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bangladesh pharmaceutical industry

bangladesh pharmaceutical industry

The platform is aimed at facilitating access to industry datasets in meaningful formats. 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. Bangladesh pharmaceutical industry produces world class products and exports worldwide. 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). These hospitals have become popular due to their high-quality service. The income base of the population has been growing over the last decade. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … Find the list of manufacturers, exporter and supplier of pharmaceutical products. Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. 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. Local Production (97% of market, estimated), $U.S. 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. It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. 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. Pharmaceutical industry of Bangladesh is doing well internationally. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. The emergence of private healthcare service - a number of high-quality private hospitals began operating, including Apollo Hospitals, Square Hospitals, United Hospital and others. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. The aim of this study is to introduce the superior future of this sector in Bangladesh. Industry people said the local packaging industry is growing at a rate of 10 percent a year. Bangladeshi pharmaceutical companies focus primarily on branded generic final formulations, using both imported and domestically produced Active Pharmaceutical Ingredients (APIs). Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. This expectation is supported […] The pharmaceutical industry is fast becoming self-sufficient in packaging and meets more than 90 percent of the need, which was previously import-dependent. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. Copyright © 2018 - 2021 LightCastle Partners Ltd. Don't miss the next market & industry insight. Bangladesh’s pharmaceutical industry is unique among least developed countries (LDCs). The industry suffered the greatest negligence during the Pakistan… The top-ranking companies have already developed world-class pharmaceutical plants with state-of-the-art technology. Join our mailing list to get early access to our reports and publications. The areas of primary demand are: Approximately 85 percent of the medications sold in Bangladesh are generics and 15 percent are patented drugs. This industry is the second largest contributor to national exchequer. There are currently around 100 Bangladeshi pharmaceutical companies in operation. It is known as the fastest growing industry in the world. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. DATABD.CO is a one-stop source for business data in Bangladesh. 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. 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. It remains likely that import restrictions will stay in place, and local companies will continue to dominate the pharmaceutical market. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. Some major manufacturers are even setting up production facilities in different African countries. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. It is the second largest contributor to the country’s economy. 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/. 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. 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. Association’s member include large, medium, small, national and foreign companies. World’s top quality pharmaceutical companies in Bangladesh. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. 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. In Bangladesh, Pharmaceuticals is one of the fastest growing sectors. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 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. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. BAPI has been enrolled as member of International Federation of Pharmaceutical Manufacturers Association (IFPMA), Geneva. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. The industry also exports medicines to global markets, including Europe. Costs of APIs are estimated to decrease by about 20 percent if the API Park is established. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. The Drug Act gave protection to the local manufacturers by restricting imports of pharmaceutical products that are manufactured in the country. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical products. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. 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. Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). Some of these companies are also emerging as competitors to Indian firms in certain areas. in the essential drug list. Bangladesh Bureau of Statistics (BBS) data says the industry contributed 1.85% of the GDP in FY17. Since then BAPI playing a pivotal role in shaping up the industry. 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. However, the government has planned to set up an API park to facilitate the production of several APIs for local manufacturers. Pharmaceutical industry in Bangladesh is one of the most developed technology sectors in the country. Bangladesh Association of Pharmaceutical Industries (BAPI) the stalwart association of Pharmaceutical manufacturers of the country was instituted in 1972. 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, … Incepta Pharmaceuticals Ltd. With two largest manufacturing plant facility in the capital city of … Manufacturers produce the most 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. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 1.1 Background. Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. Bangladesh manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. The government has given support to the manufacturing industry for decades. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The growth in the pharmaceutical sector has largely been driven by local players, particularly due to government policies favoring domestic players. Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. Moreover, few companies are on the road to achieve US-FDA approval. According to industry people, Bangladesh imports 99.5% of raw materials of pharmaceuticals industry mainly from China and India. 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. Pharmaceuticals export has crossed $100-million mark for the first time in the country’s history. 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. As a result, medicine prices have remained within reach of the mass population. Manufacturers produce insulin, hormones, and cancer drugs. Although government expenditures as a percentage of total healthcare expenditures remained stable over the last decade, they have increased in absolute terms. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. Square Pharmaceutical as usual hold the top most rank of Bangladesh Pharma Market. 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 … More than ten leading Bangladeshi pharmaceutical companies are exporting generics to international markets. 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. Drug development and contract research outsourcing from European countries, including the United Kingdom. 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 industry is highly concentrated as the top 20 companies generate 85 percent of the revenue. There are about 450 generics registered in Bangladesh. Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. for quality management and quality products manufacturing. 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. 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. Healthcare Pharmaceutical ltd made a great jump to 12th position. Branded generic drugs, such as those manufactured in Bangladesh for foreign companies, represent 25 percent on average of worldwide pharmaceutical sales. 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). 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. 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. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. 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). Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. Pharmaceutical industry of Bangladesh is largely protected from external competition, as there is a restriction regarding import of similar drugs that is manufactured locally. INTRODUCTION. 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. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. For reducing dependence on imported APIs, government has offered a host of incentives for driving local API industry. 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. According to IMS Health, annual pharmaceutical sales in the local market may reach BDT 160 billion within 2018. 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. Out of these 450 generics, 117 are in the controlled category i.e. This sector provides 97% of the total medicinal requirement of the local market. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. 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. Local manufacturers dominate the industry, enjoying about 90 percent market share while multinationals hold 10 percent. Bangladesh Pharmaceutical Industry is now heading towards self-sufficiency in pharmaceuticals. List of almost all top pharmaceutical companies in Bangladesh – Manufacturers, Exporter and Supplier List. The pharmaceutical market trend is shifting toward unconventional drugs where there is greater opportunity for foreign investment. At the same time, … Work for establishing an API industry park is progressing, albeit slowly, at Gojaria in Munshiganj. 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. 8,000 Cr market, which is growing at 25% rate. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. 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. Bangladeshi pharmaceutical companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United States, Australia, Canada and Europe. The industry also exports medicines to global markets, including Europe. Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. Follow us on your favorite social media network. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. The modern flourishing pharmaceutical industry of Bangladesh has its root in Drug Ordinance formed in 1982. The industry meets 98% of the demand for medication in the country and can be considered to be self-sufficient. To a … Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. 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. 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. The discussion will, however, begin with a brief overview of the global pharmaceutical industry. 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 Bangladesh exported pharmaceutical products to 105 countries. 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. As the country shifts to high-value manufactured products from low-value products like RMG, the future of this industry is under intense scrutiny. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. This sector provides 97% of the total medicinal requirement of the local market. 1. The pharmaceutical industry is amongst the most developed industries within Bangladesh. The rules and regulations of the Drug Act forms the foundation of the current industry. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical … Hence, Bangladesh’s government is keen on fostering the backward linkage by developing API manufacturing capability. 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. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. 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. About 85 percent of the drugs sold in Bangladesh are generic and 15 percent are patented drugs. Two organizations regulate drugs and pharmacies in Bangladesh. 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. Manufacturers produce insulin, hormones, and cancer drugs. Overview Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). 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. 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. Two-Digit growth rate, the future of this sector in Bangladesh was in a derogatory state upgrading manufacturing and! 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The platform is aimed at facilitating access to industry datasets in meaningful formats. 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. Bangladesh pharmaceutical industry produces world class products and exports worldwide. 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). These hospitals have become popular due to their high-quality service. The income base of the population has been growing over the last decade. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … Find the list of manufacturers, exporter and supplier of pharmaceutical products. Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. 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. Local Production (97% of market, estimated), $U.S. 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. It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. 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. Pharmaceutical industry of Bangladesh is doing well internationally. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. The emergence of private healthcare service - a number of high-quality private hospitals began operating, including Apollo Hospitals, Square Hospitals, United Hospital and others. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. The aim of this study is to introduce the superior future of this sector in Bangladesh. Industry people said the local packaging industry is growing at a rate of 10 percent a year. Bangladeshi pharmaceutical companies focus primarily on branded generic final formulations, using both imported and domestically produced Active Pharmaceutical Ingredients (APIs). Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. This expectation is supported […] The pharmaceutical industry is fast becoming self-sufficient in packaging and meets more than 90 percent of the need, which was previously import-dependent. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. Copyright © 2018 - 2021 LightCastle Partners Ltd. Don't miss the next market & industry insight. Bangladesh’s pharmaceutical industry is unique among least developed countries (LDCs). The industry suffered the greatest negligence during the Pakistan… The top-ranking companies have already developed world-class pharmaceutical plants with state-of-the-art technology. Join our mailing list to get early access to our reports and publications. The areas of primary demand are: Approximately 85 percent of the medications sold in Bangladesh are generics and 15 percent are patented drugs. This industry is the second largest contributor to national exchequer. There are currently around 100 Bangladeshi pharmaceutical companies in operation. It is known as the fastest growing industry in the world. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. DATABD.CO is a one-stop source for business data in Bangladesh. 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. 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. It remains likely that import restrictions will stay in place, and local companies will continue to dominate the pharmaceutical market. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. Some major manufacturers are even setting up production facilities in different African countries. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. It is the second largest contributor to the country’s economy. 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/. 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. 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. Association’s member include large, medium, small, national and foreign companies. World’s top quality pharmaceutical companies in Bangladesh. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. 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. In Bangladesh, Pharmaceuticals is one of the fastest growing sectors. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 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. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. BAPI has been enrolled as member of International Federation of Pharmaceutical Manufacturers Association (IFPMA), Geneva. The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within Bangladesh. The industry also exports medicines to global markets, including Europe. Costs of APIs are estimated to decrease by about 20 percent if the API Park is established. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. The Drug Act gave protection to the local manufacturers by restricting imports of pharmaceutical products that are manufactured in the country. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical products. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. 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. Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). Some of these companies are also emerging as competitors to Indian firms in certain areas. in the essential drug list. Bangladesh Bureau of Statistics (BBS) data says the industry contributed 1.85% of the GDP in FY17. Since then BAPI playing a pivotal role in shaping up the industry. 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. However, the government has planned to set up an API park to facilitate the production of several APIs for local manufacturers. Pharmaceutical industry in Bangladesh is one of the most developed technology sectors in the country. Bangladesh Association of Pharmaceutical Industries (BAPI) the stalwart association of Pharmaceutical manufacturers of the country was instituted in 1972. 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, … Incepta Pharmaceuticals Ltd. With two largest manufacturing plant facility in the capital city of … Manufacturers produce the most 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. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 1.1 Background. Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. Bangladesh manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. The government has given support to the manufacturing industry for decades. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. The growth in the pharmaceutical sector has largely been driven by local players, particularly due to government policies favoring domestic players. Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. Moreover, few companies are on the road to achieve US-FDA approval. According to industry people, Bangladesh imports 99.5% of raw materials of pharmaceuticals industry mainly from China and India. 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. Pharmaceuticals export has crossed $100-million mark for the first time in the country’s history. 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. As a result, medicine prices have remained within reach of the mass population. Manufacturers produce insulin, hormones, and cancer drugs. Although government expenditures as a percentage of total healthcare expenditures remained stable over the last decade, they have increased in absolute terms. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. Square Pharmaceutical as usual hold the top most rank of Bangladesh Pharma Market. 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 … More than ten leading Bangladeshi pharmaceutical companies are exporting generics to international markets. 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. Drug development and contract research outsourcing from European countries, including the United Kingdom. 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 industry is highly concentrated as the top 20 companies generate 85 percent of the revenue. There are about 450 generics registered in Bangladesh. Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. for quality management and quality products manufacturing. 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. 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. Healthcare Pharmaceutical ltd made a great jump to 12th position. Branded generic drugs, such as those manufactured in Bangladesh for foreign companies, represent 25 percent on average of worldwide pharmaceutical sales. 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). 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. 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. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. 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). Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. Pharmaceutical industry of Bangladesh is largely protected from external competition, as there is a restriction regarding import of similar drugs that is manufactured locally. INTRODUCTION. 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. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. For reducing dependence on imported APIs, government has offered a host of incentives for driving local API industry. 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. According to IMS Health, annual pharmaceutical sales in the local market may reach BDT 160 billion within 2018. 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. Out of these 450 generics, 117 are in the controlled category i.e. This sector provides 97% of the total medicinal requirement of the local market. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. 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. Local manufacturers dominate the industry, enjoying about 90 percent market share while multinationals hold 10 percent. Bangladesh Pharmaceutical Industry is now heading towards self-sufficiency in pharmaceuticals. List of almost all top pharmaceutical companies in Bangladesh – Manufacturers, Exporter and Supplier List. The pharmaceutical market trend is shifting toward unconventional drugs where there is greater opportunity for foreign investment. At the same time, … Work for establishing an API industry park is progressing, albeit slowly, at Gojaria in Munshiganj. 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. 8,000 Cr market, which is growing at 25% rate. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. 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. Bangladeshi pharmaceutical companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United States, Australia, Canada and Europe. The industry also exports medicines to global markets, including Europe. Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. Follow us on your favorite social media network. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. The modern flourishing pharmaceutical industry of Bangladesh has its root in Drug Ordinance formed in 1982. The industry meets 98% of the demand for medication in the country and can be considered to be self-sufficient. To a … Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. 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. 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. The discussion will, however, begin with a brief overview of the global pharmaceutical industry. 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 Bangladesh exported pharmaceutical products to 105 countries. 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. As the country shifts to high-value manufactured products from low-value products like RMG, the future of this industry is under intense scrutiny. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. This sector provides 97% of the total medicinal requirement of the local market. 1. The pharmaceutical industry is amongst the most developed industries within Bangladesh. The rules and regulations of the Drug Act forms the foundation of the current industry. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical … Hence, Bangladesh’s government is keen on fostering the backward linkage by developing API manufacturing capability. 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. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. 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. About 85 percent of the drugs sold in Bangladesh are generic and 15 percent are patented drugs. Two organizations regulate drugs and pharmacies in Bangladesh. 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. Manufacturers produce insulin, hormones, and cancer drugs. Overview Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). 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. 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. Two-Digit growth rate, the future of this sector in Bangladesh was in a derogatory state upgrading manufacturing and! 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