Generics The value of Japanese pharmaceutical market at retail prices will increase at a very modest compound annual growth rate (CAGR) of 1.25%, as measured in local currency, says Business Monitor International. However, when calculated in US dollars, growth will fall into negative territory. The market will reach a value of 9,619 billion yen ($87.45 billion) in 2014, up from of 9,040.1 billion yen in 2009. Over BMI's longer, 10-year forecast, it expects the growth rate to drop to under 1% as public purse-strings are tightened further. 29 April 2010