Pharmaceutical analysis in bangladesh
Pharmaceutical industry in bangladesh 2017
So the political and legal environment plays essential role in shaping pharmaceutical industry. So investment in pharmaceutical industry will not go in vain. Pharmaceuticals industry is fully depend on organic chemicals and chemical industry is very competitive in Bangladesh. It means that the value of money is decreasing and people will have to spend more on medicine which is difficult for people. Janet B. Biotechnology firms can be a threat for pharmaceuticals industry but most of the pharmaceuticals producers are collaborating their business with biotechnology firms. This is a great sign of improvement. Pharmacists, marketers, finance companies and regulatory authorities have to acquire much from this article. Bangladesh set a target to explore 30 new destinations and grab larger market share. To grab the opportunity firm needs to be quality conscious and invest in hi tech machines. This increases the cost of production and also selling price of drugs. Peoples demand for drugs is increasing and quality improving. Ramesh S.
Hussain F. Innovative effectiveness is low in our country, due to lack of sophisticated equipment, lack of capital and lack of skilled manpower.
This creates the industry to have almost zero threat of substitute products. Some of the company dominates the pharmaceuticals market in Bangladesh.
Contribution of pharmaceutical industry in bangladesh economy
They have a huge variety of product portfolio and they are expending their product range. Imported medicines and medical devices are subject to customs duties depending on types and classes. To maintain their market share firms focusing on sales promotion in the market. Sociocultural The sociocultural factor is very important in the context of Bangladesh. It will help this country to be a develop country. They will try to maintain their status que by producing premium quality medicine. Pharmaceutical industry of Bangladesh the market is captured by some major pharmaceutical companies. While the multinationals cater to the remaining demand Labor Cost:- Labor cost in Bangladesh is very low although in current law there is no clear mention about the wages of pharmaceutical sector labor Social Growing Population:- A growing population signifies a growing need for medicines. Pharmaceutical industry can do a great deal of work in the healthcare. Most of the companies do not up to date their machineries. New technologies change the way companies communicate with their customer. Threat 1. It means that the value of money is decreasing and people will have to spend more on medicine which is difficult for people. Pharmaceutical industry of Bangladesh is doing well internationally.
Latest technologies are installed most of the companies in Bangladesh. Rising cost of wages, salaries increases the total cost of drugs production.
Pharmaceutical industry in bangladesh 2018
Zyma I. Hussain F. The law grants both process and product patent rights for pharmaceutical products. Future objectives of competitor The major pharmaceuticals companies have a great advantage in the industry. Country like china can produce drugs with a very low cost. For example if the government set the maximum retail for medicine then the company will earn less. We offer services to assist with formulation development, to predict and assess drug-container interactions, and to determine delivery feasibility and system performance.
Bangladesh domestic market of Pharmaceutical products is increasing over the past few years and currently the market stood at BDT billion. It will help them to invest more in quality product.
Opportunities and Threats of Pharmaceutical Industry Opportunities:- 1. For example Bangladesh will enjoy patent free production till
Pharmaceutical analysis in bangladesh
We also perform analytical chemistry testing such as stability studies and extractables. Weakness 1. Reasons behind are economic development, population blast, investment scopes, FDIs along with many other unexplained matters. This helps the company to become self efficient in making international standard drugs. Pharmaceutical industry can reduce the unemployment rate specially the women in Bangladesh. Department of Commerce utilizes its global presence and international marketing expertise to help U. Recommendation and Conclusion Bangladeshi drug industry to manufacture drugs is well established. Sometimes per unit cost of the medicines are higher than the buying price of imported medicines. So the market is controlled by few companies only and that is why the entry barrier is higher. If the government put restriction on foreign medicine than local pharmaceuticals can grow. Pharmaceutical and medical device companies in turn have to go through DGDA for licensing. Any direct foreign investor in Bangladesh needs to submit a project proposal to the Bangladesh Investment Authority BIDA for review before receiving approval.
based on 65 review