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Exploring Asia

As a region, Asia is home to 60% of the world’s population, which automatically makes it the largest healthcare opportunity in the world. While Japan has been on the industry radar for decades, China is now emerging as a growing source of opportunity for the industry. Driven by pro-innovation and pro-biotechnology policy trends, including drug regulatory reform and intellectual property rights protection, China is becoming a key destination for biopharmaceutical companies globally (1).

Within Asia, China and Japan are the two powerhouse economies and prescription markets, accounting for approximately 20% of global pharma spending. According to healthcare consulting firm IQVIA, China alone is expected to contribute $37 billion of the global prescription growth by 2022, covering 13% of the growth total and topping $160 billion in annual pharma spending (see Table 1, page 14). The US is supposed reach $600 billion of yearly market value by 2022 – that represents a $133 billion increase.

Currently, Asia accounts for 30% of all pharma spending globally. With rapid urbanisation and improved healthcare services, that figure is expected to increase as the region’s healthcare burden rises, especially with respect to chronic disease treatment.

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About the author

Zdenek Pecený studied Finance and Financial Services at the University of Finance and Administration in Prague and has 10 years of experience for various media outlets specialising in finance and business points of view. Zdeněk is based between London and Prague and has worked as a freelance journalist for three years while travelling and networking, gaining a greater understanding of attitudes of people and governments, particularly in business and healthcare.

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