Noida, India (PressExposure) August 14, 2009 -- The Asia-Pacific region is attracting plenty of attention from major pharmaceutical players because of its rapid economic growth, and this is an enticing prospect for foreign companies wishing to enter the market. However, a number of key reforms alongwith pricing and reimbursement (P&R) developments are set to change the regionâs healthcare environment in future. Our new research study âAsia Pacific Biotechnology Market (2008-2012)â anticipates that biotechnology market in the Asia Pacific region is forecasted to grow at a CAGR of around 14% during 2010-2012, becoming one the fastest growing markets in the world.
We have done extensive research on Asia Pacific biotechnology market in order to identify various prevailing trends and undergoing developments across the key markets. According to the study, Japan holds more than half of the share of the Asia Pacific biotechnology market. In terms of growth, Malaysia and Korea are among the top growing markets. Various factors such as increasing prevalence of disease, technological developments, increasing private investments and proper government support are responsible for this rapid growth.
We have observed that among the emerging market trends, generics has a bright future. The generics market is anticipated to post double digit growth in Asia Pacific market. Regional governments are also supporting the production of generics because of its cost affordability. Moreover, concepts like contract research and manufacturing also hold the potential to drive the growth of industry in future as drug development companies in the western countries are facing tremendous pricing pressure in their home markets and need ways to reduce costs and increase returns for their investors and shareholders.
Our study analyzes the key biotechnology markets in the region to give a brief account on the future scenario of the industry. According to our industry experts, several steps should be taken by governments to ease the approval system so as to promote investment in dedicated research and development. It also provides detailed analysis of the factors which are fuelling the growth of Asia Pacific biotech market. Besides this, the report also provides rational analysis and forecast of various segments and sectors of the industry.
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