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Overview AAA market
Market size: $89.1 billion
Market growth: 8% in constant local currency $
Market forecasts 1998-2002:
- Japan: 5% CAGR
- South East Asia/China: 11% CAGR
- Australasia: 10% CAGR
The recovery of the area after the Asian currency crises of
1997 has been noticeable in the 17% increase in the market
over 1998. This has been fuelled largely by 12% growth in
China, whilst in Japan growth has been slower than hoped,
and medical expenditure stagnant in 1999.
Many of the larger Japanese companies have undergone significant
restructuring, downsizing their domestic business in favour
of offices overseas, in particular the USA and Europe. In
addition, foreign multinationals in Japan are ending alliances
with domestic firms and setting up subsidiaries as independent
businesses.
Although healthcare has improved substantially in China, reforms
are urgently needed. Healthcare costs continue to escalate,
placing increasing financial pressure on all organisations
involved in the subsidisation of healthcare. In an effort
to contain healthcare costs, the government has decentralised
its authorities and responsibilities, reduced investment and
support for several state-owned enterprises and has piloted
reforms to the medical care system.
The rest of the region had a good year, with strong recovery
in Indonesia, the Philippines, South Korea, Taiwan and Australia.
Detailed
reports of sales for the Top 20 Corporations,
Products,
Countries
and Therapy
Areas in 1998 and 1999 are available to buy online.
*Source: World
Review 2000.
Please note Data
collection, values and definitions.
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