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Bangladesh Pharmaceuticals and Healthcare Report Q3 2009
Business Monitor International, June 2009, Pages: 58
Bangladesh Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulartory bodies with independent forecasts and competitive intelligence on Bangladesh's pharmaceutical and healthcare industry
Out of the 15 key markets surveyed in BMI’s Pharmaceuticals & Healthcare Business Environment Rankings, Bangladesh is placed in 13th position, and can be found above Pakistan and Vietnam, the latter being judged the least attractive proposition for investment. Bangladesh’s ascent in the current ratings is indicative of the economic improvements currently taking place, and we envisage that over the next five years sales of pharmaceutical products are set to increase. These include sales of prescription drugs and over-the-counter (OTC) medications which are expected to grow from US$858mn to US$1.88bn, thus representing a compound annual growth rate (CAGR) of 17.08%.
Elsewhere we find that a joint study conducted by the World Food Programme, UNICEF and the Institute of Public Health Nutrition has revealed that one in four households in Bangladesh faces food insecurity, while 2mn children aged six months to five years are affected by acute malnutrition. Of the 2mn malnourished children, it was found that half a million children suffer from acute malnutrition. The survey, which was undertaken to assess the impact of the food price increases in Bangladesh, was conducted between November 2008 and January this year.
As part of efforts to improve healthcare facilities in Bangladesh, the Minister for Health and Family Welfare announced in March 2009 that the government plans to improve the efficiency of the country’s community clinics in collaboration with already existing Upazila health complexes. Under government proposals, efforts will be made to gradually improve the standard of healthcare facilities in all Upazila health centres, district hospitals and tertiary medical units located in all of the major cities around the country.
In other developments, recent findings suggest that the Bangladesh pharmaceutical industry is actively involved in the production of Active Pharmaceutical Ingredients (APIs). At present, 21 different companies manufacture 41 such products locally. However, as this is insufficient to meet the growing demand from the domestic market, the government has approved the establishment of an API industrial park in Munshigonj at a cost of US$30bn. Estimates suggest that API products worth US$750mn per annum could be exported over the next five years. At present, Bangladesh imports 80% of its pharmaceutical raw materials from aboard.
With regard to the corporate sector, RAK Pharmaceuticals announced that it was scheduled to enter into commercial production as of April, with products available on the domestic market by June this year. The disclosure was made at the inauguration of the company’s new manufacturing facility at Sripur in Gazipur. RAK Pharma has set up two separate manufacturing plants; one for the production of Cephalosporin and another for non-Cephalosporin based products. The production facility was officially opened in March. Meanwhile, Beximco Pharmaceuticals announced in May 2009 that it will now focus its expansion efforts on gaining entry into Australian and North American markets. Beximco currently exports to 14 Asian, five African, four Pacific and two Middle Eastern countries..
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