Dhaka, Tuesday, 19 November 2019

10 pharma cos holding 68pc of market in Bangladesh  

2019-04-01
10 pharma cos holding 68pc of market in Bangladesh
 

Staff Correspondent:The top 10 local pharmaceutical companies continue holding more than 67 per cent share of the Bangladesh medicine market while 194 others hold only 32 per cent, according to the IQVIA data.

The data of IQVIA, an American multinational product-based company serving the combined industries of health information technologies and clinical research, showed that market share of the top 10 companies in 2018 decreased by 0.3 percentage points to 67.82 per cent from 68.12 per cent in 2017.

According to the data, Square Pharmaceuticals Ltd holds the highest market share (16.95 per cent) with annual sales worth Tk 3,476.25 crore of the total market size of Tk 20,511.88 crore.

‘It’s a matter of fact the companies who are trying to be aligned with global quality standards, are attaining manufacturing and marketing excellence day by day. Moreover, the financial strength of these companies also gives them the space to adopt modern technologies,’ Tapan Chowdhury, managing director of Square Pharmaceuticals, told.

He said around 70 per cent of the market shares were held by the top 10 manufacturers as the companies were much inclined to adopt modern technologies, manufacturing and marketing excellence.

Although the annual sales of Square Pharma in 2018 increased by Tk 106.24 crore from Tk 3,370.01 crore in 2017, the market share of the company declined by 0.52 percentage points from 17.47 per cent, the data showed.

Of the other companies, Incepta holds 11.08 per cent market share with annual sales worth Tk 2,272.99 crore, Beximco 8.26 per cent with Tk 1,694.26 crore, Renata 5.20 per cent with Tk 1,066.43 crore, Health Care 5.17 per cent with Tk 1,061.07 crore, Opsonin 5.08 per cent with Tk 1,042.53 crore, ACI 4.38 per cent with Tk 898.79 crore, Eskayef 4.37 per cent with Tk 895.71 crore, Aristopharma 4.11 per cent with Tk 842.48 crore and ACME 3.52 per cent with Tk 721.66 crore.

‘Square has been the market leader for last 32 years. The reasons are: doctor’s confidence, trust of the customers and people because of honesty, transparency, ethics and company’s commitment,’ Tapan said.

Of the top 10 companies, six including Square, Beximco, Opsonin, ACI, Aristopharma and ACME lost their market share in 2018.

The data also showed that the sales of eight companies increased in 2018 while only two companies including Opsonin and ACME witnessed negative sales growth.

Industry insiders said that there were 204 licensed pharmaceutical manufacturers in Bangladesh and the companies met around 98 per cent of the local demand.

Centre for Policy Dialogue distinguished fellow Mustafizur Rahman said that the market share of the top 10 companies decreased in 2018 but the fall was insignificant.

He said that holding around 67 per cent market share by the top 10 companies was a bit high in terms of market concentration but it was not a matter of major concern.

He suggested that the authorities should check whether small companies were facing any problems in improving their business.

The IQVIA data also showed that among the top 20 therapeutic medicines, antiulcerants class (acidity) accounted for the highest sales (Tk 3,013.48 crore) in 2018 followed by cephalosporin class (antibiotic) with sales worth Tk 1,687.61 crore.

Annual sales of human insulin accounted for Tk 702.19 crore, calcium Tk 700.95 crore, antirheumatic drugs (non-steroid painkiller) Tk 659.41 crore, antiepileptics (nervous system drug ) Tk 650.87 crore and non-narcotic analgesics (painkiller) Tk 643.47 crore.

Tapan said that the top 10 companies were covering maximum therapeutic classes, which also gave certain amount of revenue and growth for the companies.

‘Bangladesh’s pharma industry is ahead of other industries as the import of finished pharmaceuticals is very minimum; the local companies are satisfying more than 98 per cent requirements of the local market,’ he said.

Bangladeshi pharma industry exports medicines to 70 countries and the compound annual growth rate of the sector was 16.51 per cent in 2014-18, Tapan said.