Israel Japan | Business Guide | 2023

J apan is the 3 rd largest pharmaceutical market worldwide, after the US and China, despite a challenging business landscape due to demographics. Japan enjoys both the world’s highest life expectancy rate along with a lowest infant mortality rate. Despite spending 10 %of its GDP on healthcare, themedical system is experiencing serious financial difficulties, due to Japan’s aging population combined with a diminishing number of children. Japan’s healthcare system provides both basic care and access to a large fraternity of doctors to all citizens at an affordable cost, under the National Health Insurance (NHI) system. The prescription drugs segment is witnessing a significant growth due to the rising prevalence of chronic diseases, increasing geriatric population and the growing demand and adoption of CAR-T and other expensive prescription drugs. The Covid- 19 Pandemic The demand for the development of vaccines, biologics, or major therapeutic drugs, is boosting the indigenous market's growth in Japan. The Covid- 19 pandemic as of August 9 , 2022 , reported 14 , 421 , 539 confirmed cases of Covid- 19 and 33 , 825 Covid deaths. Japan is an unique innovative market also in the Pharma ecosystem. In January 2022 , Chugai's Actemrawas approved for the treatment of SARS-CoV- 2 pneumonia (limited to patients requiring oxygen intervention) in Japan. In April Trends in Japan health system Indigenous demand and exports are creating growth for Japan’s healthcare industry. Since 2013, the Japanese government has promoted the healthcare industry as an important growth engine under the country’s economic revitalization and growth strategy | Dr. Dror Wohlfeiler 2022 , Takeda received approval for Nuvaxovid IM, a novel recombinant protein-based Covid- 19 vaccine for primary and booster immunization in individuals aged 18 years and older. Market overview The pharmaceutical market in Japan is highly competitive and consists of several major players such as Takeda Pharmaceutical Company Limited, Pfizer Inc., Chugai Pharmaceutical Co L.t.d., Merck & Co I.n.c. and Daiichi Sankyo. Themarket generated USD 67 . 3 B in total sales in 2021 and is expected to grow 1 . 1 % in 2022 to USD 68 . 1 B ( 2020 was USD 107 billion (down 0 . 7 percent from 2019 in yen terms). Japan’s market for medical devices continues to be among the world’s largest at USD 40 B. Since 2013 , the WAR on Covid-19 In January 2022 , Chugai's Actemrawas approved for the treatment of SARS-CoV- 2 pneumonia (limited to patients requiring oxygen intervention) in Japan. In April 2022 , Takeda received approval for Nuvaxovid IM, a novel recombinant protein-based Covid- 19 vaccine for primary and booster immunization in individuals aged 18 years and older. Israel-Japan > Business Guide > 2023 42 > Healthcare Industry > Sector Review