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Malaysia Pharmaceuticals and Healthcare Report Q4 2009
Business Monitor International, Sep 2009, Pages: 100
The Malaysia 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 Malaysia's pharmaceuticals and healthcare industry.
In the Business Environment Rating (BER) matrix for Q409, Malaysia considerably improved its position in the Asia Pacific matrix, and is now ranked fifth out of the 15 key regional markets. Key attractions of the Malaysian pharmaceutical market are the government’s encouragement of the biotechnology sector and the forecast steady annual growth in its pharmaceutical market. On the other hand, per-capita pharmaceutical consumption is quite low, especially due to high out-of-pocket payment levels, which make the market vulnerable to the current economic crisis. Nevertheless, we forecast that the market will post a compound annual growth rate (CAGR) of 7.65% in local currency terms, rising – at consumer prices – from MYR4.12bn (US$1.22bn) in 2008 to MYR5.96bn (US$1.96bn) in 2013.
Boosted by considerable encouragement from the government, the generic sector will gain in terms of volume, although generics will only gain a small percentage of the total market due to their competitive prices. Patent expirations will have a considerable impact on the performance of the generic sector in the coming years. In August 2009, Indian Ranbaxy launched cardiovascular treatment Covance (losartan), which will be manufactured locally. Given the low cost of the product and the unmet medical need, the author expects prescribers’ uptake of the drug to be rapid.
In addition to cannibalising sales of the originator product – Merck & Co’s Cozaar – Covance will gain market share at the expense of Diovan (valsartan), Aprovel (irbesartan) and Micardis (telmisartan).
Although the operating environment for foreign companies remains challenging – with medical devices specialist B Braun Medical Industries mulling the relocation of its manufacturing facilities from Malaysia to Indonesia – clinical trials and biotechnology continue to be considered areas of growth. Indian Veeda Clinical Research recently created its South East Asia office in Malaysia, while also signing a collaborative agreement with the Malaysian Ministry of Health, with a view to opening an early clinical trials centre. Similarly, a subsidiary of US biotechnology firm Actis Biologics was in the process of securing funds for the creation of a biotech park (to be named Biocity) in Melaka, Malaysia.
In terms of recent epidemiological developments, the burden of digestive system disorders – including peptic ulcers, irritable bowel syndrome (IBS) and colon cancer – in the country is growing. In fact, in 2007, they were the seventh-most common causes of both morbidity and mortality, indicating a significant unmet medical need. Recently, the country has also been affected by the globally-spreading swine flu epidemic. By early August 2009, the human death toll rose to 44, with the Ministry of Health commencing a public education campaign on the spread of the A (H1N1) virus. The current stock of antivirals is expected to be supplemented by an additional MYR20m (US$6mn) worth of medicines, while all healthcare institutions have also been ordered to utilise rapid influenza screening tests.
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