.3 175.9 170.6 160 180 165.3 160.0 160 140 140 120 In Billion US$ In Billion US$ 120 100 100 80 80 60 60 40 40 20 20 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 These initiatives have led to an increase in the sales of generic drugs in Japan. Looking forward, the market is projected to reach a value of US$ 23.5 Billion by 2024, exhibiting a CAGR of around 10% during the next five years. Request for a free sample report: https://www.imarcgroup.com/japan-generic-drug- market/requestsample

5. Report Description and Highlights Report Description Apart from this, the Japanese Government is aiming to reduce brand loyalty among physicians by initiating several administrative and educational programs and by revising the reimbursement pricing for regular pharmaceutical products. In addition, the Ministry of Health, Labor and Welfare (MHLW) has imposed measures to limit healthcare expenditure, such as the “Z2 rule” which revises the prices of targeted mature originator drugs annually, until generics account for around 60% of the total market volume. Moreover, the country has become more welcome to international generic manufacturers to increase competitiveness in the industry and further drive down prices. Several Japanese pharmaceutical companies are outsourcing the manufacturing of generics to countries such as India, to lower the overall production costs. For more information, click here: https://www.imarcgroup.com/japan-generic-drug-market Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players. • • • Teva Pharmaceutical Ltd Sawai Pharmaceutical Co.Ltd. Nichi-Iko Pharmaceutical Co., Ltd

6. Report Description and Highlights Report Description • • • • • • • Pfizer Japan Inc. Meiji Seika Pharma Towa Pharmaceutical Nipro Pharma Corporation Fuji Pharma Co., Ltd., Daiichi Sankyo Espha Co., Ltd. Nihon Generic Co. Ltd. Browse Related Report Generic Drug Market Report: https://www.imarcgroup.com/generic-drug-manufacturing-plant HIV Drug Market Report: https://www.imarcgroup.com/hiv-drug-market

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9. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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