CPhI Japan brings together more than 100,000 pharmaceutical professionals each year to network, identify business opportunities and expand the global market.

This time its 16th edition was organised by UBM EMEA and UBM Asia with the release of new research into the Japanese pharmaceutical market. Over 90 domestic and international companies attending the event were surveyed to provide a holistic picture of the country's best growth opportunities.

A sector-by-sector analysis showed that 56% of companies believed that biologics and biosimilars showed the offered for the fastest growth over the next year. Companies reported that the most popular biopharmaceutical product classes under development are anticancer (72%) and enhanced immune class drugs (48%) - including cutting edge technologies such as checkpoint inhibitors (e.g. PD1), chimeric antigen receptor (CAR) T-cell therapies, antibody-drug conjugates (ADCs) and monoclonal antibodies (mAbs).

Rutger Oudejans, Brand Director at CPhI for Asia and North America said: "The ever rising demand for anticancer drugs and high margins combined with Japan's robust reimbursement system for patented drugs make it an attractive market for companies to invest in and develop new drugs."

Japan has the world's third largest pharma industry and traditionally its domestic market has thrived. Consequently, only 18% of business for Japanese pharma companies is undertaken in international markets. However, the research highlights that over two thirds of the companies surveyed are now looking to target international markets over the next year. Half of these companies are targeting the U.S., 27% are focusing on China and Korea, but with very few looking to Europe. This may be due to the favourable reimbursement systems within the US, whilst cultural ties to neighbouring high growth economies also provide opportunities.

"Over the past few days CPhI Japan has provided an unprecedented opportunity for international companies to cultivate innovation and promote investment into Japan's ever-growing domestic market. The extremely robust patented market combined with the huge growth anticipated for generics, biologics and APIs all provide an appealing platform for big business investments. This will enable Japan to maintain their position as a world leader in the pharmaceutical industry", commented Rutger Oudejans.