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The Pharmaceutical Market: Malaysia
Espicom Business Intelligence Ltd, Oct 2011, Pages: 60
THE PHARMACEUTICAL MARKET: MALAYSIA - REVIEW
The macroenvironment will be defined by an increase in GDP and population during the forecast period. Politically, the government aims to reduce its fiscal deficit in 2011, following a recent period of fiscal stimulus and loose monetary policy. Economically, Malaysia will be the ninth largest economy in the Asia Pacific region covered by Espicom in 2016. In terms of GDP per capita, Malaysia will rank eighth. Legally, Malaysia remains on the US Trade Representative’s (USTR) Watch List in 2011, despite the government strengthening its IPR protection and enforcement. Demographically, the population is estimated to have a high growth rate. By 2016, the EIU projects that the population of Malaysia will be the 11th largest in the Asia Pacific region. The elderly population is expected to grow in the forecast period. Malaysia has a largely young population, with those aged between 0-14 years old making up nearly a third of the total.
The Malaysian pharmaceutical market is small and relies heavily on the import of medicaments. Espicom projects the market to grow at a healthy CAGR in the forecast period. However, it will remain as the fifth smallest pharmaceutical market in the Asia Pacific region in size terms by 2016. There are around 250 Malaysian pharmaceutical manufacturers licensed by the Drug Control Authority, although over two-thirds of these are traditional medicine manufacturers. There is little multinational manufacturing activity in the country due to strict regulations, although these may be relaxed in the future. Ranbaxy and GSK are the only examples of large global multinational companies that have manufacturing operations in the country. Malaysia is heavily dependent on the imports of retail medicaments, which represent over three-quarters of total imports. As most pharmaceutical manufacturing is for local consumption, the balance of pharmaceutical trade will remain considerably negative, and the deficit is likely to increase in the forecast period.
The government has identified biotechnology as one of the core technologies to accelerate the transformation of Malaysia into a knowledge-based economy and an industrialised nation by year 2020. The Malaysian Biotechnology Corporation (BiotechCorp) is the leading agency responsible for the co-ordinated implementation of the National Biotechnology Policy (NBP). The most important Malaysian biologic manufacturers include Bioven, CCM Duopharma, Inno Biologics and Ninebio. The National Pharmaceutical Control Bureau (NPCB) has adopted the Guidance Document and Guidelines for the Registration of Biosimilars, making Malaysia only the second country, after Australia, in the Asia Pacific region to adopt regulations for biosimilar registration. There have been a number of competitive strategies completed over the last 12 months: Agila Specialities has agreed to establish a biopharmaceuticals facility at Bio-XCell park; US-based Viropro has acquired Alpha Biologics; and Indian-based Avesthage, in partnership with Inno Biologics, has manufactured clinical grade darbepoetin alfa, its biosimilar version of Amgen’s Aranesp.
ENHANCED STRATEGIC INTELLIGENCE
These highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
- Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
- Specialised intelligence on OTCs, generics, biologics and biosimilars.
- Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
- A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
- The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
HEALTHCARE STATISTICS
A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.
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