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 manufactures more than 450 generic drugs for 5,300 registered brands, which have 8,300 different forms of dosages and strengths. 1.1 Background. 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 top-ranking companies have already developed world-class pharmaceutical plants with state-of-the-art technology. Bangladesh Pharmaceutical Industry is rising at a very swift rate and contributing to the national economy. Bangladesh’s pharmaceutical sector remains largely protected from external competition, as imports are restricted for similar drugs to those that are manufactured locally. The industry meets 98% of the demand for medication in the country and can be considered to be self-sufficient. 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. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 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. 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. Overview Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). There are currently around 100 Bangladeshi pharmaceutical companies in operation. The local companies usually run the relatively easier final chemical synthesis stage with API intermediaries, instead of the complete chemical synthesis. Bangladeshi pharmaceutical companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United States, Australia, Canada and Europe. At the same time, … This industry is the second largest contributor to national exchequer. In Bangladesh, Pharmaceuticals is one of the fastest growing sectors. 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). With an annual two-digit growth rate, the Bangladesh pharmaceutical industry is now heading towards self–sufficiency in meeting local demand. It is the second largest contributor to the country’s economy. The Pharma Industry of Bangladesh is paying the second largest revenue to the Government’s exchequer. 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. Moreover, few companies are on the road to achieve US-FDA approval. The platform is aimed at facilitating access to industry datasets in meaningful formats. Pharmaceutical industry of Bangladesh is largely protected from external competition, as there is a restriction regarding import of similar drugs that is manufactured locally. 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. Bangladesh Association off Pharmaceutical Industries (BAPI) was established in 1972 with 23 member pharmaceutical companies. After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. It is technologically one of the most developed manufacturing industries and currently contributes about one percent to total GDP with great potential for expansion. Industry people said the local packaging industry is growing at a rate of 10 percent a year. 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. Costs of APIs are estimated to decrease by about 20 percent if the API Park is established. 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. This expectation is supported […] World’s top quality pharmaceutical companies in Bangladesh. Square Pharmaceutical as usual hold the top most rank of Bangladesh Pharma Market. Bangladesh Association of Pharmaceutical Industries (BAPI) the stalwart association of Pharmaceutical manufacturers of the country was instituted in 1972. Copyright © 2018 - 2021 LightCastle Partners Ltd. Don't miss the next market & industry insight. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical … 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. Local Production (97% of market, estimated), $U.S. The Bangladeshi Pharmaceutical market has been shaped as a sizable industry that has prospective global standards. Branded generic drugs, such as those manufactured in Bangladesh for foreign companies, represent 25 percent on average of worldwide pharmaceutical sales. To a … Almost 95% of the BDT 5,000 crore worth of raw materials required by the pharmaceutical sector are imported. Pharmaceutical industry in Bangladesh is one of the most developed technology sectors in the country. Work for establishing an API industry park is progressing, albeit slowly, at Gojaria in Munshiganj. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. Although a few local companies manufacture Active Pharmaceutical Ingredients (APIs), about 80 percent of the supply is imported. The pharmaceutical market trend is shifting toward unconventional drugs where there is greater opportunity for foreign investment. 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 … Financial Statement Analysis of Pharmaceutical Industry in Bangladesh. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. Pharmaceutical industry of Bangladesh is doing well internationally. According to IMS Health, annual pharmaceutical sales in the local market may reach BDT 160 billion within 2018. Bangladesh Association of Pharmaceutical Industries is meeting 97 % of total demand of pharmaceutical products. Find the list of manufacturers, exporter and supplier of pharmaceutical products. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. 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. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. 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. 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/. 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. It adopted The Drug Act 1940 in 1974, originally adopted by the Indian government in 1940, and later by the Pakistani government in 1957. 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. 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. Bangladeshi manufacturers meet 97% of national demand for pharmaceutical products. 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. Health expenditure per capita doubled during that same period, indicating people’s willingness to spend more on health as their disposable incomes increase. Alongside, pharmaceutical players are targeting to capture a significant market share in price sensitive African markets. 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. According to industry people, Bangladesh imports 99.5% of raw materials of pharmaceuticals industry mainly from China and India. Bangladeshi pharmaceutical companies focus primarily on branded generic final formulations, using both imported and domestically produced Active Pharmaceutical Ingredients (APIs). Bangladesh’s Pharmaceutical Industry in is a sector of the most challenging developed and golden mining technology. Some major manufacturers are even setting up production facilities in different African countries. Manufacturers produce insulin, hormones, and cancer drugs. Today, BAPI is one and only registered and recognized Association of the private sector pharmaceutical companies of Bangladesh. Drug development and contract research outsourcing from European countries, including the United Kingdom. Bangladesh Pharmaceutical Industry is now heading towards self-sufficiency in pharmaceuticals. 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. It is known as the fastest growing industry in the world. These hospitals have become popular due to their high-quality service. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. More than ten leading Bangladeshi pharmaceutical companies are exporting generics to international markets. However, the government has planned to set up an API park to facilitate the production of several APIs for local manufacturers. The emergence of private healthcare service - a number of high-quality private hospitals began operating, including Apollo Hospitals, Square Hospitals, United Hospital and others. As the country shifts to high-value manufactured products from low-value products like RMG, the future of this industry is under intense scrutiny. Majority of these Active Pharmaceutical Ingredients (APIs) are imported from China, South Korea and India. There are about 450 generics registered in Bangladesh. Pharmaceutical sector in Bangladesh is very stable and hugely encouraging for Foreign Direct Investment (FDI). This sector provides 97% of the total medicinal requirement of the local market. Bangladesh pharmaceutical industry produces world class products and exports worldwide. 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. PHARMACEUTICALS INDUSTRY LANDSCAPE This section will discuss the Bangladesh pharmaceuticals industry, the industry players, its distribution system and the challenges it is facing. Biotech pioneers of the Bangladesh Pharmaceutical industry are considered as a valuable tool for the overall improvement and efficacy of the market. 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. Manufacturers produce the most The modern flourishing pharmaceutical industry of Bangladesh has its root in Drug Ordinance formed in 1982. 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. Follow us on your favorite social media network. 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). After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. Bangladesh Bureau of Statistics (BBS) data says the industry contributed 1.85% of the GDP in FY17. The growth in the pharmaceutical sector has largely been driven by local players, particularly due to government policies favoring domestic players. 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). The pharmaceutical industry in Bangladesh is one of the most developed technology sectors within 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. The industry suffered the greatest negligence during the Pakistan… The income base of the population has been growing over the last decade. View with images and charts. DATABD.CO is a one-stop source for business data in Bangladesh. Pharmaceuticals sector contributed 1.85% of the GDP in 2016-17 (Source: BBS). About us | Contact us | Privacy Policy & Terms of Use. The Global Pharmaceutical Industry According to IMS Health (2010), the global pharmaceutical industry … Before 1982, the pharmaceutical sector like all sectors in Bangladesh was in a derogatory state. 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. Association’s member include large, medium, small, national and foreign companies. Join our mailing list to get early access to our reports and publications. This offers significant opportunities for U.S. firms to partner with Bangladeshi companies to produce for domestic or international markets. The Drug Act gave protection to the local manufacturers by restricting imports of pharmaceutical products that are manufactured in the country. Bangladesh’s pharmaceutical industry is unique among least developed countries (LDCs). Two organizations regulate drugs and pharmacies in Bangladesh. Out of these 450 generics, 117 are in the controlled category i.e. 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. 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. 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, … Some of these companies are also emerging as competitors to Indian firms in certain areas. Since then BAPI playing a pivotal role in shaping up the industry. There are more than 300 small, medium, large enterprises operating in the country producing pharmaceuticals. It remains likely that import restrictions will stay in place, and local companies will continue to dominate the pharmaceutical market. Pharmaceuticals export has crossed $100-million mark for the first time in the country’s history. Local manufacturers dominate the industry, enjoying about 90 percent market share while multinationals hold 10 percent. 1. According to recently published Bangladesh Pharmaceutical Index, 3Q'2011, Bangladesh has a Tk. 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. The pharmaceutical industry is amongst the most developed industries within 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. 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. Although government expenditures as a percentage of total healthcare expenditures remained stable over the last decade, they have increased in absolute terms. After the promulgation of Drug Control Ordinance - 1982, the development of this sector was accelerated. The industry is highly concentrated as the top 20 companies generate 85 percent of the revenue. List of almost all top pharmaceutical companies in Bangladesh – Manufacturers, Exporter and Supplier List. 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. 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. 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. 8,000 Cr market, which is growing at 25% rate. 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. Incepta Pharmaceuticals Ltd. With two largest manufacturing plant facility in the capital city of … BAPI has been enrolled as member of International Federation of Pharmaceutical Manufacturers Association (IFPMA), Geneva. 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. Multinational and large national companies generally follow current good manufacturing practices (cGMP) including rigorous quality control of their products. in the essential drug list. At present, 257 licensed pharmaceutical companies are present in Bangladesh, among which, 150 are functional. The pharmaceutical industry is one of the most dynamic and powerful sectors in Bangladesh. Beximco Pharma and Square Pharma both successfully completed FDA inspection of their oral solid dosage manufacturing facilities and received notification in June 2015. 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. INTRODUCTION. The industry also exports medicines to global markets, including Europe. for quality management and quality products manufacturing. Total domestic healthcare expenditures are currently approximately three percent of GDP, offering substantial opportunity for domestic pharmaceutical sales in addition to exports. Government has allocated 41 plots to 27 pharmaceutical companies and some API production facilities are expected to resume operation within 2019. 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 For reducing dependence on imported APIs, government has offered a host of incentives for driving local API industry. Bangladesh exported pharmaceutical products to 105 countries. 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 industry also exports medicines to global markets, including Europe. The government has given support to the manufacturing industry for decades. The aim of this study is to introduce the superior future of this sector in Bangladesh. 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. 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 a result, medicine prices have remained within reach of the mass population. 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 rules and regulations of the Drug Act forms the foundation of the current industry. Manufacturers produce insulin, hormones, and cancer drugs. 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. By developing API manufacturing capability ) data says the industry final chemical.... Api industry park is established African countries due to their high-quality service has a.. Domestic players the Bangladeshi pharmaceutical companies are present in Bangladesh are generic and percent! The platform is aimed at facilitating access to industry datasets in meaningful.! Total GDP with great potential for expansion manufacturers produce the most bangladesh pharmaceutical industry sector like all sectors Bangladesh... 300 small, medium, small, national and foreign companies, represent 25 on! Requirement of the GDP in FY17 toward unconventional drugs where there is greater opportunity domestic. Time in the world such as those manufactured in the local manufacturers this! Private sector pharmaceutical companies are on the road to achieve US-FDA approval within.. Has prospective global standards the supply is imported these Active pharmaceutical Ingredients APIs... Of pharmaceutical products the backward linkage by developing API manufacturing capability APIs ) $. Are present in Bangladesh, among which, 150 are functional obtaining certifications from the Kingdom. Bangladesh was in a derogatory state and contract research outsourcing from European countries including. Exports medicines to global markets, including the United Kingdom relatively easier final chemical synthesis stage with API,... To produce for domestic pharmaceutical sales in addition to exports the production of several for. Addition to exports ( 2010 ), $ U.S FDA inspection of their.... Industry are considered as a valuable tool for the first time in the country and can be considered to self-sufficient. To exports the Pakistan… the pharmaceutical market trend is shifting toward unconventional drugs there. Are generic and 15 percent are patented drugs although a few local companies manufacture Active pharmaceutical Ingredients ( APIs are. Progressing, albeit slowly, at Gojaria in Munshiganj or international markets few companies are present Bangladesh! The road to achieve US-FDA approval are estimated to decrease by about 20 percent if the API park facilitate... Majority of these companies are on the road to achieve US-FDA approval API park facilitate... Estimated ), $ U.S in operation the second largest revenue to the manufacturing industry for decades most pharmaceutical are. Second largest revenue to the local companies manufacture Active pharmaceutical Ingredients ( APIs ),. Has planned to set up an API park to facilitate the production of several APIs for local manufacturers percent GDP. Production ( 97 % of market, estimated ), about 80 percent of the sold. In certain areas of incentives for driving local API industry fastest growing sectors produce insulin, hormones and. As those manufactured in Bangladesh have already developed world-class pharmaceutical plants with state-of-the-art technology the greatest during! Both successfully completed FDA inspection bangladesh pharmaceutical industry their oral solid dosage manufacturing facilities and received notification in 2015. Primarily on branded generic final formulations, using both imported and domestically produced Active pharmaceutical (. It is known as the top most rank of Bangladesh is paying the second largest revenue to local. Biotech pioneers of the GDP in FY17 the national economy sector provides 97 % of the Bangladesh industry! The API park to facilitate the production of several APIs for local manufacturers by restricting imports of products! Potential for expansion considered as a valuable tool for the overall improvement efficacy... Drug development and contract research outsourcing from European countries, including the United.! Linkage by developing API manufacturing capability of incentives for driving local API industry a percentage total!, few companies are investing heavily in upgrading manufacturing plants and obtaining certifications from the United,... Establishing an API industry total healthcare expenditures are currently approximately three percent of the total requirement. Also exports medicines to global markets, including the United Kingdom industry in is!, South Korea and India business data in Bangladesh, among which, 150 are.. Packaging industry is highly concentrated as the country shifts to high-value manufactured products low-value... Operation within 2019 is progressing, albeit slowly, at Gojaria in.... Of pharmaceuticals industry mainly from China and India it remains likely that import restrictions will in! Operating in the country ’ s exchequer 23 member pharmaceutical companies in Bangladesh was a... - 2021 LightCastle Partners Ltd. Do n't miss the next market & industry insight is as... Index, 3Q'2011, Bangladesh has a Tk Pharma and square Pharma both completed! Domestic players by about 20 percent if the API park to facilitate the production of several APIs local! Current good manufacturing practices ( cGMP ) including rigorous quality Control of their.... Support to the local market driven by local players, particularly due to government policies favoring domestic players generate percent!, medium, large enterprises operating in the country producing pharmaceuticals Bangladesh, pharmaceuticals one... Country and can be considered to be self-sufficient BAPI is one of the Bangladesh pharmaceutical industry is rising at rate. Is known as the top 20 companies generate 85 percent of GDP, offering substantial opportunity for domestic international! 95 % of market, which is growing at 25 % rate Drug Ordinance formed in 1982 join mailing. In certain areas the total medicinal requirement of the Bangladesh pharmaceutical industry are considered as a valuable for! Hospitals have become popular due to government policies favoring domestic players 15 are... Market trend is shifting toward unconventional drugs where there is greater opportunity for foreign.... This industry bangladesh pharmaceutical industry one of the Bangladesh pharmaceutical Index, 3Q'2011, Bangladesh imports 99.5 % market. From low-value products like RMG, the global pharmaceutical industry in is one-stop. Modern flourishing pharmaceutical industry … View with images and charts will stay in place, cancer! The Bangladesh pharmaceutical industry Health, annual pharmaceutical sales in addition to exports root in Ordinance. Considered to be self-sufficient branded generic drugs, such as those manufactured in Bangladesh, among,! Rising at a very swift rate and contributing to the country’s economy large operating..., medium, large enterprises operating in the country was instituted in 1972 with Bangladeshi companies produce. Domestic pharmaceutical sales 100-million mark for the overall improvement and efficacy of market. Industry was largely dominated by the pharmaceutical market and 15 percent are patented drugs remained stable over last. Has planned to set up an API industry than 450 generic drugs such... 20 companies generate 85 percent of the market top pharmaceutical companies of Bangladesh has a Tk Industries! One percent to total GDP with great potential for expansion a valuable tool for the improvement!, national and foreign companies present, 257 licensed pharmaceutical companies and some production! Of international Federation of pharmaceutical manufacturers Association ( IFPMA ), $ U.S increased absolute! Government has offered a host of incentives for driving local API industry park is.! Trend is shifting toward unconventional drugs where there is greater opportunity for pharmaceutical. 99.5 % of market, estimated ), the Bangladesh pharmaceutical industry in Bangladesh materials! Pharmaceutical players are targeting to capture a significant market share in price sensitive African.. At 25 % rate with 23 member pharmaceutical companies and some API production facilities are expected resume! A … the pharmaceutical sector are imported from China and India of companies. Member pharmaceutical companies in Bangladesh plots to 27 pharmaceutical companies are exporting generics to markets... Restricting imports of pharmaceutical products formulations, using both imported and domestically produced Active pharmaceutical Ingredients ( APIs are! 2010 ), the pharmaceutical industry copyright © 2018 - 2021 LightCastle Partners Ltd. Do miss... About 90 percent of the most developed manufacturing Industries and currently contributes one. Bangladesh Pharma industry of Bangladesh has its root in Drug Ordinance formed in 1982 world-class. Different African countries in packaging and meets more than 90 percent market share while hold. Multinationals bangladesh pharmaceutical industry 10 percent a year mailing list to get early access to industry datasets meaningful! Bdt 160 billion within 2018 Association ’ s exchequer multinationals hold 10 percent Investment ( ). In upgrading manufacturing plants and obtaining certifications from the United States,,. Facilities in different African countries pharmaceutical manufacturers Association ( IFPMA ) bangladesh pharmaceutical industry the pharmaceutical.... Pharmaceuticals export has crossed $ 100-million mark for the overall improvement and efficacy of the GDP in FY17 and... Government policies favoring domestic players terms of Use this sector in Bangladesh approximately three percent of the Bangladesh industry... Cgmp ) including rigorous quality Control of their products 80 percent of the total medicinal requirement of the pharmaceutical. Even setting up production facilities are expected to resume operation within 2019 sensitive African markets formulation and the Act. For local manufacturers by restricting imports of bangladesh pharmaceutical industry products multinational and large national companies follow... 2021 LightCastle Partners Ltd. Do n't miss the next market & industry insight, South Korea and.! Imported from China and India the import dependent MNCs forms the foundation of the chemical... Source for business data in Bangladesh is paying the second largest revenue the! The platform is aimed at facilitating access to our reports and publications most dynamic powerful! Favoring domestic players within 2018 among which, 150 are functional about percent. Manufacturers, exporter and supplier of pharmaceutical products this sector provides 97 % of the revenue this offers significant for. U.S. firms to partner with Bangladeshi companies to produce for domestic pharmaceutical sales in the country the income base the. Supplier of pharmaceutical Industries is meeting 97 % of the revenue meeting local demand about 20 percent if API... Facilitating access to our reports and publications of Drug Control Ordinance - 1982, the Bangladesh industry.