The Outlook for Pharmaceuticals in North East Asia
China’s healthcare provision is somewhat lacking when compared to the other three countries, but it remains one of the fastest growing pharmaceutical markets in the world, in tandem with the country’s rapid economic expansion. The influx of foreign multinationals has offered continued investment, and production plants and R&D facilities are being expanded all the time. Improvements in regulatory practices are making the ability to sell imported products quicker and easier, while the lowering of tariffs on imported goods and an increase in transparency of legislation has made a notoriously hard-to-penetrate market a more attractive proposition for overseas companies. These are positive moves, but concerns remain in key areas such as IP protection.
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Diverse markets, diverse opportunities
Geographically located in North East Asia, these four countries are currently undergoing different phases of development, both in overall terms and, more pertinently, in the growth of their respective pharmaceutical markets.
Japan, South Korea and Taiwan represent highly developed pharmaceutical markets with advanced healthcare systems and high levels of spending, both in the private and public sectors. This has inevitably placed a strain on their respective governments which have in recent years tried to temper escalating spending by introducing various cost containment strategies, including periodical changes to reimbursement prices and the encouragement of generic substitution.
Despite these measures, spending has continued to rise. Key factors are the ageing population and the high healthcare standards that the population has grown to expect. While governments hope to control healthcare costs, the trend suggests health spending will continue to rise in the long run.
Use these original and insightful reports to.
- Assess future market values with our unique and regularly reviewed independent 5-year market forecasts.
- Track the latest developments with the news service that is included for every country.
- Understand the critical issues and drivers which are shaping the market.
- Evaluate the environment for branded and generic operators and stay in touch with the fast growing biologic sector.
- Shape and support business plans and decisions with reliable business data.
- Benchmark key market performance with Espicom’s standardised data.
- Quarterly updated | Now includes news for each market
Explore Comprehensive list of more than 114 Tables & Figures available in the report The Outlook for Pharmaceuticals in North East Asia .
