Japan is now the world’s third largest pharma industry and is forecast to reach a total value of US $115 billion by 2024. Japan has a very innovation-led economy with a constant stream of new technologies. The pharma industry is no exception to this, as companies like Takeda, Otsuka, Astellas, Eisai, Kyowa, and Daiichi Sankyo are developing new patented drugs for Japanese and for worldwide consumption.
Japan has led the rest of Asia in demand for active pharmaceutical ingredients (APIs) for a long time. In 2012, the market for APIs in Japan was the largest in Asia, at $15.5 billion. Japan now has many foreign API firms from India, Europe and the US who are actively selling their APIs on the Japanese market. Foreign API manufacturers have a strong opportunity for sales in Japan, particularly in the generic API segments.
The Japanese government has taken a series of steps for boosting its pharma industry. These steps include reducing barriers, making it easier for foreign countries to enter the market. Japan has also liberalized over-the- counter medicines. An ageing population, a growing generics market and liberalization of OTC medicines make Japan an attractive destination for investments, particularly as the pharma industry undergoes legislative changes, with the government¹s bid to cut healthcare expenditure.
The surge in demand will open up new opportunities for international pharmaceutical manufacturers, as domestic producers alone will struggle to meet required capacity. High quality generic manufacturers and branded generics, particularly those from the United States and Europe, are well placed to expand market share.
There are good prospects for Indian manufactured generic both finished formulations and APIs. With many Indian firms have recently flooded Japan’s market with inexpensive APIs, new entrants, particularly high quality manufacturers, will be poised to target the highly brand oriented Japanese customers through high quality and branded generics.
Having joined the Pharmaceutical Inspection Convention and the Pharmaceutical Inspection Cooperation Scheme (PIC/S) in 2014, Japan is also synchronising manufacturing and quality control standards between overseas suppliers and Japanese pharmaceutical manufacturers.
CPhI Japan expo
Central to the internationalisation of the Japanese market is CPhI Japan, which returns as the most comprehensive pharma event in the region to provide the latest trends, insights and innovations in the industry.
The five-in-one event allows visitors to gain access to the entire Japanese pharma industry under one roof, and meet with exhibitors working across ingredients, contract services, biopharmaceuticals, machinery, technology, and packaging.
CPhI Japan organised by UBM EMEA and UBM Japan returns to the Tokyo Big Sight Centre for its 16th edition from April 19 to 21, 2017. Gathering over 19,600 attendees and 550 exhibitors from 30 countries, the show will co-locate with ICSE, P-MEC, BioPh and InnoPack.
“Entering the PIC/S system three years ago has accelerated the entry to market for several international companies, particularly as the synchronisation of standards harmonise procedures. This coupled with the rise in demand for generics and the price review frequency amendment, will see pharma manufacturers from places like India, but also Europe and the United States cement a foothold in Japanese pharma, as consumers here are highly brand oriented”, says Rutger Oudejans, Brand Director CPhI at UBM EMEA.
Highlights of the event
CPhI Japan will include the renowned Business Matchmaking Programme, an online matchmaking tool that enables attendees to search for and arrange meetings with exhibitors prior to the show. Exhibitor Showcases will run on the show floor and allow exhibitors 30-minutes to present their products, services, new launches and innovations to visitors and press.
The Customer Insights Lounge is a new feature this year that will enable attendees to interact with CPhI Japan personnel and gather insights about the pharmaceutical market, company developments, and share event experiences.
ICSE connects the pharmaceutical community with outsourcing solution providers, offering a forum of business development, networking and education. P-MEC delivers innovative pharmaceutical machinery, equipment and technology to a worldwide forum of decision makers through face-to-face networking and education. BioPh offers a natural business platform to the world of pharma, focusing on biopharmaceutical development and services, both face-to-face and online. InnoPack brings together buyers and specifiers from the packaging and pharmaceutical industries, creating business opportunities through a dedicated worldwide forum.
Approximately 19,600 attendees are expected to be present at the event this year. The organizers expect to see 550 exhibitors from more than 30 countries, including China, India, Italy, Korea, Switzerland, United Kingdom, and United States.
There will be seven pavilions at the event. These include the Japan Bulk Pharmaceutical pavilion, Manufacturers pavilion, China pavilion, Korea pavilion, UK pavilion, India pavilion, Italy pavilion and the Spain pavilion
To help explore the market’s potential, running alongside the exhibition is a three-day, in-depth conference. CPhI Japan’s high-value conference programme enables attendees to learn about the latest trends and strategies in the market. It features bespoke content discussions and special seminars across topics such as ‘An Evolving Pharma Market - Challenges and Opportunities Ahead - Outlook to 2021’, and ‘Digital health: What does it mean exactly?’.
Additionally, keynote sessions will address ‘Current situations and challenges of policy on health insurance’ and ‘Current topics regarding regulation of pharmaceuticals in Japan’. Finally, an important session, dedicated to the new pricing and reimbursement system of medicines set in December 2016, will discuss the effects this will have in the market, including the potential reduction in overall prices and increased competition.
One stop solution
Thus the event is one stop solution for the pharmaceutical companies where one can find all major suppliers of pharmaceutical ingredients, the latest machinery & technology, packaging, outsourcing and bio solutions under one roof. People can witness latest trends and developments within the pharma industry by participating in conferences, seminars and exhibitor presentations.
“With the Japanese market becoming increasingly accessible to international companies, CPhI Japan is vital not only to meet and network with future partners, but also to learn about the key trends and insights in the pharma market. We have tailored our platforms, and particularly CPhI Japan's conference programme, to provide the most important topics and information needed to thrive in this pharma economy. For the past 16 years, we have seen this industry grow and it is now opening up to international markets and generics in addition to having one of the world's highest per capita pharma spends, adds Oudejans.
CPhI Japan is crucial in getting the opportunity to meet and network with future partners as well as learning about the key trends and insights in the pharma market, bringing everyone together under one roof . It has been the central platform for international businesses for over 10 years, where decision makers from Japan and overseas connect and do business.