Part 6: The Japanese pharmaceuticals market grew faster in 2005 than in any year since 1991. An aging population and greater liberalisation could also make it more attractive to outsiders than ever before.
Japan is the world’s second-largest pharmaceuticals market after the United States. Sales have grown quite sluggishly from the early 2000s but demand for new medicines is likely to rise, as the population ages. More importantly, the market is opening up, with the separation of marketing from manufacturing and a more efficient system for approving new drug applications.
The Japanese government is also keen to encourage greater use of generics. All these changes herald increasing opportunities for outsiders.
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