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 Current Scenario of Bangladesh Pharma market |
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| Update: 2011-01-20 |
In Bangladesh the pharmaceutical sector is one of the most developed hi-tech sectors
within the country's economy. After the promulgation of Drug Control Ordinance - 1982,
the development of this sector was accelerated. The professional knowledge, thoughts
and innovative ideas of the pharmaceutical professionals working in this sector are the
key factors for these developments. Due to recent development of this sector it is
exporting medicines to global market including European market. This sector is also
providing 97% of the total medicine requirement of the local market. Leading
pharmaceutical companies are expanding their business with the aim to expand export
market. Recently few new industries have been established with high tech equipments
and professionals which will enhance the strength of this sector
Two organizations, one government (Directorate of Drug Administration) and one semigovernment
(Pharmacy Council of Bangladesh), control pharmacy practice in
Bangladesh. The Bangladesh Pharmaceutical Society is affiliated with international
organizations International Pharmaceutical Federation and Commonwealth
Pharmaceutical Association.
According to Bangladesh Pharmaceuticals and Healthcare Report Q1 2011, Bangladesh
medicine sales reached Tk 7,000 crore in 2010. Business Monitor International in its
latest report (Q1 2011) said Bangladesh has moved up one place to occupy the 14th
position in 17 regional markets surveyed in BMIs Pharmaceutical & Healthcare Business
Environment Ratings for the Asia region. Still, Bangladesh has a long way to go, the
report said. This adjustment now sees Bangladesh placed below Vietnam and above Sri
Lanka. Bangladesh's pharmaceutical rating is 40.2 out of 100, a figure that has changed
marginally from the previous quarter but remains lower than the regional average of 53.1.
Globally, Bangladesh occupies 67th position in BMIs 83 market-strong pharmaceutical
universe.
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The industry players forecast the growth trend would take the sales volume to Tk 10,000
crore in 2011. Square, Beximco, Eskayef, Incepta and Acme are the top five
manufacturers by sales and growth rate.Beximco grew faster than other companies at a staggering 33 percent in 2010 with Tk
523 crore sales. Incepta's sales and growth rate were Tk 665 crore and 31 percent
respectively, followed by Acme's Tk 600 crore and 17 percent. Eskayef logged Tk 426
crore in sales and the growth rate was 27 percent, the third highest pace in the year, said a
company official.
“Increasing health consciousness and buying capacity have helped the industry grow
consistently,” said Mizanur Rahman Sinha, managing director of Acme Pharmaceuticals,
one of the fastest growing manufacturers. Sinha predicts the industry's total sales at Tk
10,000 crore in the current year.
Managing Director of Incepta Pharmaceuticals Abdul Muktadir echoed the same reason
for the market growth, but he is not surprised to see the success. Muktadir said 5 percent
GDP growth helps the pharma industry grow at 15 percent, and 6 percent and 7 percent
growth makes it 20 percent and 25 percent respectively.
Sales of Square Pharmaceuticals, the market leader, were Tk 1,270 crore in 2010, up
from Tk 1,116 crore a year ago. Sales grew 14 percent year-on-year .
AM Faruque, managing director and chief executive officer of Apex Pharma, finds
Bangladesh market to be a potential one. He thinks affordability and availability of
medicines will help the market boom in the next few years. Faruque said Apex Pharma,
which is not a big player now, will emerge as one of the top five companies in five years.
The present turnover of the company is Tk 60 crore only. “Apex is coming in a big way,”
said Faruque. Bill Mckean, a UK pharmacist who has recently joined Apex Pharma as its
chief technical officer, sees a huge prospect and high-quality players in the local
market.According to him, a large population and relaxation of trade related intellectual
property rights (TRIPS) for least developed countries are contributing to the market
growth. |
Source: The Daily Star |
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