Japanese generic drug market poised for rapid growth, reaching $10 billion by 2013
The generic drugs market in Japan has been witnessing positive developments for the past few years. All the industry participants have been actively promoting the use of generic drugs across the country, according to the latest report from RNCOS, titled Japanese Generic Market Forecast to 2013.
Due to such positive developments, the generics market in Japan reached $7.3 billion in 2009 and the government’s support has been a key factor for this growth. In future, the expiry of branded drugs and active ingredients is likely to back market growth. Furthermore, expanding at a compound annual growth rate (CAGR) of around 8% during 2009-2013 period, the total market will reach a value of $10 billion by 2013.
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