Pharmaceuticals - Bangladesh

Bangladesh

The projected revenue in the Pharmaceuticals market in Bangladesh is expected to reach US$2,277.00m in 2024.
Among the various markets, the largest one is Oncology Drugs, which is projected to have a market volume of US$129.90m in 2024.
The revenue in the Pharmaceuticals market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of -4.16%, leading to a market volume of US$1,841.00m by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue of US$630.30bn in 2024.
"Bangladesh's pharmaceutical market is experiencing rapid growth, driven by increasing demand for affordable and accessible healthcare solutions."

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

Bangladesh has been experiencing a significant growth in the Pharmaceuticals market in recent years, with an increasing demand for both generic and branded drugs.

Customer preferences: The customers in Bangladesh tend to prefer locally manufactured drugs, as they are more affordable than imported ones. However, the demand for imported drugs has also been increasing due to the perceived higher quality of these drugs. Additionally, there is a growing demand for specialized drugs, such as those for chronic diseases like diabetes and hypertension.

Trends in the market: The Pharmaceuticals market in Bangladesh has been growing rapidly due to the increasing population, rising income levels, and government initiatives to improve healthcare. The market has also been boosted by the growth of the middle class, which has led to an increasing demand for healthcare products and services. Moreover, the rise of e-commerce has made it easier for customers to access pharmaceutical products, which has further increased the demand for these products.

Local special circumstances: One of the special circumstances in Bangladesh is the presence of a large number of unregistered drug manufacturers, which has led to concerns about the quality and safety of drugs. The government has been taking steps to regulate the industry and ensure that only licensed manufacturers are allowed to operate. Additionally, the lack of a proper distribution network has made it difficult for customers to access drugs in remote areas of the country.

Underlying macroeconomic factors: The growth of the Pharmaceuticals market in Bangladesh is also driven by underlying macroeconomic factors, such as the increasing GDP and rising healthcare expenditure. The government has been investing in healthcare infrastructure and increasing its healthcare budget, which has led to an increase in the availability of drugs and healthcare services. Furthermore, the growth of the Pharmaceuticals market has also created employment opportunities and contributed to the overall economic growth of the country.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.