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Bangladesh Pharmaceuticals and Healthcare Report Q2 2010
Business Monitor International, Feb 2010, Pages: 63
Business Monitor International's Bangladesh Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Bangladesh's pharmaceuticals and healthcare industry.
Of the 15 key markets surveyed in BMI’s Pharmaceuticals & Healthcare Business Environment Ratings (BERs), Bangladesh can be found at the bottom of the table. For Q210, the country’s pharmaceutical rating stands at 38.5. Despite Bangladesh’s recent decline, BMI expect its position to improve over the medium term as a result of rising population numbers, economic improvements and efforts made by domestic firms to expand both their products portfolios and overseas markets. BMI therefore envisage that sales of pharmaceutical products will increase over the next 10 years, with sales of prescription drugs and over-the-counter (OTC) medications expected to grow from US$1.13bn in 2009 to US$3.44bn in 2019, representing a compound annual growth rates (CAGR) in local currency and US dollar terms of 14.6% and 11.81% respectively. It has emerged that a new pharmaceutical regulatory body will be established to replace Bangladesh’s Directorate General of Drug Administration (DDA). BMI is therefore poised to upgrade Bangladesh’s scores for ‘policy/reimbursement’, and ‘approvals process’ in their BERs, following the creation of the Directorate General of Drug Administration (DGDA).
The new medicine regulator is seeking to employ 1,000 staff in addition to those it will retain from the former regulator and is set to be fully operational within a year. Meanwhile, a global flagship report published by the United Nations Children’s Fund (UNICEF) on infant mortality rates has revealed that the incidence of infant mortality in Bangladesh has halved since 1990. Since 2008, infant mortality levels have decreased to 43 per 1,000 births (from 103), while the mortality rates of children under the age of five has also decreased from 149 to 54 per 1,000 births over the 18-year period. During 2008, local pharmaceutical companies exported medicines with a value of US$45.35mn. The number of destinations for exports has risen from 37 to 72 countries during the period. However, despite the growth in export revenue, the import of pharmaceuticals currently exceeds the level of exports. In 2008, pharmaceutical products worth US$55.52mn were imported into Bangladesh as opposed to US$47.34mn in 2007. By 2014, BMI expects exports to have overtaken imports, reaching a value of US$226.75mn and US$166.56mn, respectively.
With regard to the domestic market, a report published by Intercontinental Marketing Services (IMS) in August 2009 suggests that sales by local pharmaceutical manufacturers increased by 21% over the April to June period, marking a rise of 19% over the first three months of the year. Factors that have helped boost growth include developed manufacturing processes, newer investments in the sector and improved marketing strategies. Opsonin was the best performer, with a 51% increase in sales; followed by Eskayef with 42% and Drug International Limited with 39%, over the prescribed period.
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