Generic drugs are pharmaceutical drugs with similar chemical makeup of a branded drug. Generic drugs are cheaper in Japan and equivalent to branded drugs in dosage, strength, route of administration, quality, performance, and application. Generic drugs are subjected to government regulations of Japan; the Japanese Government has observed the growth of the generic drug market as imperative to Japans long-term economic health.
The major factors that contribute to the growth of the Japan generic drugs market include increasing prevalence of chronic diseases, diabetes & cardiovascular diseases, rising costs of branded medicines, growth in geriatric population, increasing healthcare expenditure, and high demand for generic medicines. However, issues such as the consistency and stability of generic drugs in Japan and lower reimbursement fees are expected to restrain the market development. Development of reliable & stable new product launch, support from the government, and adoption of mergers & acquisition strategies to launch new products by key vendors contribute to significant demand for generic drugs in the near future.
The Japan generic drugs market is segmented on the basis of product type, application, and distribution channel. On the basis of product type, the market is segmented into generic prescription medicines, super generics, and biosimilars. Based on application the market is divided into cardiovascular products, anti-infective drugs, anti-arthritis drugs, central nervous system drugs, anti-cancer drugs, respiratory products, and others. On the basis of distribution channel, the market is segmented into hospitals, pharmacies, private clinics, drug stores, retail pharmacies, and others.
The key players that operate in this market include Teva Pharmaceutical Industries Ltd., Nichi-Iko Pharmaceutical Co., Ltd., Sawai Pharmaceuticals Co., Ltd., NIPRO Medical Corporation, Meiji Seika Pharma Co., Ltd., Towa Pharmaceutical Co., Ltd., Hikari Pharmaceutical Co., Ltd., Fuji Pharma Co., Ltd., Mylan N.V., and GlaxoSmithKline Plc.
- The study provides an in-depth analysis of the Japan generic drugs market with current trends and future estimations to elucidate imminent investment pockets.
- The report provides information about the current and upcoming trends in the Japan generic drugs market from 2016 to 2023, which helps determine prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the Japan generic drugs market has been provided.
- Identification of factors that are instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market have been provided.
- Key market players within the market have been profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the Japan generic drugs market.
Japan Generic Drugs Market Key Segments:
By Product Type
- Generic Prescription Medicines
- Super Generics
- Cardiovascular Products
- Anti-Infective Drugs
- Anti-Arthritis Drugs
- Central Nervous System Drugs
- Anti-Cancer Drug
- Respiratory Products
By Distribution Channel
- Private Clinics
- Drug Stores
- Retail Pharmacies