According to a new report from CPhI, 2018 will be a transformative year for the pharmaceutical market in Japan. The report was release ahead of CPhI Japan, which is set to take place on April 18–20, 2018 at the Big Sight Exhibition Centre, Tokyo, Japan.
Growth is expected for the generic drugs and biosimilars sectors, driven by cost pressures on healthcare systems. In a survey, 59% of domestic respondents believe that biosimilars will be the fastest growing sector. International companies are looking for opportunities to penetrate the local pharmaceutical market, but most believe that having a Japanese partner is key to overcoming obstacles such as brand loyalty and the lack of local knowledge. There could even be acquisitions in the medium term.
In an inaugural study of the perceptions of 500 pharmaceutical companies, Japan was among the top three countries in terms of reputation ranking. Japan was seen to have a higher growth potential than most European countries in the league, falling third behind Germany (first) and the United States (second). Japan also scored positively in “overall competitiveness.”
Read More: http://www.pharmtech.com/cphi-report-predicts-transformative-year-japan-2018