CPhI Japan driven by growing healthcare demand
This year CPhI Japan will return to the Tokyo Big Sight Centre for its 16th edition to provide the latest trends, insights and advancements in the pharmaceutical industry.
The show, taking place on 19-21 April, will host over 19,600 attendees and 550 exhibitors from 30 countries.
The event is co-located with ICSE, P-MEC, BioPh, and InnoPack and allows visitors to gain access to the Japanese pharma industry and meet with exhibitors working across ingredients, contract services, biopharmaceuticals, machinery, technology and packaging.
CPhI Japan will host a three-day conference where attendees can learn about the latest trends and strategies in the market. The conference will include seminars such as ‘An Evolving Pharma Market - Challenges and Opportunities Ahead - Outlook to 2021’, and ‘Digital health: What does it mean exactly?’.
Other 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.
Japan is the world’s third largest pharma industry and is expected to reach a total value of $115 billion by 2024. The government recently committed to increase market penetration of generics due to growing healthcare costs and an ageing population. Increased demand is expected to provide new opportunities for international pharmaceutical manufacturers as domestic producers may struggle to meet required capacity.
In 2014 Japan joined the Pharmaceutical Inspection Convention and the Pharmaceutical Inspection Cooperation Scheme (PIC/S) and is matching manufacturing and quality control standards between overseas suppliers and Japanese pharmaceutical manufacturers
Rutger Oudejans, brand director CPhI at UBM EMEA said: “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.”
Oudejans continued: “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.”