The pharmaceutical industry is one of the most developed technology sectors in Bangladesh. Manufacturers produce almost all type of medicine which includes high tech products like insulin, hormones, anti-cancer products etc. This sector provides 98% of the total medicinal requirement of the local market. The industry also exports medicines to 150+ countries, including USA, UK, Canada, Australia, Germany, EU etc. Pharmaceutical companies are expanding their business with the aim to expand the export market.
The Pharmaceutical sector of Bangladesh has been transforming and evolving since the early 80s. The sector has grown from strength to strength over the last 5 decades. Since this is a technology and knowledge based sector; the journey was not an easy one for a LDC country faced with enormous economic challenges. Now, Bangladesh proudly stands alone as the only LDC that has a well-developed pharma sector.
Revenue of Bangladesh Pharmaceutical Industry
(US $ Mn)
-
3,500
-
3,000
-
2,500
-
2,000
-
1,500
-
1,000
2017
2018
2019
2020
2021
*considering current currency exchange rate (1 US $= 85 BDT)
Source: MAT Q3, 2021
Bangladesh Pharmaceutical Market Segments by Share
Source: MAT Q3, 2021
- Emerging generic drug hub in Asia
- Nearly self-sufficient; 98% demand met by local production
- Total market size approx. $3.2 Bn in 2021 with growth rate of 10.72%
- Historically good market growth maintained (CAGR 8.93% in last 4 years)
- Strong manufacturing base with skilled manpower
- Largest white collar labor intensive employment sector in Bangladesh
- 2nd highest contributor to national exchequer
- Registered allopathic pharmaceutical companies: 284 & functional around 213
- All the top 10 companies are local and they have approx. 70% market share
- Leading companies have nearly all major GMP accreditation like USFDA, UK MHRA, EU GMP, Health Canada, TGA Australia, ANVISA Brazil, GCC etc.
Bangladesh Pharma has high capability in Specialized Pharmaceutical Products
The industry continues its strong research orientation in generic formulation development and has already proven its skills with successful development of specialized, high-tech formulations which are very difficult to imitate. Leading companies have focused on specialized dosage delivery systems to create strong differentiation and successfully developed metered dose inhaler (MDI), dry powder inhaler (DPI), lyophilized injectables, sterile ophthalmics, prefilled syringes, oral thin films, multi-layer tablets, biological products, including insulin, vaccines etc.