Asia Market Entry – Opportunities & Challenges
A continent of extremes, with great potential for growth
Asia is a continent of diversity. Geographically large, the assortment of cultures, people, disease profiles, and healthcare systems added to the juxtaposition of extreme wealth and extreme poverty, emphasises the many challenges faced by the pharmaceutical companies when thinking of entering Asia. Countries such as Russia, India and China have traditionally been considered the key players in emerging markets.
However, vigorous economic growth, government healthcare reforms, population growth, increasing per capita income and changing disease profiles have led to a greater demand for healthcare and pharmaceuticals across other markets in the continent – nowhere more so than the 10 countries that comprise the Association of Southeast Asian Nations (ASEAN) – Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia, Laos, and Vietnam.
The ASEAN countries have a combined population of more than 625 million, nearly double that of the United States and more than 120 million higher than that of the EU. Topping $2.3 trillion, with a GDP per capita of US$3,748, their combined GDP is equal to around one-quarter that of China, and the region saw GDP growth of about 7% in 2013, compared with negative growth in the EU and approximately 2% growth in the United States1.
This opens a huge opportunity for pharmaceutical companies, amidst increasingly complex and evolving healthcare systems. Commercial success will depend on understanding the market dynamics by consolidating positioning within the market place with the requirements of each market.
You may also be interested in…
A message from our Chairwoman
At Deallus we are fortunate to have Ulrike Meier as our Chairwoman since 2020. Ulrike has written a brilliant blog reflecting on her time with Deallus so far and shares some insights into, even if removed from daily business, as Chairwoman, there is room to make a difference. From being authentic, focusing on the bigger picture, to providing motivation and guidance, Ulrike explores what key elements she prioritises in her role and how we can all play a part in organisation success.
World Immunization Week 2024
Decades of transformation, fueled by unprecedented innovation are continuously pushing the bar for what the vaccines industry needs to deliver. A tight balance of public and global health commitments, and commercial attractiveness.
Unlocking Insights at PharmaCI: A Recap from Deallus
At Deallus, we constantly strive to immerse ourselves in the latest developments and conversations within the competitive intelligence (CI) landscape. Recently, we had the privilege of attending PharmaCI in Munich, where we engaged in enriching discussions with esteemed clients, peers, and colleagues.
Can AI really help you understand what matters in your market?
The impact of AI across our industry will be profound. It’s already driving faster identification of novel drug targets and drug discovery, better patient identification, accelerated drug development, earlier diagnosis, and more personalized healthcare.