Bdmedicines.com is a popular medicinal website in Bangladesh.

Bangladesh Pharmaceutical Market Analysis


A marketing analysis is a study of the vigorous activity and progress of the market. It is the attractiveness of a special market in a specific area. Marketing analysis is basically a business plan that presents information regarding the market in which you are operating in. It deals with various factors.

Before 1982 there were about 10 multinational companies availing about 80% of the domestic market. The situation is reverse now. Local companies cater to about more than 80% of the market now and the rest by the multinational. Local companies continued their expansions and up gradation of their facilities conforming to cGMP prescribed by WHO and by some leading companies to US FDA and UK MHRA standards.

According to the Directorate General of Drug Administration (DGDA), there are currently 200 active allopathic companies in Bangladesh.The large-scale players include Square Pharma, Incepta Pharma, Beximco Pharma, Opsonin, Eskayef Bangladesh, ACI Ltd., Renata and Aristopharma among others. Some renowned companies have already entered the highly regulated market and got the USFDA, UKMHRA, EU, TGA Australia and GCC approval and some are in the process to get the USFDA & UK MHRA approval.

Pharmaceuticals export has a bright future for Bangladesh and local companies are already competing with the pharmaceuticals from developing countries in Africa and South East Asia. Government is very supportive to these efforts and is planning to set up an Industrial park for Active Pharmaceutical Ingredients (API) to strengthen its position in this area.

The most important therapeutic group in the Bangladeshi pharma market are Systemic Antibiotics. They account for almost 30% of the market. The second therapeutic group, Anti-acids, are much less relevant in terms of market, as well as from a public health perspective. Vitamins, Analgesics, Mineral supplements, Cough and Cold preparations and muscle relaxants also figure prominently. It is to be noted, that typical developed market therapeutic groups like those addressing diabetes, cardiovascular diseases, allergies or psychological disorders also are among the most important in Bangladesh pharma market.

The domestic market is highly concentrated and competitive. However, the local manufacturers dominate the industry as they enjoy approximately 87% of market share, while multinationals hold a 13% share. Another notable feature of this sector is the concentration of sales among a very small number of top companies. The top 10 players control around two-third of the market share while the top 15 companies cover 77% of the market. So least companies should be more competitive with them to get a competitive pharma field in Bangladesh.

From the assumption of some marker specialist- by 2020 the current role of the pharmaceutical industry’s sales and marketing workforce will be replaced by a new model as the industry shifts from a mass-market to a target-market approach to increase revenue. Bangladeshi pharmaceutical companies also stat to follow this way. Where they lead a new marketing and sales system with a smaller, more agile and smarter sales force and try to demonstrate that their brand adds value to patients

As pharmaceutical industry is a separate industry from other industries. So pharmaceutical industry in Bangladesh have little or non-threatening competition and they get extra benefits on marketing and selling. But some of the companies misuse this opportunity. They forced to salesperson or doctors for extra selling and prescribing.

Basically, there are three distribution channel systems in Bangladesh: public hospitals, private hospitals and private pharmacies. Public hospitals source mainly from the state-owned Essential Drugs Company Limited (EDCL), whereas private hospitals and pharmacies source from the private sector. However, public hospitals can also source from private pharmaceuticals through tender bids.

The Directorate General of Drug Administration (DGDA), the national drug regulative authority, regulates drug manufacturing, import and quality control of drugs in Bangladesh. It belongs to the Ministry of Health and Family Welfare.

Data from the Labor Force Survey of 2005/6 showed employment of 64,000 in the pharmaceutical sector of Bangladesh, of whom 3,000 were female. Now (2016) these amount may be doubled or more. There has been strong growth in employment, driven mainly by growing domestic market sales, but also by significant growth in exports. And this is a huge manpower utilization in Bangladesh.

Now we can say, Bangladeshi drug industries are showing their competitive performance by assuring proper qualities to manufacture drugs in local and global market. While some manufacturers are already able to produce world class quality drugs, others would require considerable assistance to be able to reach that target. And this Pharma Market is a great achievement for the country's economy.



Related Posts

0 comments:

Post a Comment

Note: Only a member of this blog may post a comment.