Pharmaceuticals - Eastern Asia

Eastern Asia

In 2024, the projected revenue in the Pharmaceuticals market in Eastern Asia is expected to reach US$182.00bn.
Among the various markets, Oncology Drugs is the largest, with a projected market volume of US$32.15bn in 2024.
Looking ahead, the revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 5.36%, leading to a market volume of US$236.30bn by 2029.
Comparing globally, United States is projected to generate the highest revenue, amounting to US$630.30bn in 2024.
With its strong focus on research and development, Japan remains a global leader in the pharmaceutical industry.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Eastern Asia has been experiencing a steady growth in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Eastern Asia are increasingly seeking out pharmaceutical products that are safe, effective, and affordable. This has led to a rise in demand for generic drugs, which are cheaper than their branded counterparts. In addition, customers are also placing a greater emphasis on preventive healthcare, leading to an increase in the consumption of vitamins, dietary supplements, and other health products.

Trends in the market: In China, the pharmaceutical market has been growing rapidly due to the aging population and increasing healthcare spending. The government's push towards universal healthcare coverage has also contributed to the growth of the market. In Japan, the market has been driven by the increasing demand for innovative drugs and the rise of biologics. South Korea's market has been growing due to the increasing prevalence of chronic diseases and the government's efforts to promote the development of the pharmaceutical industry.

Local special circumstances: Each country in Eastern Asia has its own unique set of circumstances that affect the pharmaceutical market. For example, in China, the government plays a significant role in regulating the market and has been implementing policies to promote the development of domestic pharmaceutical companies. In Japan, the market is highly regulated and the approval process for new drugs can be lengthy and expensive. South Korea has been promoting the development of the pharmaceutical industry through various initiatives such as tax incentives and funding for research and development.

Underlying macroeconomic factors: The pharmaceutical market in Eastern Asia is also influenced by underlying macroeconomic factors such as GDP growth, inflation rates, and exchange rates. The region has been experiencing steady economic growth, which has led to an increase in healthcare spending. In addition, the depreciation of certain currencies such as the Japanese yen and the Korean won has made pharmaceutical exports more competitive, leading to an increase in exports from these countries.Overall, the Pharmaceuticals market in Eastern Asia is expected to continue growing in the coming years, driven by factors such as customer preferences, local special circumstances, and underlying macroeconomic factors. However, the market is also facing challenges such as increasing competition and regulatory hurdles, which could impact its growth in the future.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.