An A-Z Pharmaceutical Industry: Bangladesh Perspective

What is it about?

After liberation, Bangladesh pharma industry was largely dominated by the import dependent MNCs. 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. After NDP formulation and the Drug Control Ordinance, there was a dramatic change of reverse. By 1994, a few pharma companies achieved a tremendous growth and they reinvest their profit for faster return. By next decade, Bangladesh is aiming to 30 world class drug manufacturers to establish strong footstep in global pharma market. Bangladesh, as an LDC got exempted from the obligation of patent and data protection in this arena until 2033. Interestingly, Bangladesh already passed across the LDC landmark to a developing country. So, there’s window of opportunity of more than a decade to grow further from that aspect. Methodology: The research comprised a year-round comprehensive data collection from newspapers, journals, newsletters, news reports and updates. The true focus was on historical data collection, current market scenario, projections by experts in related fields, drug dealers, mergers and acquisitions, market trend analysis reports and newer development prospects. Findings: Bangladesh pharma market has tremendous hope, although going through lots of anomalies. Reasons behind are economic development, population blast, investment scopes, FDIs along with many other unexplained matters. Research limitations: Market is too big to be explained in a single article. The term “A -Z” doesn’t reveal all information about Bangladesh pharma market is accomplished, rather 26 letters used in 26 headlines, that means 26 points of this market is discussed that surely comprised a greater part of it. Practical Implication: The soul of this article was to introduce students about Bangladesh pharma market, that they have very few ideas. Along with students, researchers and professionals of different background and disciplines, e.g. Pharmacists, marketers, finance companies and regulatory authorities have to acquire much from this article. Social Implication: Medicine manufacturers are an integral part of Bangladesh health sector. General people pay much interest but having little knowledge about them. The article should provide them a broader picture and unleash many unseen facts.

Featured Image

Photo by Sharon McCutcheon on Unsplash

Photo by Sharon McCutcheon on Unsplash