Introduction to Market Growth
According to the news (23年度国内医療用薬市場 最高額の11兆3707億円に 製品売上１位はキイトルーダ オプジーボに買控えか | ニュース | ミクスOnline (mixonline.jp)) released by MixOnline on 22/05/2024, IQVIA announced that Japan’s domestic pharmaceutical market reached an unprecedented high of 11.3707 trillion yen for the fiscal year 2023 (April 2023 – March 2024), marking a 3.7% increase from the previous year. Significant expansions in the oncology, diabetes, chronic kidney disease, influenza, and COVID-19 antiviral treatment markets drove this growth.
Top Performing Products
Keytruda (Pembrolizumab) reclaimed the top sales position, surpassing Opdivo (Nivolumab), which experienced a 4.2% revenue decline in Q1 2024 due to a 15% price cut in April.
Oncology Market Dominance
The oncology market grew by 9.8% to nearly 2 trillion yen, representing 17% of the domestic market. Keytruda led with a 22.5% increase to 164.8 billion yen. Opdivo grew by 3.5% to 164.5 billion yen but fell to second place due to market recalculation impacts. Imfinzi (Durvalumab) posted a 116% growth, reaching 120.7 billion yen, following new cancer indications.
Significant Growth in the Following Therapeutic Areas
- Diabetes Treatments: Up 7.1% to 723.7 billion yen, with a solid performance from Forxiga (Dapagliflozin) and Jardiance (Empagliflozin).
- Immunosuppressants increased 8.6% to 621.4 billion yen, led by Dupixent (Dupilumab).
- Antivirals: Grew by 48.6% to 530.6 billion yen, driven by Lagevrio (Molnupiravir) and other antivirals.
Corporate Performance
Chugai Pharmaceutical and AstraZeneca topped the sales charts, each exceeding 500 billion yen. Chugai led for the third consecutive year with 539.8 billion yen in sales, while AstraZeneca’s sales surged by 12.6% to 513.1 billion yen. MSD climbed to third place with a 30.2% increase to 497.2 billion yen, thanks to Keytruda and Lagevrio.
Conclusion
Japan’s pharmaceutical market demonstrated robust growth in FY2023, driven by advancements in oncology and other therapeutic areas. New drug developments and broader indications for existing treatments are anticipated to continue expanding the market.