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Wednesday, 04 July 2018 11:44

Overview of Myanmar Pharmaceutical Industry

Overview of Myanmar Pharmaceutical Industry Oraginal

Myanmar has a significant growth in the pharmaceutical market started from the last decade,

worth of US$ 160 m in 2010 to US 344 m in 2016 and the total pharmaceutical expenditure has been increasing at 11-12% per annum according to “the Trading Economics”. Since Myanmar is free from the international sensation, the country is opening up and the investment of healthcare companies and the Market Expansion Services providers are expected to increase according to the ASEAN Economic Community (AEC). The estimated size of Myanmar’s pharmaceutical industry is about US$ 100-120 m in Cost, Insurance and Freight (CIF) value. The Government has implemented the policies and long-term strategic plan for the healthcare system into action during 2017-2021. The Ministry of Health aims to enable every citizen to attain full life expectancy and enjoy longevity of life and to ensure that everyone is free from diseases.


The pharmaceutical market in Myanmar is mainly depended on the foreign imported medicines and drugs as Myanmar’s domestic pharmaceutical industry is still small. Most of pharmaceutical products and drugs are mainly imported from other countries like India, Bangladesh, China, Indonesia, Pakistan, Thailand and Vietnam. The 85% of the drug market are imported products and India takes the lead with 40-45% of the market share. All imported medicines and supplies have to be registered and authorized by the Food & Drugs Administration (FDA). The FDA inspects the importers, pharmaceutical plants and the quality of drugs. Around 5000 types of medicines are currently imported.


According to the Myanmar Pharmaceutical & Medical Equipment Entrepreneurs’ Association (MPMEEA), there are 1163 local companies, 26 foreign companies, 3214 individuals, 16 manufacturers in March 2017. The 60% of the total pharmaceutical product sales are made in Yangon and Mandalay. The major pharmaceutical companies which are leading in the Myanmar’s drug market are DKSH Business Unit Healthcare, GE Healthcare, Sun pharmaceuticals, Dr.Reddy, Cipla and Ranbaxy respectively. Other local companies which mainly lead the market are Fame pharmaceutical, San Lwin Trading Company, AA medical product, GETZ Pharma limited and TAJ Pharma limited. Unlike other countries where the clinics, drug stores and pharmacies are around every corner, the number of such medical outlets is very few in Myanmar. The clinics and hospitals from private sectors have their own sources from the preferred medicine distributors.


Myanmar people’s awareness in healthcare is increasing and the growing middle class is favouring on western drugs for quality and efficiency than traditional medicines. Price remains an issue but manufacturers know the limited paying capacity of local customers, and therefore keep their prices at lowest possible levels. Additionally, drugs that reach the market through cross border trade come at cheaper prices.


New hospitals with foreign private investments are under construction. The new law under the new government allow 70% foreign ownership in clinics and hospitals. Therefore, Myanmar pharmaceutical and healthcare industry is expanding over the time and Myanmar people can now have various choices such as having access to buy latest drugs in local markets and to take treatment in home country rather than travelling overseas for their health.

writting by : Shin Ye Htut

 

Health Product Directory 

Read times Last modified on Thursday, 05 July 2018 16:42
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