The Pharmaceutical Industry
AbstractThe pharmaceutical industry is globally known as the fastest growing industry in the world. With revenues of USD 518 billion and 9% of global GDP in the year 2007, Pharmaceuticals have a reputation for having the highest profit margin in the world. Bangladesh possesses a sizeable pharmaceutical industry that has the potential to live up to global standards. The country can expand its economic growth by investing in their fast growing pharmaceutical industry which has an annual average growth rate of 16% and a market size of BDT 30 billion in 2007 according to International Management System (IMS). It employs around 75,000 skilled and unskilled employees and is considered to be the second largest contributor to country’s national revenue (Bangladesh Gazette). This sector is the second largest contributor to the Govt. exchequer, employing around 75,000 skilled & unskilled employees. With huge demand-supply gap, major players see basic chemicals as the greatest opportunity for expansion and better control over formulation industry forces.Key Words: Medicine, Drug, Brands, Expansion, Performance, Domination, Profit.IntroductionPharmaceutical is one of the highest priority sectors in Bangladesh. There are more than 230 small, medium, large and multinational companies operating in the country producing around 97% of the total demand (Bangladesh Bureau of Statistics (BBS), Annual Bulletin -2008) The sector is the second highest contributor to the national ex-chequer after tobacco and it is the largest white-collar intensive employment sector in Bangladesh. 95% of the total demand of Bangladesh is being met by local manufacturing (Ministry of health of BD, Half yearly assessment report published in 2007). The remaining 5% basically constitute import of much specialized products like vaccines, anti-cancer products and hormone drugs (Bangladesh Pharmacy Council (BPC), Annual Report -2009). The country can continue to produce patented products until 2016 as per trade related intellectual property rights (TRIPS).Objectives of the Study[pic 1]Broadly the objective of the study is to make familiar with the present status of pharmaceutical industry of Bangladesh. Specific objectives are:[pic 2][pic 3]To present historical background of pharmaceutical industry of Bangladesh. To present the overall situation of pharmaceutical industry of Bangladesh.[pic 4][pic 5]To identify the existing problems in pharmaceutical industry of Bangladesh. To show the trend of pharmaceutical industry.[pic 6]To provide some guidelines to policy makers.
Essay About Objectives Of The Study And Second Largest Contributor
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Latest Update: June 26, 2021
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