|
|
 |
|
Viewing report
|
|
|
|
Pakistan Pharmaceuticals and Healthcare Report Q3 2008
Business Monitor International, Aug 2008, Pages: 70
This Pakistan Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Pakistan's pharmaceuticals and healthcare industry.
In this Business Environment Rankings for Q308, Pakistan remains last out of the 14 markets assessed in the Asia Pacific region, although the country does offer some investment prospects. However, the fundamentals for Pakistan – including low per capita healthcare and pharmaceutical spending, unsettled political situation and regulatory shortcomings – are clearly far from optimal. On the other hand, the country’s rapidly expanding population and developing economy present an opportunity for foreign companies willing to operate in a risky environment, where only about half the population has access to modern medicines and where the government is committed to keeping drug prices low. Similarly, the situation has a significant potential for improvement, provided the country amends the Drug Act 1976 and gives increased protection for patented pharmaceuticals.
In the meantime, in May 2008, due to erosion of margins, pharmaceutical companies called on Pakistan's government to allow them to increase the price of medicines by 10%. The firms have been negatively impacted by the prices of drugs that have remained stable for the last five years, despite the fact that the cost of production (including wages, petrol and raw materials) has risen by one fifth over the same period. However, the price controls are expected to remain in place for the medium term, although this may mean that some local companies will cease to be operational. Nevertheless, any gaps that may appear in the market are expected to be filled by operators from a lower cost base country, such as neighbouring India. Around the same time, keeping to their commitment to improve access to medicines, the authorities announced the creation of a new scheme to dispense essential medicines free of charge from counters in government hospitals. The drugs had previously been distributed by the humanitarian Bait-Ul-Maal scheme, but allegations of misappropriation of funds have led to stricter controls. The move is welcomed, but it is pointed out that only a very small percentage of the country's vast population will benefit, given that only US$16.2mn has been dispersed by Bait-Ul-Maal in over a decade. It had been known that the Bait-Ul-Maal scheme lacked transparency, but it was not until a case of gross nepotism that a revision of the system was demanded by the Ministry of Health.
In terms of the country’s medical devices prospects, the industry and the market are indicative of the wider state of Pakistan’s development. While the demand for new and modern equipment exists, it is not supported by healthcare financing and logistics. Consequently, the medical devices market is negligible in global terms, hampered by ill-equipped public hospitals and an underdeveloped primary care network. While the private sector exists in more affluent urban areas, it is very small. Most hi-tech devices will continue to be imported, although a small and fragmented domestic industry will remain responsible for the manufacture of a range of quality devices, which are increasingly exported.
Also available
Pakistan Pharmaceuticals & Healthcare Report Q1 2008
Pakistan Pharmaceuticals and Healthcare Report Q2 2008
Customers who bought this item also bought
Pakistan Pharmaceuticals and Healthcare Report Q2 2008
Pakistan Pharmaceuticals and Healthcare Report Q4 2008
Pakistan Pharmaceuticals and Healthcare Report Q1 2009
Pakistan Pharmaceuticals & Healthcare Report Q1 2008
Pakistan Pharmaceuticals and Healthcare Report Q2 2009
The Pharmaceutical Market: Pakistan
Lebanon Pharmaceuticals and Healthcare Report Q4 2009
The Medical Device Market: Pakistan
Qatar Pharmaceuticals and Healthcare Report Q1 2009
Kazakhstan Pharmaceuticals and Healthcare Report Q4 2009
Kazakhstan Pharmaceuticals and Healthcare Report Q1 2009
Executive Report on Strategies in Pakistan
|
|
|
|
