Despite Economic Crisis the Healthcare Market in North East Asia Expected to Grow, says New Report

Sept. 7, 2009 - PRLog -- Piribo, the online destination for business intelligence for the biotech and pharmaceutical industry, has added a new report analysing the pharmaceutical markets in North East Asia.

“The Outlook for Pharmaceuticals in North East Asia: to 2014” reports that Japan, China, South Korea and Taiwan are ranked among the biggest pharmaceutical markets in the world.

Furthermore, in 2008, the countries covered in this report represented a pharmaceutical market value estimated at $108.7 billion.

The report shows that geographically located in north east Asia, these four countries are currently undergoing different phases of development, both in overall terms and more pertinently, in the growth of the respective pharmaceutical markets.

Japan, South Korea and Taiwan for example represent highly developed pharmaceutical markets with advanced healthcare systems and high levels of spending, both in the private and public sector, and this has inevitably placed a strain on the respective governments, who have in recent years tried to temper escalating spending by introducing various cost containment strategies, including periodical changes to reimbursement prices and the encouragement of generic substitution.

Despite these measures, spending has continued to rise - key factors being the ageing demographic and the high standards of healthcare the population has grown to expect. While governments hope to control health costs, the trend suggests health spending will continue to rise in the long run.

China's healthcare provision is somewhat lacking when compared to the other three countries, but it remains one of the fastest growing countries in the world, expanding at a rate of 9.1% in 2008. This growth rate, along with the other countries, will be impacted by the global economic downturn, but compared to some other industries, the healthcare sector will not be as adversely affected.

“The Outlook for Pharmaceuticals in North East Asia: to 2014” is available from Piribo. For more information go to:  
http://www.piribo.com/publications/country/asia_pacific/o...

Piribo product ID: ESP01016

# # #

About Piribo.
Piribo (http://www.piribo.com/publications/country/asia_pacific/i...) is a UK-based independent online store supplying business information on the pharmaceutical and biotechnology industries. The website now carries over 17,000 English language titles including, market reports, studies and books and is the UK’s largest online biopharma information store. Subscribers receive a free monthly newsletter and email alerts on new titles in their areas of interest. The company was established in 2004.