Asia on the move: Five trends shaping the Asia biopharmaceutical market

27 July 2018

The biopharmaceutical sector in Asia recently began to gain worldwide attention due to its rapid growth and development. Previously, the sector faced difficulties due to Japan’s spending control, deceleration in Southeast Asia and India and China’s market-access blockade. Now, however, the market is changing, and businesses looking to engage in this industry need to rethink their strategies. The current key trends include reforms in China Food and Drug Administration to improve industry growth through innovation; the launching of new products; and acceleration of clinical trials. Other trends include price reforms in Japan, digital and advanced healthcare analytics with government support, emerging funding opportunities and improved access to medicines in Southeast Asia and China. These trends create a number of opportunities for businesses across the Asia region. Businesses are advised to consider integrating Asia into their global development strategy, bringing innovation to Asia (with special focus on involving Japan and China) and investing in pharmaceutical innovation in Asia (including investment in local digital programs). It is crucial to expand in Asia’s biopharmaceutical markets at the right time to create the best opportunities. There is also the need to be mindful of the time and investment required, and to implement the right strategies and tools to reach the most consumers.

Read the full article on the McKinsey & Co. website.

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