6.9% CAGR forecast for Japan’s generic drug market

20 May 2024

The Japan generic drug market size reached $11.5 billion in 2023 and is forecast to see strong growth.

Looking forward, international market research group IMARC Group expects the market to reach $21.4 billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.

Japan represents the world’s eighth biggest market for generic drugs in terms of value. Generic drugs, however, have traditionally enjoyed a relatively lower penetration in Japan compared to other developed markets such as the USA and Europe.

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