Industry

Export Opportunities: Pharmexcil facilitates Indian Pharma Industry entry into the Japanese Market

October 9, 2023

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Import Export containers of Drugs at Port — Picture: Pixabay

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Last Updated on December 31, 2023 by The Health Master

Export Opportunities

Export Opportunities: The Pharmaceuticals Export Promotion Council of India (Pharmexcil) is spearheading an endeavor to bolster India’s presence in the dynamic Japanese pharmaceutical market.

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In a strategic move, Pharmexcil has rallied its member companies to actively participate in a high-profile business delegation to Japan.

Led by the Union Commerce Minister, this delegation aims to foster investment and trade promotion between the two nations.

Investment and Trade Promotion Roadshow in Japan:

Scheduled from the 25th to the 27th of October, 2023, the investment and trade promotion roadshow in Japan promises to be a pivotal event for India’s pharmaceutical industry.

The primary objective is twofold: to position India as an enticing investment destination and to promote Indian pharmaceutical products in the Japanese market.

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Business Meetings:

Under the aegis of the Union Ministry of Commerce and Industry, “One to One Business Meetings with pharma companies” will be a pivotal feature of the event.

This exclusive platform, occurring in parallel with the investment and trade promotion roadshow, offers member companies and exporters an invaluable opportunity for B2B interactions aimed at enhancing trade promotion.

Pharmexcil’s Insight:

Director General of Pharmexcil, emphasized the significance of this initiative. He highlighted that pharmaceuticals and biomedical sectors have been earmarked as potential avenues for trade promotion.

This strategic decision was made in close collaboration with our diplomatic mission in Japan.

India’s Growing Export Opportunities to Japan:

The recent figures are indicative of the upward trajectory of India’s pharmaceutical export opportunities to Japan.

In the fiscal year 2022-23, exports reached an impressive USD 247.50 million, showcasing a notable growth rate of 3.79% compared to the previous year.

This surge underscores the burgeoning potential of the Japanese market for Indian pharmaceuticals.

Japan: A Thriving Pharmaceutical Hub:

Japan holds the distinction of being the third-largest pharmaceutical market worldwide. The Japanese government’s endorsement of generic drugs since 2007 has been instrumental in curbing healthcare expenses.

Consequently, the volume share of generics has witnessed a remarkable surge over the past decade, a trend that continues to ascend.

Key Players in Japan’s Pharma Landscape:

As of March 31, 2023, GlobalData identified the top 5 pharmaceutical companies in Japan by market capitalization.

These industry leaders are Daiichi Sankyo Co Ltd, Takeda Pharmaceutical Co Ltd, Chugai Pharmaceutical Co Ltd, Astellas Pharma Inc, and Otsuka Holdings Co Ltd.

Familiarity with these key players is essential for Indian companies seeking to establish a foothold in the Japanese market.

US Pharma Industry: A Crucial Export Market for Japan:

Since 2013, the Japanese government has accorded paramount importance to the healthcare sector as a pivotal driver of economic growth.

This strategic focus has solidified the US pharmaceuticals industry’s standing as a critical export market for Japan.

Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.