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Malaysia Pharmaceuticals and Healthcare Report Q3 2007Published by: Business Monitor International Published: Dec. 7, 2007 - 74 Pages Table of Contents
AbstractMalaysia’s pharmaceutical market is the second fastest growing in Asia Pacific, according to BMI’s recentlypublished Malaysia Pharmaceutical & Healthcare Report Q3 2007. The country has a robust domestic industrythat caters for basic generic drugs, but is reliant on foreign imports for expensive patented medicines.Signifying maturation of the sector, leading players Pharmaniaga is increasingly looking abroad for growth,while rival firm Chemical Company of Malaysia is concentrating on the niche area of halal medicines. Wecurrently value the drugs market at just over US$1bn and BMI is forecasting CAGR of 11% through to 2011,when valuation will reach approximately US$1.7bn.Diseases resulting from unhealthy lifestyle are increasing in prevalence. According to the health minister,some MYR150-200mn (US$43-58mn) is spent on medicines for diabetes, high blood pressure and elevatedcholesterol levels each year. Heart disease is the number one killer in Malaysia. In 2005, over 3,000 peopledied from the condition, while nearly 40,000 were admitted to hospital The proportion of the population withdiabetes has increased from 6% to 10% over the past 20 years and this figure is expected to reach 13% by2020. Despite a mature regulatory agency, products that are tainted, adulterated and unregistered still make their wayonto the market. Enforcement work has become very challenging as the criminals that supply these productsuse advanced technologies to avoid detection and cunningly exploit Malaysia’s land and sea borders withThailand and Indonesia. Nevertheless, the total number of items seized has risen from 6,233 in 2005 to 20,235in 2006. The value of fake medicine confiscated was MYR18.4mn (US$5.3mn). As with many Asian nations, traditional medicines are frequently used in Malaysia, often in tandem withmodern drugs. This is evidenced by the Kepala Batas Hospital in Penang becoming the first healthcare facilityin Malaysia to offer both modern and complementary (herbal preparations, acupuncture and traditionalmassage) medicine. According to Health Minister Datuk Seri Dr Chua Soi Lek, the scheme is successful it willbe extended to other hospitals. Get Full Details About This Report >> |
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