Winners in Japan's Pharma market, by P Reed Maurer

The difference between winning or losing in Japan’s pharma market has enormous strategic implications for every pharmaceutical company. There are many reasons why winning in Japan must be given a high priority and consistently pursued with a passion, says P Reed Maurer, long time Japan pharma industry watcher and president of International Alliances Limited. A few of the more obvious reasons are:

• The market is big, second only to the US market, and growing in both volume and value.
• New drugs are discovered in Japan and innovations are rewarded with high reimbursement prices.
• Diffusion of new drugs is not restricted by formularies.
• Health insurance including drug coverage is universal, and access to health care is not denied.
• Demand for medicines is increasing because the population is aging.
• Japanese society demands the best health care the world has to offer and is willing to pay for it.
• Intellectual property is strongly protected.

The list could go on but would only further confirm the attractive features of the Japan market, features that show no sign of diminishing in the foreseeable future. Thus, let’s turn our attention to who is winning in Japan.