BioSpectrum Asia - September 2024

I dette nummeret

Rebooting Japan’s Biotech Growth Engine
Japan was once a global leader in life sciences innovation, responsible for nearly 30 per cent of all new drugs. However, its share has since dropped to less than 10 per cent. Between 1995 and 2018, Japan's contribution to the global pharmaceutical industry's valueadded declined by 70 per cent, from 18.5 to 5.5 per cent. Factors such as strict price controls, reduced government investment in basic research, weak collaboration between industry and universities, and a slow regulatory process have significantly contributed to the decline in Japan's biopharmaceutical competitiveness, as noted in a 2022 paper by the Centre for Life Sciences
Innovation, part of the Information Technology and Innovation Foundation, US. Japanese companies’ share of clinical trials also declined from 11 per cent in 2013 to 4 per cent in 2023. An IQVIA report found that the number of trials initiated by Japanese companies dropped from 501 in 2013 to 244 a decade later. Additionally, Japan launched only 20 new medicines in 2023, the lowest total since 2014, trailing behind the US and other major markets. Recognising this, the Japanese government
has announced several initiatives designed to reshape the country’s biopharma ecosystem. These efforts include substantial increases in capital for venture funds,
targeted subsidies for therapeutic drug development, and a suite of tax incentives aimed at empowering investors, entrepreneurs, and startup employees.