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The Pharmaceutical Market: Bangladesh
Management Report
Published: January 2010
Pages: 46
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 595.00 Buy Now!
Research from: Espicom
Sector: Prescription Medicines
Espicom’s in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Bangladesh has a large generics market, and companies such as Square and Beximco are beginning to have success overseas. This report is ideal for executives wanting to understand the key drivers in the pharmaceutical market and have access to a wealth of statistical data, including five-year market projections. Quarterly updated reports are included in the price, enabling you to keep up to date with market developments for a year.Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
BANGLADESH - MARKET REVIEW
Official reporting of Bangladesh’s health spending is scarce, and the figures are inconsistently published; the country is also heavily reliant on foreign aid. That said, it does appear that expenditure is increasing. Coverage for outpatient services remains very poor; in recent development plans, the government has concentrated on boosting rural primary care, somewhat to the neglect of that in urban areas. Despite this, there remains a serious lack of funding, infrastructure and trained personnel throughout the primary care sector. For example, in 2006 Bangladesh had the lowest physician rate in the world, although Espicom projects it to overtake Thailand and Indonesia in 2010. The National Drug Policy of 2005 was a great step forward for Bangladesh. However, understaffing and a lack of funding at the Directorate of Drug Administration (DDA) have resulted in serious safety breaches in pharmaceutical manufacture, such as the scandal involving Rid Pharmaceuticals which resulted in the deaths of 24 children.
The Directorate of Drug Administration (DDA) under the Ministry of Health & Family Welfare, is the drug regulatory authority of the country. The DDA has been criticised in recent months for its failure to properly monitor the standard of medicines in Bangladesh; the Administration itself argues that it does not have enough manpower to monitor all domestic manufacturers. However, the chairman of the Bangladesh Pharmaceutical Society, Professor ABM Faroque, argues “if it cannot properly monitor because of a lack of manpower why does the government agency give permission to so many companies to produce medicines?”. The DDA is also unable to regulate the OTC market in Bangladesh. A recent study argues that unscrupulous drug sellers sell almost 90% of the stocked drugs without prescription. Therefore, the only obstacle to a drug becoming an OTC drug in Bangladesh is the money needed to buy it. Bangladesh is an extremely poor country, and many of the population cannot afford to see health professionals when they fall ill. There has therefore been a long tradition of self-medication, which, for a country where many citizens are uneducated, leads to the misuse of drugs.
Unlike in other markets, the Bangladesh pharmaceutical distribution network tends to be more retail-orientated and the bulk of distribution is done by the companies themselves. However, drug stores at Dhaka's major wholesale market closed their shutters in November 2009 in protest against the arrest of their fellow traders in the port city of Chittagong. An anarchic situation is prevailing in the marketing and sales of medicines in the Bangladesh; thousands of illegal and unlicensed drug stores exist in the country.
Due to the sheer size of the population, Bangladesh cannot simply be dismissed. The country has a large generics market, and companies such as Square and Beximco are beginning to have success overseas. However, despite the country possessing huge manufacturing capabilities which supply 96% of domestic need, the complete lack of R&D in domestic companies could cause the market to stagnate, especially if companies have not evolved by the time the TRIPS agreement comes into effect. Having said that, multinationals should view Bangladesh as a possible manufacturing base. The balance of pharmaceutical trade remains negative, but it is difficult to project how the balance will change throughout the forecast period. On the one hand, the statistics, as well as government bodies, indicate that exports are rising, which will lower the deficit; the DDA also argues that the domestic production of raw materials is increasing. On the other hand, however, Bangladesh’s pharmaceutical reputation may have been tarnished by the recent scandal involving Rid Pharmaceuticals, which could result in fewer exports of domestically-produced drugs.
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
BANGLADESH - MARKET REVIEW
Official reporting of Bangladesh’s health spending is scarce, and the figures are inconsistently published; the country is also heavily reliant on foreign aid. That said, it does appear that expenditure is increasing. Coverage for outpatient services remains very poor; in recent development plans, the government has concentrated on boosting rural primary care, somewhat to the neglect of that in urban areas. Despite this, there remains a serious lack of funding, infrastructure and trained personnel throughout the primary care sector. For example, in 2006 Bangladesh had the lowest physician rate in the world, although Espicom projects it to overtake Thailand and Indonesia in 2010. The National Drug Policy of 2005 was a great step forward for Bangladesh. However, understaffing and a lack of funding at the Directorate of Drug Administration (DDA) have resulted in serious safety breaches in pharmaceutical manufacture, such as the scandal involving Rid Pharmaceuticals which resulted in the deaths of 24 children.
The Directorate of Drug Administration (DDA) under the Ministry of Health & Family Welfare, is the drug regulatory authority of the country. The DDA has been criticised in recent months for its failure to properly monitor the standard of medicines in Bangladesh; the Administration itself argues that it does not have enough manpower to monitor all domestic manufacturers. However, the chairman of the Bangladesh Pharmaceutical Society, Professor ABM Faroque, argues “if it cannot properly monitor because of a lack of manpower why does the government agency give permission to so many companies to produce medicines?”. The DDA is also unable to regulate the OTC market in Bangladesh. A recent study argues that unscrupulous drug sellers sell almost 90% of the stocked drugs without prescription. Therefore, the only obstacle to a drug becoming an OTC drug in Bangladesh is the money needed to buy it. Bangladesh is an extremely poor country, and many of the population cannot afford to see health professionals when they fall ill. There has therefore been a long tradition of self-medication, which, for a country where many citizens are uneducated, leads to the misuse of drugs.
Unlike in other markets, the Bangladesh pharmaceutical distribution network tends to be more retail-orientated and the bulk of distribution is done by the companies themselves. However, drug stores at Dhaka's major wholesale market closed their shutters in November 2009 in protest against the arrest of their fellow traders in the port city of Chittagong. An anarchic situation is prevailing in the marketing and sales of medicines in the Bangladesh; thousands of illegal and unlicensed drug stores exist in the country.
Due to the sheer size of the population, Bangladesh cannot simply be dismissed. The country has a large generics market, and companies such as Square and Beximco are beginning to have success overseas. However, despite the country possessing huge manufacturing capabilities which supply 96% of domestic need, the complete lack of R&D in domestic companies could cause the market to stagnate, especially if companies have not evolved by the time the TRIPS agreement comes into effect. Having said that, multinationals should view Bangladesh as a possible manufacturing base. The balance of pharmaceutical trade remains negative, but it is difficult to project how the balance will change throughout the forecast period. On the one hand, the statistics, as well as government bodies, indicate that exports are rising, which will lower the deficit; the DDA also argues that the domestic production of raw materials is increasing. On the other hand, however, Bangladesh’s pharmaceutical reputation may have been tarnished by the recent scandal involving Rid Pharmaceuticals, which could result in fewer exports of domestically-produced drugs.