bangladesh pharmaceutical industry

The pharmaceutical market of Bangladesh is expected to surpass $6 billion by 2025 with an absolute growth of 114 per cent from its 2019 levels, … These hospitals have become popular due to their high-quality service. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. Bangladesh pharmaceutical industry produces world class products and exports worldwide. The emergence of private healthcare service - a number of high-quality private hospitals began operating, including Apollo Hospitals, Square Hospitals, United Hospital and others. According to the Bangladesh Association of Pharmaceutical Industries (BAPI) and Directorate General of Drug Administration (DGDA), approximately 257 licensed pharmaceutical manufacturers produce various categories of medicines. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. About us | Contact us | Privacy Policy & Terms of Use. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. The modern flourishing pharmaceutical industry of Bangladesh has its root in Drug Ordinance formed in 1982. A total of 42 industries will be set up in the park, which will hold the potential to significantly boost the pharmaceutical sector in the country and create employment for more than 35,000 people. Follow us on your favorite social media network. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. Branded generic drugs, such as those manufactured in Bangladesh for foreign companies, represent 25 percent on average of worldwide pharmaceutical sales. More than ten leading Bangladeshi pharmaceutical companies are exporting generics to international markets. Industry people said the local packaging industry is growing at a rate of 10 percent a year. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. 8,000 Cr market, which is growing at 25% rate. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Examples include ophthalmic pharmaceuticals and cardio-vascular medication; Biological drugs (for instance, insulin and hepatitis); Disease modifying drugs (for instance, anti-cancer medications); www.export.gov/article?id=Bangladesh-Pharmaceutical, http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/. At the same time, … The World Trade Organization's (WTO) Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement permits Bangladesh to reverse-engineer patented generic pharmaceutical products to sell locally and export to markets around the world. This sector provides 97% of the total medicinal requirement of the local market. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. Though its major activities include upholding interests of the pharmaceutical manufacturers of Bangladesh to the relevant forums, in last few years BAPI also organized various health awareness programs, campaigns, against spurious drugs, exports potentials & problems in Bangladesh. Bangladesh also produces high-tech medicines such as anticancer treatments, hormonal products, enzymes and coenzymes on a limited scale, but it is currently only able to meet four percent of local requirements. As the country shifts to high-value manufactured products from low-value products like RMG, the future of this industry is under intense scrutiny. 1. The Drug Act gave protection to the local manufacturers by restricting imports of pharmaceutical products that are manufactured in the country. Industry Analysis of Pharmaceutical Industry in Bangladesh In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors which is contributing in the country's economy. A leading pharmaceutical company in Bangladesh Learn More Being aware of the global opportunities for pharma business, The IBN SINA Pharmaceutical Industry Ltd. relentlessly bolsters its international presence by capacity building, quality products and superior services and … Myanmar imports the highest quantity of medicines worth $13.60 million followed by Sri Lanka with f$13.38 million, the Philippines with $6.10 million. for quality management and quality products manufacturing. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. The pharmaceutical sector of Bangladesh is expanding rapidly and some companies have already certified by different international regulatory authorities like UK-MHRA, Australia-TGA, EU, etc. Local Production (97% of market, estimated), $U.S. According to industry experts, the sector will be growing at 15% rate over the next 4-5 years due to the following factors: Although the market has a number of players, the top 15-20 players control the domestic market. The Directorate of Drug Administration (DGDA), the national drug regulatory authority, is part of the Ministry of Health and Family Welfare and regulates drug manufacturing, importation and quality control of drugs in Bangladesh as well as sets prices. There are about 450 generics registered in Bangladesh. Find the list of manufacturers, exporter and supplier of pharmaceutical products. However, given the increased demand from emerging markets like China, India and Latin America, branded generic drugs may well dominate total sales within a decade. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. The income base of the population has been growing over the last decade. There are currently around 100 Bangladeshi pharmaceutical companies in operation. Manufacturers produce insulin, hormones, and cancer drugs. Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. The top-ranking companies have already developed world-class pharmaceutical plants with state-of-the-art technology. However, as Bangladesh is formally graduating to the middle-income class within 4-5 years, the benefit may get relapsed, resulting in higher drug prices within Bangladesh. Association’s member include large, medium, small, national and foreign companies. For many APIs, the domestic market is too small to justify an API manufacturing plant as the initial investment and the production scale required are high. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. Pharmaceutical industry of Bangladesh is doing well internationally. The discussion will, however, begin with a brief overview of the global pharmaceutical industry. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. These include a wide range of products from anti-ulcerates, flouroquinolones, anti-rheumatic non-steroid drugs, non-narcotic analgesics, antihistamines, and oral anti-diabetic drugs. Two organizations regulate drugs and pharmacies in Bangladesh. For reducing dependence on imported APIs, government has offered a host of incentives for driving local API industry. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. 1.1 Background. Copyright © 2018 - 2021 LightCastle Partners Ltd. Don't miss the next market & industry insight. Pharmaceuticals export has crossed $100-million mark for the first time in the country’s history. Due to the benefits of TRIPS agreement applicable for manufacturers in LDC, local players end up producing medicines at much cheaper rates, compared to their international counterparts. The industry also exports medicines to global markets, including Europe. BAPI has been enrolled as member of International Federation of Pharmaceutical Manufacturers Association (IFPMA), Geneva. Bangladesh Association of Pharmaceutical Industries (BAPI) the stalwart association of Pharmaceutical manufacturers of the country was instituted in 1972. As a result, medicine prices have remained within reach of the mass population. Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical … A gradual demographic shift, including increased life expectancy over the last two decades, has translated into increased health consciousness and needs, encouraging people to spend more on healthcare services. It remains likely that import restrictions will stay in place, and local companies will continue to dominate the pharmaceutical market. Bangladesh’s pharmaceutical industry is unique among least developed countries (LDCs). The pharmaceuticals industry of Bangladesh is one of the most important thrust sectors of Bangladesh, expected to bring billions of dollars worth investments and exports as the country grows. Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. On or before 1982 ordinance, 75% of the market was dominated by the MNCs and the rest share was with the other 133 local companies. Considering Bangladesh’s export potential, government has been supporting the sector through policy support and incentives like tax holidays, priority in getting lands and allocation of dedicated economic zones. Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). They have been a major factor contributing to increased healthcare expenditure and have substituted for regional healthcare travel (although treatment in Malaysia and Singapore  remains popular with some wealthy Bangladeshis even traveling to the United States for specialized services). Manufacture of pharmaceuticals is now one of the largest capital-intensive white-collar industries in the country, which has grown tremendously over the past few After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Manufacturers produce the most The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. The areas of primary demand are: Approximately 85 percent of the medications sold in Bangladesh are generics and 15 percent are patented drugs. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. It is known as the fastest growing industry in the world. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. Financial statement analysis is defined as the process of identifying financial strengths and weaknesses of the firm by properly establishing relationship between the items of the balance sheet and the profit and loss account. The industry also exports medicines to global markets, including Europe. Bangladeshi pharmaceutical companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United States, Australia, Canada and Europe. The top ten manufacturers by share of market revenue are as follows:  Square (19 percent), Incepta (9.5 percent), Beximco (9 percent), Opsonin (5 percent), Renata (4.9 percent), Eskayef (4.7 percent), ACI (4.3 percent), ACME (4.1 percent), Aritstopharma (4 percent), and Drug International (3.7 percent). Regarding the success of local pharmaceutical firms, industry insiders said the sector is largely protected from the threat of foreign competitors, as there is a restriction on the import of drugs that are similar to locally manufactured variants. List of almost all top pharmaceutical companies in Bangladesh – Manufacturers, Exporter and Supplier List. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. Work for establishing an API industry park is progressing, albeit slowly, at Gojaria in Munshiganj. The industry suffered the greatest negligence during the Pakistan… There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. Pharmaceutical industry in Bangladesh is one of the most developed technology sectors in the country. Bangladeshi pharmaceutical companies focus primarily on branded generic final formulations, using both imported and domestically produced Active Pharmaceutical Ingredients (APIs). INTRODUCTION. The industry meets 98% of the demand for medication in the country and can be considered to be self-sufficient. About 85 percent of the drugs sold in Bangladesh are generic and 15 percent are patented drugs. Healthcare Pharmaceutical ltd made a great jump to 12th position. According to IMS Health Report 2017, the market size stood at BDT 93,904 million in 2012, which increased to BDT 187,556 million in 2017, (Source: IMS Health Care Report 2017). Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. Increased education levels, enhanced awareness of healthcare, growing per capita incomes, the emergence of private healthcare services and the government’s expanding public expenditures in this sector continue to stimulate a rise in demand. Manufacturers produce insulin, hormones, and cancer drugs. DATABD.CO is a one-stop source for business data in Bangladesh. Since then BAPI playing a pivotal role in shaping up the industry. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. To a … Some of these companies are also emerging as competitors to Indian firms in certain areas. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. This industry is the second largest contributor to national exchequer. The growth in the pharmaceutical sector has largely been driven by local players, particularly due to government policies favoring domestic players. Bangladesh exported pharmaceutical products to 105 countries. Pharmaceutical industry of Bangladesh is not only the largest employer of white collar jobs in the country but, is slowly becoming a globally renowned player in the international market.Bangladesh has already crossed the BDT 6 billion mark in terms of foreign exchange earnings from drug exports in the FY2015-16. Incepta Pharmaceuticals Ltd. With two largest manufacturing plant facility in the capital city of … The aim of this study is to introduce the superior future of this sector in Bangladesh. Out of these 450 generics, 117 are in the controlled category i.e. Bangladesh Pharmaceutical Industry is now heading towards self-sufficiency in pharmaceuticals. Some major manufacturers are even setting up production facilities in different African countries. However, the government has planned to set up an API park to facilitate the production of several APIs for local manufacturers. Overview Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). The drivers behind market growth based on some health indicators are: Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. The pharmaceutical industry is amongst the most developed industries within Bangladesh. in the essential drug list. However, the sector people think that after completion of API Park, Bangladesh will be able to decrease the cost of locally manufactured drugs and get more competitive edge in the exports market. The platform is aimed at facilitating access to industry datasets in meaningful formats. Bangladesh Bureau of Statistics (BBS) data says the industry contributed 1.85% of the GDP in FY17. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical products. The TRIPs agreement is turning Bangladesh into a hub for affordable and high-quality generic medicines and contract manufacturing, with exports to potentially more than 85 countries across the world. Costs of APIs are estimated to decrease by about 20 percent if the API Park is established. The industry is highly concentrated as the top 20 companies generate 85 percent of the revenue. Besides catering to local demand, Bangladesh is also exporting its formulations to 62 countries of the world (mainly Asia, Africa and East Europe) and demand for export is increasing rapidly. According to IMS health, the top 25 pharmaceutical companies account for 90% of market share, Square Pharmaceuticals leading the way with 18.06 % market share. The government has given support to the manufacturing industry for decades. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. Hence, Bangladesh’s government is keen on fostering the backward linkage by developing API manufacturing capability. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. Pharmaceutical industry of Bangladesh is largely protected from external competition, as there is a restriction regarding import of similar drugs that is manufactured locally. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. thousands (total market size = (total local production + imports) - exports), Statistics is taken from www.export.gov/article?id=Bangladesh-Pharmaceutical, For more information visit http://www.pharmajogot.com/bangladesh-association-of-pharmaceutical-industries-bapi/, Hamid Suleymanov 56-58, Yakkasaray district, Tashkent, 100070, © 2016 - 2021 Embassy of the People's Republic of Bangladesh in Tashkent. In Bangladesh, Pharmaceuticals is one of the fastest growing sectors. Local manufacturers dominate the industry, enjoying about 90 percent market share while multinationals hold 10 percent. Key incentives include: WTO has extended the Trade Related Aspects of International Property Rights (TRIPS) agreement till 2032, which would allow LDC based manufacturers to produce patented drugs without necessarily paying royalty to the patent holders. View with images and charts. Beximco Pharma and Square Pharma both successfully completed FDA inspection of their oral solid dosage manufacturing facilities and received notification in June 2015. World’s top quality pharmaceutical companies in Bangladesh. It is the second largest contributor to the country’s economy. The pharmaceutical industry is fast becoming self-sufficient in packaging and meets more than 90 percent of the need, which was previously import-dependent. The pharmaceutical market trend is shifting toward unconventional drugs where there is greater opportunity for foreign investment. Bangladesh pharmaceutical industry is the second highest contributor to the national exchequer after garments, and it is the largest white-collar intensive employment sector of the country. Bangladesh manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. According to industry people, Bangladesh imports 99.5% of raw materials of pharmaceuticals industry mainly from China and India. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. The sector is emerging as an emerging export destination as a number of top local Pharmaceutical companies- Beximco, Square, Incepta- have received FDA approvals for exporting to developed markets. Moreover, few companies are on the road to achieve US-FDA approval. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. The rules and regulations of the Drug Act forms the foundation of the current industry. This sector provides 97% of the total medicinal requirement of the local market. 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