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Generic drugs are produced and distributed without patent protection and marketed after the expiry date of patent or other rights. Usually, generic drugs are as effective as their master drugs and become available to patients at a very low cost. Due to their low price nature, generic drugs are being used across the world and the governments are devising strategies to make them more accessible to society.
Japan is one of the leading pharmaceutical markets in the world; however, the share of generics has been low. Public perception is the key factor for such a low share. However, the government has played a vital role in promoting generic drugs across the country by spreading awareness regarding benefits and quality. Good promotional activities have largely benefitted Japanese generics market during the past few years and with total size of around US$ 8 Billion in 2010, the market is poised to grow at a fast pace. The patent expiry of branded drugs and active ingredients will act as growth drivers for the market in future and the government support will strengthen market potential.
Currently, the Japanese generics market is characterized by the presence of major global pharmaceutical players. These players have been devising strategies and making alliances with domestic manufacturers to enlarge their market share. Companies, such as Pfizer, Merck, Sandoz etc. are likely to play a prominent role in expanding generic drugs market in Japan in near future. The role of NHI pharmacies and DPC hospitals is also being valued as exceptional in the positive industry developments. Focus on strong marketing and cardiovascular generics are the trends positively affecting market in an effective manner.
The report “Japanese Generic Market Forecast to 2013” provides an in-depth research and prudent analysis on the generic market in Japan. It analyzes the current trends prevailing in the generic market and investigates their impact on the future shape of the industry. The report also covers the performance of key players in the Japanese generic markets. Moreover, based on various present and future indicators, the future scenario of the market has been analyzed and presented in the report.